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Insider Brief
- BioInnovation Institute selected 17 research-based startups for support as it expands its commercialization program in Denmark and across Europe.
- Each company will receive a €560,000 convertible loan and access to laboratory facilities, business expertise and an international investor network.
- The startups span biotechnology, healthcare, climate technology, artificial intelligence, photonics and quantum-related hardware.
PRESS RELEASE — Following the announcement of a new EUR 736M from the Novo Nordisk Foundation to the BioInnovation Institute (BII), the Danish innovation house made it clear that the funding would be used to support even more research-based startups in commercialising their ideas while also expanding into other European countries.
The scale-up is now clearly taking shape, as BII has selected no fewer than 17 companies for support. Each company will receive a EUR 560,000 convertible loan and access to an innovation platform that offers, among other things, access to a large investor network, laboratory facilities and expertise from BII’s team to support business development and capital raising.
For the 17 companies, joining BII provides a unique opportunity to accelerate the development of promising research results into commercial solutions. At the same time, they become part of an international environment of researchers, entrepreneurs, investors and experts, all of whom contribute to creating the foundation that enables the companies to navigate the challenges involved in building a research-based company.
From research to companies with global potential
With the new grant from the Novo Nordisk Foundation, BII has set an ambitious course for the coming years. The goal is to increase the number of startups supported each year while strengthening BII’s role as a catalyst for research-based innovation in both Denmark and the rest of Europe. BII has previously announced its ambition to increase the number of startups supported annually from around 20 to 30, and potentially even more over time through additional support via partnerships.
The 17 new companies are therefore also a concrete example of the scaling enabled by the new funding framework.
“We are facing a historic opportunity to bring even more of the strong research being conducted at Danish and European universities and hospitals out into the world. The 17 companies represent exactly the potential we want to help unlock – research with the potential to become new technologies, products and companies that can make a real difference,” says Trine Bartholdy, Chief Business Officer at BII.
At the same time, she points out that capital alone is not enough to help research-based companies through the early and often complex stages of development.
“When you build a company based on advanced research, the path from a promising idea to a scalable business is rarely straightforward. It requires capital, but also the right competencies, partners and access to infrastructure. Our role is to bring these different elements together around the founders, so they can focus their time and energy on developing their technologies and building companies with international potential,” says Trine Bartholdy.
Supporting a broader range of research areas than before
The new companies are working with a range of technologies and addressing a number of societal challenges. Their work spans new solutions within healthcare, biotechnology, climate and other research-based technology areas.
BII’s Venture Programme is aimed at early-stage startups and combines financing with business development, scientific development and team development. The companies joining the programme also gain access to BII’s facilities in Copenhagen, as well as a network of entrepreneurs, experts, partners and investors.
For Trine Bartholdy, it is precisely the combination of capital and expertise that can be decisive at the early stage.
“It is rarely enough to have a good idea or strong research alone. If a technology is to reach patients, customers or society, it also needs to be developed into a company that can attract the next round of capital, build the right team and navigate a complex market. That is the journey we want to help entrepreneurs take,” she says.
With the 17 new companies, BII is also continuing its efforts to build bridges between research environments and the international investment market. Since its establishment, BII has supported more than 140 companies, which have collectively attracted significant amounts of external capital.
A platform for the next generation of European companies
BII sees the coming years as an opportunity to strengthen Denmark’s position as a centre for research-based innovation while expanding its reach across Europe. The long-term ambition is to create an even stronger European ecosystem in which promising research results can move more quickly from the laboratory to the market.
“Europe has some of the world’s strongest research environments, but we need to become better at translating that research into companies, products and solutions that can compete globally. With the long-term backing of the Novo Nordisk Foundation, we can take on that task at greater scale. The 17 companies we are now welcoming are an important next step,” says Trine Bartholdy.
The new companies supported by BII are:
Fibernex
Develops advanced 3D porous nanofibre electrodes for alkaline electrolysis. The technology is intended to increase the efficiency of green hydrogen production while reducing the use of critical materials such as nickel. Fibernex is a spinout from DTU and is supported through BII’s collaboration with the Villum Foundation.
Sylvia Health
Sylvia Health is a medtech company developing new solutions for women’s pelvic floor and reproductive health. The company focuses particularly on the treatment of rectocele and other forms of pelvic organ prolapse, seeking to offer a simple, user-friendly and less invasive alternative to traditional surgery. Sylvia Health originated from the Novo Nordisk Foundation BioMedical Design Fellowship Programme, which is anchored at the University of Copenhagen.
KhaosGuard
KhaosGuard is a deep-tech company developing laser systems for real-time measurement of greenhouse gas emissions across industrial facilities. The technology can detect and quantify methane, nitrous oxide and CO₂ using mid-infrared laser technology. KhaosGuard is a spinout from DTU.
Corcellys Therapeutics
Corcellys Therapeutics is a biotech company focused on regenerative cell therapies for the treatment of diseases affecting the surface of the eye. The company originated from Nordic Cell Therapy Group and Novo Nordisk’s discontinued cell therapy division. The company is working to advance cell-based treatments in ophthalmology towards clinical application.
Launch Bioindustries
Launch Bioindustries is a biosolutions company developing sustainable biomaterials through advanced fermentation. The goal is to convert organic waste into high-performance bioplastics and thereby create alternatives to traditional fossil-based materials. The company originally emerged from the University of Toronto’s SpinUp Lab.
Alvara Therapeutics
Alvara Therapeutics is a biotech company developing small-molecule medicines for the treatment of chronic kidney disease. The company’s focus is on developing new therapeutic options in an area with a significant unmet medical need. Alvara Therapeutics is a spinout from the University of Copenhagen.
Epimass
Epimass is developing analytical and therapeutic systems based on real-time mass spectrometry. The technology is used to analyse surgical smoke and airborne particles generated during, among other things, laser-based surgical procedures, with the aim of providing healthcare professionals with rapid information about the material released during surgery. Doctors and hospitals could, among other things, use the technology to diagnose cancer more quickly and efficiently. Epimass is a spinout from the University of Copenhagen and has also received support from the Lundbeck Foundation and the Danish Cancer Society.
IQopta
IQopta develops AI-based solutions to create more efficient workflows in medical imaging. The technology is particularly aimed at drug development and clinical trials, where AI can support the analysis and management of medical imaging data. IQopta is a spinout from the University of Copenhagen and DTU.
Affinity AI
Affinity AI develops AI-designed protein binders for use in drug development, diagnostics and biomedical research. The company’s technology designs specific and stable proteins targeting particular binding sites on proteins, including complex targets that can be difficult to address using traditional methods. Affinity AI is a spinout from DTU.
React Foods
React Foods develops sustainable, nutritious and food-grade yeast proteins by converting CO₂ and renewable energy into protein. The company’s technology aims to create an economically attractive alternative to traditional protein sources while reducing the environmental impact of food production. React Foods has links to Aarhus University, the University of Tübingen and Stanford University.
Human Thinking
Human Thinking develops educational AI agents and learning systems that support and engage students’ own critical thinking in interaction with artificial intelligence. Human Thinking is a spinout from DTU and is already collaborating with leading educational researchers from the University of Copenhagen.
PureSurf
PureSurf develops high-performance bio-based surfactants for use in the chemical industry. The company’s technology combines renewable raw materials with European manufacturing to create more sustainable alternatives to conventional fossil-based surfactants. PureSurf is a spinout from the University of Graz and is supported through BII’s collaboration with XISTA in Austria.
Reformable
Reformable develops catalysts and catalytic process technology for converting methane and CO₂ into syngas and subsequently into fuels and chemicals. The company is also working on modular reactor units and integrated process solutions. Reformable is a spinout from DTU and receives support through BII’s collaboration with the Villum Foundation within Power-to-X.
Aperio Therapeutics
Aperio Therapeutics is developing a new long-acting biological treatment targeting energy deficiency and cellular signalling. The therapy is aimed at diseases related to metabolic physiology. The company receives support through BII’s collaboration with XISTA in Austria.
Lucore Technology
Lucore Technology develops photonic hardware for artificial intelligence. By using light and multiple optical frequency channels, Lucore aims to make AI computing faster and more energy-efficient, thereby reducing energy consumption, heat generation and latency compared with conventional electronics. Lucore Technology builds on research from Aarhus University and Leibniz University Hannover.
Copenhagen Microsystems
Copenhagen Microsystems develops advanced equipment for micro-, and nanofabrication based on so-called 3D Ice Lithography. The technology makes it possible to manufacture complex three-dimensional micro- and nanostructures with a resolution down to below 50 nanometres directly inside a scanning electron microscope. The company is a spinout from DTU.
Lizard Photonics
Lizard Photonics is developing integrated nanoelectromechanical photonics. The technology is designed to provide compact and energy-efficient control of light at chip level, with applications in data centres, AI, quantum technology and advanced sensors. The company is a spinout from DTU.