Scienza e Tecnologia
BioInnovation Institute takes in new cohort of promising early-stage innovations
BII has made loans to BOOST Pharma from Sweden , Kesmalea Therapeutics from the UK, Enduro Genetics from Denmark and a research project from the Danish hospital, Rigshospitalet, as well as grants to three individual research-based projects at The University of Copenhagen . Each have been funded with 470,000 euros . All seven were selected via BII's 'open call' scheme in which the selection of the seven international projects and start-ups included input from BII's senior independent Advisory Group of eight international VC companies. The final decision on the selection of the new cohort of early-stage innovation was made by BII's board of directors.
While the university projects will continue their work at their current institutions during the coming 18 months, the four start-ups will have the opportunity to be established at BII and use BII lab- and office facilities. Here, they will be part of BII's growing incubator alongside the companies in the Creation House program as well as start-ups in the acceleration program BII Venture Lab which is launching in the beginning of 2021.
Today's announcement follows BII's news in September that it has awarded EUR 14M ( 104M DKK ) to eight early-stage life science start-ups and research projects within its Creation House program.
BII recently announced a partnership with eight top-tier investment firms to advise on the selection of the most promising start-ups in therapeutics, bioindustrials and health tech. The senior independent Advisory Group includes well renowned, top-tier investors including SR One, Sofinnova Partners, New Enterprise Associates, Novo Holdings, Wellington Partners, The March Fund, Rock Health and BioVentures investors, all with a successful track record of launching and supporting early-stage companies.
Commenting on today's announcement, Bobby Soni , Chief Business Officer at BioInnovation Institute, said:
Senior business developer at BII, Giles Dudley added: "
Details of the new ventures BII has accepted into the program are as follows:
Since inception in 2018, BII has supported over 85 start-ups and projects to date, with EUR 48 million in funding. Its diverse team brings venture capital, pharma and business expertise together to help start-ups accelerate to the next level. Recent portfolio / incubated company successes include immune-oncology company STipe Therapeutics, that raised EUR 20 million in a Series A financing; Chromologics, that received EUR 1.9 million in seed financing; and synthetic biology company Octarine, that completed a successful raise in January of this year.
Read more at www.bioinnovationinstitute.com
BioInnovation Institute is an incubator supported by the Novo Nordisk Foundation to accelerate world-class life science innovation that drives development of new solutions by early life science start-ups for the benefit of people and society. BII, located in Copenhagen, Denmark , offers start-ups and early-stage projects within health tech, therapeutics and bio-industrials 2300 square-meters of state-of-the art labs, vibrant office facilities, business development, start-up business incubation, access to high-level mentoring and international networks plus unique funding opportunities. Since the inauguration of BII in November 2018 , BII has awarded 48 million euros to innovative entrepreneurs. Read more at www.bioinnovationinstitute.com / www.bii.dk