BioInnovation Institute (BII) has welcomed twelve new companies into its Venture Lab acceleration program. The program supports early-stage start-ups with business acceleration, scientific and team development and provides a convertible loan of EUR 500,000. The companies also have the opportunity to apply for EUR 1.3M in follow-up funding through BII’s Venture House program. The new companies range from sectors such as planetary health, therapeutics, women’s health, health tech, and quantum. Bobby Soni, Chief Business Officer at BII, expressed excitement at supporting these start-ups in creating innovative solutions to current challenges.
BioInnovation Institute and Quantum Companies
BioInnovation Institute’s Venture Lab Program Welcomes New Start-Ups
BioInnovation Institute (BII), a non-profit foundation with a global reach, has announced the addition of twelve new companies to its Venture Lab acceleration program. This program is specifically designed to foster growth in early-stage start-ups that have the potential to impact human and planetary health positively.
The Venture Lab program offers a comprehensive start-up support system, including business acceleration, scientific and team development, and a convertible loan of EUR 500,000 (approximately 4M DKK). Additionally, the program provides access to labs and offices at the BII in Copenhagen. The companies also have the opportunity to apply for EUR 1.3M in follow-up funding through BII’s Venture House program.
Quantum Start-Ups
- DiaSense is developing a quantum diamond-magnetic microscope to be used by neuroscientists to diagnose diseases and find cures.
- Sqale is revolutionizing biomanufacturing by using quantum technologies.
- Alea Quantum Technologies has developed a quantum random number generator to enable safe and trusted data sharing in the post-quantum era.
The Twelve New Start-Ups and Their Innovations
The twelve start-ups span across various sectors including planetary health, therapeutics, women’s health, health tech, and quantum industries. Each start-up is expected to take the necessary steps to reach initial proof-of-concept, create a business plan, and set up a team. They will be guided by a dedicated scientific advisor, a leadership coach, and a BII business development expert.
In the planetary health sector, Cambiotics is working on precision probiotics for PFAS detoxification, SNL Biosolutions is developing a technology platform for large-scale production of fermentation-based oils, and SymbioMATCH is producing tailored biofertilizers.
In the therapeutics sector, PreTT is advancing pre-targeted radioimmunotherapies for cancer patients, and Polyceutix is working on harnessing the immune system for cancer treatment.
In women’s health, Pharmista Technologies is developing a reusable pregnancy test, and oasicare is working on a medical device to prevent birth tears.
In health tech, Zeta Diagnostics is developing a portable audio device for detecting middle ear problems, and Glaze Life Sciences is working on a non-invasive device for measuring blood glucose.
In the quantum sector, DiaSense is developing a quantum diamond-magnetic microscope, Sqale is using quantum technologies for biomanufacturing, and Alea Quantum Technologies has developed a quantum random number generator.
BII’s Track Record and Future Plans
Since its establishment in 2018, BII has supported 100 start-ups and projects with EUR 89 million, along with providing venture capital, industry, and business expertise. BII’s start-ups have collectively raised over EUR 428 million in external funding from both local and international investors.
The Venture Lab program is a comprehensive package that combines business acceleration, scientific development, and team development. It includes a EUR 500,000 risk-free convertible loan. During the program, start-ups conduct key experiments to reach initial proof of concept and receive valuable assistance in creating a business plan and setting up a team.
The Impact of BII’s Venture Lab Program
The Venture Lab program is a significant initiative by BII to foster innovation and growth in the life science sector. By providing financial support, infrastructure, and expert guidance, BII is enabling these start-ups to rapidly progress towards the market. The diverse range of sectors these start-ups represent indicates BII’s commitment to supporting innovation across a broad spectrum of life sciences.
The success of the Venture Lab program is evident in the external funding raised by its start-ups and the innovative solutions they are developing. As these start-ups continue to grow and develop their solutions, they have the potential to make significant contributions to human and planetary health.
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