BioInnovation Institute Adds €7.8M for Six Life-Science Startups

Copenhagen-based BioInnovation Institute (BII) has committed a further €7.8 million to six of its portfolio companies, awarding each an additional €1.3 million to help move their technologies toward the market. The new capital takes the total each firm has received from BII to €1.8 million, following earlier grants of €500,000 apiece. According to Tech.eu, the latest funding was awarded as additional support to advance commercialisation across healthcare, agriculture and sustainable energy.

The six recipients are PanTarg, 3Sonic, Inia Biosciences, Yngvi Bio, Proxi Biotech and Sagava. PanTarg, a spin-out from the University of Copenhagen and Rigshospitalet, is working on an antibody-based cancer therapy that combines two targeted approaches, with a focus on aggressive cancers including pancreatic cancer. 3Sonic, a spin-out from Rigshospitalet and the Technical University of Denmark (DTU), is developing AI-driven 3D ultrasound technology to let surgeons evaluate cancer tissue in real time during operations. Inia Biosciences, which came out of the Boston and Oxford innovation ecosystems, is developing treatments for inflammatory diseases, starting with psoriasis.