BioInnovation Institute (BII), an international commercial non-profit foundation incubating and accelerating world-class life science research, today announces the latest cohort of participants in its Venture Lab acceleration program for early-stage companies. The eight ventures are strategically aligned with BII’s focus, developing ground-breaking scientific initiatives across three specialist areas – therapeutics, bioindustrials and health tech.
Designed to help build research-based ideas with high-growth commercial potential into viable start-ups, BII’s 12-month Venture Lab program supports business acceleration, scientific and team development, and provides a risk-free convertible loan of EUR 0.5 million-plus access to labs and offices at BII’s entrepreneurial ecosystem in the center of Copenhagen. Since its inception in 2018, BII has supported 71 start-ups and projects with EUR 44 million in funding.
Commenting on today’s launch, Bobby Soni, Chief Business Officer at BioInnovation Institute, said:
“Following the launch of our Venture Lab program last year and an initial intake of exciting new companies, BII has continued to receive a stream of promising applications. We are delighted to announce the next cohort of start-up initiatives accepted onto the program and we look forward to supporting them with the many aspects of development needed to deliver first-in-class science that will positively impact global health and the environment.”
The new ventures BII has accepted into the Venture Lab program are Ousia Pharma, Tetrakit Technologies, Nordic Virtual Pastures, Algiecel, Aiomic, Mello, Warburg Oncology and Probmet.
Each start-up will be supported in undertaking the necessary steps to reach initial proof-of-concept, to make a business plan and to set up a team. Assisted by a dedicated scientific advisor, a leadership coach and a BII business development expert, these new ventures will be guided in developing a detailed milestone plan and will be provided assistance in overcoming the challenges of growing a business.
BII’s start-ups have in total raised more than EUR 147 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 stage of growth. Recent company successes include Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Chromologics.