The BioInnovation Institute (BII) has welcomed three new drug discovery start-ups into its Venture Lab acceleration programme as part of its latest cohort of eight companies.
The 12-month Venture Lab programme 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 programme, the early-stage companies also get an exclusive opportunity to apply for €1.3m in follow-up funding through BII’s Venture House programme.
Bobby Soni, Chief Business Officer at BioInnovation Institute, said: “These eight early-stage companies are a fantastic addition to BII’s Venture Lab. The start-ups have been selected as they demonstrate great potential to drive the innovation of solutions to current challenges in human and planetary health. We once again look forward to supporting these start-ups by providing our knowledge, network, funding, and infrastructure to build successful companies.”
Each start-up will be assisted in overcoming the challenges of growing a business, allowing them to progress rapidly towards the market.
The new therapeutics companies BII has accepted into the Venture Lab acceleration programme are:
- Loma Therapeutics, which is developing targeted immunotherapy for efficient and safe treatment of patients with HPV infection, dysplasia, and cancer.
- metaLead, which is developing therapies to treat metal-related diseases, currently focused on Wilson disease, lead poisoning, and neurodegeneration with brain iron accumulation.
- Amalus Therapeutics, which is reshaping the lives of people affected by cancer and fibrotic diseases.
Since its inception in 2018, BII has supported 87 start-ups and projects. Recent company successes include Embark Laboratories, Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Cirqle Biomedical.
Edited by Diana Spencer, Senior Digital Content Editor, Drug Discovery World