In November 2018, six start-ups graduated from the Business Acceleration Academy program at BioInnovation Institute. Since then, they have been executing on the plan they developed with help from industry experts, mentors and entrepreneurs during the program. We asked three of the start-ups where they are today.
Interested in joining the next program? Apply before March 19.
Peter Holst, CSO of InProTher – a start-up that treats cancer by targeting tumor virus within the human genome.
What has been your company focus since the BAA-program?
InProTher has been accepted in the BII Creation House program with DKK 10M in funding, so we have focused on expanding, generating data and engaging later stage investors. In the past four months, we have grown from one employee to seven full-time employees.
What has been the most important learning for you?
We started out with a reasonably sound scientific plan, but we left the BAA-program with a focused development plan that was validated and investable.
What are your plans and expectations for 2019?
We expect to complete the process development of our lead candidate and to develop and validate assays for future clinical trials. With this, we can complete a clinical development plan and start and close a financing round.
Maja Rennig, CTO of Mycropt – a holistic technology platform for optimizing protein production in microbes.
What has been your company focus since the BAA-program?
We have focused on refining our business model to attract funding and customers. As our company is ready to go to market, attracting customers is as important as attracting funding.
What has been the most important learning for you?
We have learned to see our company from a commercial perspective and not only a scientific perspective. Learning more about business has changed our approach and priorities and helped us to better understand investors and customers.
What are your plans and expectations for 2019?
We plan to raise funding for Mycropt to move forward and we are already negotiating with a company and hope to sign a few customer deals in 2019.
Søren Kjærulff, CEO of Fermbiotics – microbiome focused company developing naturally fermented seaweed and plant products for supporting gut health.
What has been your company focus since the BAA-program?
Our focus is to launch our fermented products for pet food supplement and food supplement.
What has been the most important learning for you?
We knew that research and development of products can be very extensive, and we have realized that so is commercialization.
What are your plans and expectations for 2019?
We want to generate product sales once we launch by the middle of the year. Currently, we are expecting the results from our first clinical trial in IBD/IBS patients from Silkeborg Hospital.
Are you part of a life science start-up? In the Business Acceleration Academy, experts help you build an attractive business case by taking you and your team through topics such as business model, IP and regulatory issues, go-to-market strategy and product. The program is free and comes with a grant of up to DKK 250,000. BioInnovation Institute takes no equity in your start-up. Apply before March 19 to join the September program.