BioInnovation Institute (BII), an international commercial foundation with a non-profit objective of incubating and accelerating world-class life science research, today announces that four companies have joined its Creation House program. Creation House consists of a founder-friendly convertible loan of DKK 10M and 18 months incubation at BII with access to labs and office space, business development support, and BII partners. The program allows participants to meet and interact with BII’s network of investors, industry partners, alumni and fellow entrepreneurs across its other programs and is specifically designed to guide companies to a competitive international level and prepare teams for discussions with investors ahead of series A financing rounds.
In collaboration with the BII team and their network of experts, companies will make a gap analysis to find weak spots and roll out a development plan with every step needed to reach the milestones on drug development, good manufacturing practice and regulatory strategy.
Bobby Soni, Chief Business Officer, at BioInnovation Institute, says:
“BII’s Creation House program is designed to support start-ups in their journey and essentially increase the likelihood of success. By developing the three key pillars: science, team and business, we help each venture overcome hurdles and position them to attract top-quality international investment. We are delighted to have selected this cohort of initiatives, all of which offer the potential to positively impact the lives of patients suffering from conditions of high unmet medical need.”
Spot on unmet needs
Creation House is for companies with a solid, initial business plan. In the therapeutic area, a cellular proof of concept with chemical or biological tool compounds is required. In bioindustrials, a proof of concept or Minimal Viable Product (MVP) is required and in health tech, a scale-up ready MVP is required. The new companies BII has accepted into the Creation House program are the following:
Orbit Health: Harnessing sensor and AI technologies, Orbit provides doctors with continuous and objective insights to enable effective personalized treatment and continuous management of chronic patients at home.
Notify Therapeutics: Focuses on the initial ovarian follicle development to help infertile women not benefitting from today’s standard hormone treatment.
Embark Biotech: A spin-out from the University of Copenhagen with the aim of pioneering novel drugs for metabolic diseases.
Pephexia Therapeutics: A biotechnology company working with the discovery and development of innovative peptide-based pharmacotherapies for the effective and convenient treatment of cachexia and related diseases.
Support of more than 70 early-stage companies
Since its inception in 2018, BII has supported 79 start-ups and projects with EUR 44 million in funding. BII’s start-ups have in total raised more than EUR 112 million from local and international investors. Its diverse team brings venture capital, pharma and business expertise together to help early-stage companies accelerate to the next level. Recent portfolio / incubated company successes include Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio and Chromologics.