Copenhagen, Denmark, September 6, 2022 /PRNewswire/ — The BioInnovation Institute (BII), an international non-profit commercial foundation that creates and accelerates world-class life science research, today announced the latest cohort of participants in its Venture Lab Acceleration Program for early stage companies. The cohort consists of nine ventures plus two corporate-sponsored innovation projects from Novo Nordisk – all strategically aligned with BII’s focus on developing breakthrough science initiatives for the benefit of people and planet.
BII’s 12-month Venture Lab program is designed to transform research-based ideas with high commercial growth potential into viable startups 0.5 million euros plus access to labs and offices in the BII entrepreneurial ecosystem in the center of Copenhagen. As part of the Venture Lab program, early-stage companies are also given the exclusive opportunity to apply for an add-on opportunity of up to 1.3 million euros through BII’s new Venture House program.
comment on today’s launch, Bobby SoniChief Business Officer at the BioInnovation Institute, said: “We are pleased to announce the next cohort of startups accepted into our Venture Lab program, and we look forward to supporting them in the many aspects of development required to deliver world-class science.” deliver that has a positive impact on global health and the environment Additionally, we are excited to present two strong innovation projects from Novo Nordisk and look forward to advancing these projects by offering our Venture Lab program as a platform for innovation.”
Each start-up is supported in taking the necessary steps to achieve an initial proof of concept, create a business plan and build a team. Supported by a dedicated academic advisor, a leadership coach and a BII business development expert, the new companies are guided in the development of a detailed milestone plan and supported in overcoming the challenges of growing a company.
The new companies that BII has added to Venture Lab’s Acceleration Program are:
- agrobiomics uses cellular bacteria that are metabolized to help plants cope with abiotic stresses such as drought, offering farmers new sustainable solutions.
- TriptoBio develops a production platform for high-quality botanicals. The company’s first product aims to eliminate rat poison.
- Upstream Food is dedicated to redefining the future of seafood by bringing the flavor and health benefits of plant-based seafood.
- MATR food has developed a new method to create delicious new plant foods from the side streams of the current food industry.
- Myco4Food converts organic waste products into food ingredients enriched with mycoproteins. The company produces sustainable protein alternatives without using agricultural land.
- HHC Medical is developing an electroporation-based technology platform to bring therapies to patients across a broad spectrum of diseases.
- HEKA VR uses virtual reality to deliver a new type of immersive therapy to the tens of millions of treatment-resistant schizophrenia patients who currently have no viable treatment option.
- fimmcyte is developing the first disease-modifying treatment for endometriosis to help millions of women affected by this painful condition.
- Ebumab is trying to use its antibody AMT technology in combination with the body’s immune system to fight cancer.
- IVjector is a company-sponsored project by Novo Nordisk that aims to transform the patient experience with IV-based drug delivery.
- D’ChangO is a company-sponsored project by Novo Nordisk dedicated to providing a solution for people with binge eating disorder through a digital, personalized and easily accessible companion.
Since its foundation in 2018, BII has supported 62 start-ups and projects 50 million euros along with the venture capital, pharma and business expertise it offers to help them get to the next level. Overall, BII startups have increased 207 million euros in external financing from local and international investors. Recent company successes include Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio and Cirqle Biomedical.
Read more about the Venture Lab program
About the BioInnovation Institute Foundation
The BioInnovation Institute Foundation (BII) is an international commercial non-profit foundation supported by the Novo Nordisk Foundation. BII operates an incubator to accelerate world-class life science innovations that drive the development of new solutions by young life science start-ups for the benefit of people and society.
BII, located in Copenhagen, Denmarkoffers start-ups and early-stage projects in the healthcare technology, therapeutics and bio-industry fields state-of-the-art laboratories, vibrant office facilities, business development, start-up incubators, access to high-level mentoring and international networks. plus unique funding opportunities of up to 1.3 million euros per startup and 2.4 million euros per project.
Since the inauguration of the BII in Nov 2018awarded BII 50 million euros to 62 high-growth start-up companies. Read more at www.bioinnovationinstitute.com
SOURCE BII
