BII's Start-up Stories: October

Welcome to the October edition of BII's Start-up Stories! Despite the season, there is nothing spooky about this October's start-up news that range from clinical study approvals, international investments, and leadership changes. Cozy up and immerse yourself in all the achievements and activities of our portfolio this month.

Sounds interesting? Dig into the digest below!

On October 11, ALGIECEL shared a press release announcing the completion of an EUR 6.5M equity investment round led by British West Hill Capital. The capital will towards constructing the start-up's first full-scale demonstration unit at Novonesis , scheduled for Q3 2025. Subsequently, Berlingske published an article about the investment, detailing Algiecel's history, mission and vision. Algiecel took part in BII's Venture Lab program back in 2022. The start-up produces nutrient rich ingredients for the food and feed industry by leveraging captured industrial CO2, microalgae via photosynthesis, and innovative technology built into modular photobioreactors.

In the start-up game, every penny counts, so many of our start-ups invest time in grant applications. For SOLID Therapeutics these efforts pay off, as they recently received a second innobooster grant from Innovationsfonden totaling DKK 1.1M. The start-up received the first grant in 2022, the same year that it was accepted into BII's Venture Lab program. The company aims to deliver novel cancer therapeutics with dual mode of action targeting both cancer cells and immune cells.

Biotech start-up Visibuilt reached a significant milestone in October, where they successfully completed a feasibility test with NCC at The Fehmarnbelt Project, putting its fermentation-based binder, VisiBIT, up against traditional fossil fuel-based bitumen. However, the good news do not end there. Visibuilt is part of the LOOPER project alongside Munck Asfalt A/S og DTU - Technical University of Denmark , which has been awarded EUR 1.7M grant from the EUDP - Det Energiteknologiske Udviklings- og Demonstrationsprogram to develop VisiBIT further. Visibuilt recently graduated our Venture Lab program and moved into Venture House.

On October 9th, BII alumnus Adcendo could announce that they are now one step closer to getting their innovative antibody-drug conjugate treatments out into the market to help treat underserved cancers. The FDA has given the green light for them to initiate a clinical phase 1/2 study on their candidate ADCE-D01 to determine. Adcendo was accepted into BII's Venture House program in 2020.

Commit Biologics has brought in Mikkel Wandahl Pedersen as the new CSO to leverage his vast experience in antibody drug discovery and proven capability to build productive research and development teams. Prior joining Commit Biologics, Mikkel Wandahl Pedersen has worked at Symphogen and Nykode Therapeutics. In addition his position as CSO, Mikkel Wandahl Pedersen holds the position of CEO at Analona Therapeutics , which is part of BII's latest Venture Lab cohort.

In a recently published article by the Danish newspaper Berlingske , both Matr Foods and Professor Morten O. A. Sommer , who is part of the Bio Studio project 'Sweet Bliss', were highlighted as examples of how innovation supported by Novo Nordisk Foundation is spearheading the development and production of new and sustainable food alternatives.

Food-tech start-up F?RM, which develops plant-based cheeses using traditional dairy fermentation mechanisms, has been featured in Finans . The article focuses on where the company headed by Andrea Donau and Mikkel Lau Dupont is today and what it can mean for them that Denmark is about to impose a carbon tax on agriculture.

Are you itching to bring your research out of the lab and into the market? Or do you know someone who has a research-based idea that is just too good to remain that way? Our Venture Lab call is now open.

Encompassing start-up development, scientific maturation, and team development, BII's Venture Lab company supports early-stage start-ups in their journey from cutting-edge, transformative ideas into validated concepts. As part of the program, start-ups receive a founder-friendly loan of DKK 4M and gain access to BII's vast investor network, positioning them ideally to attract further funding to bring their products and solutions to market.

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