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Frequently Asked Questions
What is the purpose of BII?

The purpose of BII is to operate an incubator to accelerate world-class life science innovation that drives the development of new solutions by early life science start-ups for the benefit of people and society.

Is BII an investor?

BII is not an investor. BII provides its start-ups and projects with financial support either through convertible loans, as is the case for start-ups in the Venture Lab program, or through grants, as is the case for projects in the Bio Studio project.

What is a convertible loan?

A convertible loan note is a type of short-term debt that may be converted into equity shares at a later date based on predefined terms. The loan includes no personal guarantees of repayment from the founders. In case of liquidation (company closure), the unrepaid balance of the loan may be converted into a grant from BII.

The convertible loan is paid in one tranche upon project initiation after agreement of milestones to be reached. These can be a mix of technical, commercial, and team development milestones. The convertible loan note must be signed by the company, the founders of the company, and the existing shareholders in the company.

Who funds BII?

BII is a non-profit enterprise foundation established in 2021 with financial support from the Novo Nordisk Foundation of up to EUR 470 million over 10 years.

Is BII part of Novo Nordisk or the Novo Nordisk Foundation?

No, BII is an independent non-profit enterprise foundation. BII is currently financed by a grant from the Novo Nordisk Foundation of up to EUR 470M over 10 years.