BioInnovation Institute welcomes twelve new companies to its Venture Lab program

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29 Feb, 2024, 08:05 GMT

COPENHAGEN, Denmark, Feb. 29, 2024 /PRNewswire/ -- BioInnovation Institute (BII), an international non-profit foundation incubating and accelerating world-class life science research, today announces that twelve new companies have entered its Venture Lab acceleration program for early-stage companies. The cohort is strategically aligned with BII's focus on supporting innovative early-stage start-ups that can improve 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 founder-friendly 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 companies also get an exclusive opportunity to apply for EUR 1.3M in follow-up funding through BII's Venture House program.

Bobby Soni, Chief Business Officer at BioInnovation Institute, said: "Working across the planetary, therapeutics, women's health, health tech and quantum industries, these twelve start-ups have demonstrated the drive and tenacity that align with BII's mission in creating innovative solutions to address current challenges in these sectors. We once again look forward to supporting these start-ups in bringing their innovations into fruition by providing our knowledge, network, funding, and infrastructure to build successful companies."

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, the new ventures will be guided in developing a detailed milestone plan and will be assisted in overcoming the challenges of growing a business allowing them to progress rapidly towards the market.

The new companies BII has accepted into the Venture Lab acceleration program are:

Planetary Health

CAMBIOTICS is developing precision probiotics for PFAS detoxification.
SNL Biosolutions has developed an innovative technology platform that can produce fermentation-based oils at scale and prevent deforestation. The technology can be used to produce a wide range of products spanning from food ingredients to sustainable aviation fuel.
SymbioMATCH produces effective biofertilizers tailored to each soil condition and legume crop.

Therapeutics

PreTT is a pioneer in advancing pre-targeted radioimmunotherapies to improve the lives of millions of cancer patients.
Polyceutix is transforming cancer treatment by unleashing the full power of the immune system exactly where it is needed.

Women's Health

Pharmista Technologies is developing a reusable pregnancy test which will be the start of a new generation of reusable diagnostics.
oasicare is on a mission to improve women's health during childbirth and postpartum on a global scale. The Company's first solution is a medical device preventing the risk of birth tears.

Health Tech

Zeta Diagnostics is developing a portable audio device that allows physicians to detect middle ear problems before they become permanent complications.
Glaze Life Sciences is developing a non-invasive device to measure blood glucose to improve the everyday life of people living with diabetes.

Quantum

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 that will enable safe and trusted data sharing in the post-quantum era.

Since its inception in 2018, BII has supported 100 start-ups and projects with EUR 89 million alongside the venture capital, industry and business expertise it provides to help them accelerate to the next level. In total, BII's start-ups have raised over EUR 428 million in external funding from both local and international investors. Recent company successes include Embark Laboratories, Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Cirqle Biomedical.