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BioInnovation Institute (BII) is providing €9.52 million in convertible loans to 17 early-stage startups selected for its Venture Programme, according to a report by tech.eu. Each company will receive €560,000, along with access to BII facilities and its support network.
Research companies across several fields
The cohort spans healthcare, biotechnology, climate technology and other research-based areas. Its companies include Fibernex, which is developing porous nanofibre electrodes for green hydrogen; KhaosGuard, which is working on laser-based greenhouse-gas measurement; and Launch Bioindustries, which uses fermentation to turn organic waste into biomaterials.
Other startups are developing medical technologies, therapeutics, food proteins, renewable chemical inputs and advanced manufacturing systems. The group also includes IQopta and Affinity AI, which are applying artificial intelligence to medical-imaging workflows and protein-binder design, respectively.
Loans come with laboratory access
The convertible loans are paired with access to BII’s Copenhagen facilities, including laboratory infrastructure, as well as its network of entrepreneurs, scientific experts, partners and investors. The programme’s support covers business, scientific and team development, as well as preparation for later fundraising.
BII says the programme is intended to help move technologies from universities and hospitals toward commercially viable companies. The financing is described as a convertible loan rather than an equity round. Conversion and ownership terms were not disclosed.
Expansion follows major foundation backing
The new cohort follows the Novo Nordisk Foundation’s announcement of €736 million in additional funding for BII. The institute plans to expand beyond Denmark, increase the number of startups it backs annually from around 20 to 30, and potentially support more companies through partnerships.
BII says it has supported more than 140 companies since it was established. The current programme brings 17 more companies into that model. The disbursement schedule and company-by-company development milestones were not disclosed.
Source: BioInnovation Institute backs 17 early-stage startups with €9.5M
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