Medtech companies part of new entries to Venture Lab program
BioInnovation Institute (BII), an international non-profit foundation incubating and accelerating life science research, has announced that 12 new companies have entered its Venture Lab acceleration program for early-stage companies.
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 €500,000 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 €1.3 million 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, healthtech 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 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 a technology platform that can produce fermentation-based oils at scale and prevent deforestation. The technology can be used to produce a 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 radio immunotherapies to improve the lives of cancer patients.
- Polyceutix is changing 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.
Healthtech
- 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 €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 €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.