BioInnovation Institute (BII), an international non-profit foundation incubating and accelerating world-class life science research, today announces that ten new companies have entered its Venture Lab acceleration program for early-stage start-ups. The cohort strategically aligns with BII’s focus on developing ground-breaking scientific initiatives to benefit human and planetary health.
The 12-month Venture Lab program is designed to support start-up companies with business acceleration, scientific, and team development and provides a convertible loan of EUR 500,000 (approximately 4M DKK) plus access to labs and offices at the BII in Copenhagen. In becoming a part of the Venture Lab program, the early-stage start-ups also get an exclusive opportunity to apply for EUR 1.4M in follow-up funding through BII’s Venture House program.
Bobby Soni, Chief Business Officer at BioInnovation Institute, said: “We are pleased to welcome this new cohort of early-stage companies working across the bioindustrials, therapeutics, women’s health, and health tech industries to the Venture Lab program. BII’s mission is to create products for people’s and society’s welfare. We believe that BII’s support of the innovative science in this Venture Lab cohort will deliver on that promise.”
Each start-up will be supported in undertaking the necessary steps to reach initial proof-of-concept, make a business plan, and set up a team. A dedicated scientific advisor, a leadership coach, and a BII business development expert will guide the new ventures in developing a detailed milestone plan. They will be assisted in overcoming the challenges of growing a business, allowing them to progress rapidly toward the market.
The new companies BII has accepted into the Venture Lab acceleration program are:
Agoprene develops furniture foam from biomass to help the furniture industry reduce the need for petrochemicals
AIDA Oncology selects the best cancer drug for each patient, using the RNA expression pattern of their tumor and machine learning
Alba Health is on a mission to reduce chronic disease risks from childhood, leveraging data science and the latest microbiome science.
Droplet IV automatically flushes every IV set at the precise time of medicine termination, ensuring patients’ optimal treatment quality.
FÆRM provides an enzymatic solution for plant-based cheese, translating dairy practices to legumes in cooperation with dairy plants.
METSYSTEM has developed a unique technology to predict cancer metastasis and determine the optimal chemotherapy to treat it preventively.
Norfalk rethinks soap, cosmetics, and detergents by producing sustainable active and stabilizing ingredients called surfactants.
Dawn Bio is developing a drug discovery platform based on human embryo models for drug development for women’s reproductive health.
Fuse Vectors is disrupting manufacturing to enable universal access to gene therapy.
Amplify Therapeutics develops transformative, disease-modifying therapies for Gaucher disease and genetic subgroups of Parkinson’s disease.
Since its inception in 2018, BII has supported 80 start-ups and projects with EUR 65 million alongside the venture capital, industry, and business expertise it provides to help them accelerate to the next level. BII’s start-ups have raised over EUR 333 million in external funding from local and international investors. Recent company successes include Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Cirqle Biomedical.
Read more about the Venture Lab program