BioInnovation Institute (BII), a life sciences incubator run by pharmaceutical firm Novo’s research endowment, Novo Nordisk Foundation, has accepted seven projects into its latest cohort.
The batch consists of four startups and three research programmes from around Europe, and their target sectors include drug development, health and bioindustrial technology.
The startups include stem cell therapy developer and Karolinska Institute spinout Boost Pharma, cell fermentation technology developer Enduro Genetics and Kesmalea Therapeutics, a producer of protein degrader compounds, as well as an unnamed spinout of Rigshospitalet focused on male infertility.
Each company will receive €470,000 ($570,000) in debt financing and laboratory space from BII, while the research programmes have grants for the same amount.
The news comes after BII welcomed eight life sciences startups and research projects to its initiative in September 2020. It said it has now deployed $58m of capital across over 85 projects and companies since its inception in 2018.