COPENHAGEN, Denmark, Sept. 21, 2022 /PRNewswire/ — BioInnovation Institute (BII), an international commercial, non-profit foundation incubating and accelerating world-class life science research, announces today that it has entered a collaboration with Imperial College London to launch a new translational project under its Bio Studio program. The program aims to foster the creation of new life science start-ups based on research from world-class scientists to benefit people and society.
As part of the collaboration, Molly Stevens FREng FRS, Professor of Biomedical Materials and Regenerative Medicine at Imperial College London will head a translational research project in HealthTech. The goal of the project is to deliver a transformative approach for early diagnostics and monitoring of highly debilitating diseases through the development of an ultrasensitive target-agnostic biosensing platform. The research will focus on disorders that could potentially address major global healthcare challenges. The technology is to be deployed as a cost-effective diagnostic platform that will provide artificial intelligence-based evaluation of molecular fingerprints to inform clinical decisions with the aim of slowing disease progression and improving treatment plans.
BII will support the project with an in-kind grant of up to DKK 6.5M per year for a project period of up to three years as well as with business development expertise, intellectual property support, investor network and infrastructure.
The Bio Studio program is a recently established BII program with the ambition to build and run a leading life science company creation facility in Europe. The present project follows a collaboration announced in June this year with the European Molecular Biology Laboratory (EMBL) in Heidelberg.
Commenting on the collaboration, Markus Herrgård, Chief Technology Officer at BII, said: “We are very pleased to work alongside Prof. Stevens and her team as part of the Bio Studio program. The program is focused on accelerating the development and commercialization of state-of-the-art technology by partnering with leading research institutions and entrepreneurial academics. As a globally recognized leader in diagnostic biosensing with a strong entrepreneurial background, Prof. Stevens is an excellent fit for the program.”
Molly Stevens FREng FRS, Professor of Biomedical Materials and Regenerative Medicine at Imperial College London, said: “Translating research outcomes that will reach those most in need has been a core focus of my research career. I am a passionate advocate for the democratization of medicine and the accessibility to healthcare for all. Collaborating with the BII in the Bio Studio program will empower my team to deliver on those goals to benefit patients. I am truly excited about working with a team of professionals, including a dedicated Entrepreneur-in-Residence, to translate our science into innovative products and solutions.”
Since its inception in 2018, BII has supported 62 start-ups and projects with EUR 50 million alongside the venture capital, industry and business expertise it provides to help them accelerate to the next level. In total, BII’s start-ups have raised over EUR 207 million in external funding from both local and international investors. Recent company successes include Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Cirqle Biomedical.
About the BioInnovation Institute Foundation
The BioInnovation Institute Foundation (BII) is an international commercial foundation with a non-profit objective supported by the Novo Nordisk Foundation. BII operates an incubator to accelerate world-class life science innovation that drives the development of new solutions by early life science start-ups for the benefit of people and society.
BII, located in Copenhagen, Denmark, offers start-ups and early-stage projects within health tech, therapeutics, and bioindustrials state-of-the-art labs, vibrant office facilities, business development, start-up business incubation, access to high-level mentoring and international networks, plus unique funding opportunities of up to 1.3 million euro per start-up and 2.4 million euro per project.
Since the inauguration of BII in November 2018, BII has awarded 50 million euros to 62 high-growth start-up companies. Read more on www.bioinnovationinstitute.com
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SOURCE BioInnovation Institute