Novo Nordisk Foundation grants DKK 5.5 billion to BII to elevate innovation in Denmark and Europe
The Novo Nordisk Foundation has allocated up to DKK 5.5 billion
(EUR 736 million) to BioInnovation Institute (BII), a leading institute
for life science and deep tech innovation in Copenhagen. The
funding will enable BII to expand its activities into new strategic
areas and geographies, and support even more entrepreneurs and
start-up-companies, thereby strengthening innovation in Denmark
and Europe. The new funding frame runs from 2026 to 2035.
Europe faces a critical challenge: The continent produces world-class
science, but lacks behind other leading regions in translating discoveries
into groundbreaking innovations that create jobs, drive economic growth
and address urgent societal challenges.
Now, the Novo Nordisk Foundation empowers BII to take a leading role in
Europe’s response to pressing issues within human health, planetary health
and societal resilience. With BII’s proven platform that has already helped
create and develop more than 130 companies and attracted more than
DKK 7 billion in external funding, the aim is to ensure that Denmark’s
innovation engine can scale in a way that supports broader European
competitiveness.
Over the coming years, BII expects to scale its activities by significantly
increasing the number of start-ups supported each year. While supporting
life science and biotech start-ups will remain key, the new long-term
support from the Novo Nordisk Foundation enables BII to venture into
new scientific and technological fields like AI and quantum.
“We are giving BII the opportunity to expand its reach and further
strengthen its position as a European powerhouse for innovation. This will
prove instrumental in securing that even more science is translated into
new companies, jobs and solutions benefitting people and our planet – and
ultimately driving the growth and entrepreneurial culture that will benefit
European competitiveness,” says Mads Krogsgaard Thomsen, CEO of the
Novo Nordisk Foundation.
A successful platform for innovation
Continued investment in innovation is key, and since BII’s establishment in
2018, venture capital investments into Danish biotech have increased more
than fourfold.
With the renewed support of BII in Denmark, the strong national platform
can be leveraged to back BII’s ambition of expanding in Europe, working in
partnerships with leading universities and research institutions. Physically
anchored in Innovation District Copenhagen, BII also serves as a hub for
connecting Denmark’s life science ecosystem with leading innovation
districts across Europe.
None of this would be possible without the long-term support from the
Novo Nordisk Foundation, which provides exceptional conditions for
bringing more scientific breakthroughs to the market to address global
challenges. We have proven that our innovation platform is successful, but
we cannot push the boundaries of innovation alone. Strengthening
partnerships will remain a top priority as we continue to develop
Denmark’s innovation ecosystem and help ensure Europe’s
competitiveness,” says Jens Nielsen, CEO of BII.
BII’s platform has already attracted major commercial and philanthropic
partners. Notable collaborations include joint initiatives with Ferring and
the Gates Foundation to advance women’s health innovation, and more
recent partnerships with the Villum Foundation and the Lundbeck
Foundation to support early-stage start-ups in Power-to-X technologies
and brain disease treatment.
The new funding will further strengthen BII’s position as an attractive
destination for investors, enhance its ability to collaborate with academic
institutions across Denmark and Europe and support the formation of new
partnerships with industry and foundations - all of which are critical
elements in sustaining a vibrant innovation ecosystem.
