Novo Nordisk Foundation Invests $860M in Copenhagen's BioInnovation Institute to Boost Biotech Growth
The Novo Nordisk Foundation is investing 5.5 billion Danish kroner ($860 million) in the BioInnovation Institute (BII) in Copenhagen to scale homegrown biotechs and deep tech companies. Founded in 2018, BII aims to accelerate innovation through a venture lab for startups, a bio studio for academic researchers, and a quantum computing program.
To date, BII has facilitated the creation of over 130 companies and attracted more than 7 billion kroner ($1.09 billion) in external funding. Recent beneficiaries of BII's venture lab include Troya Therapeutics and Sulis Therapeutics. The foundation's investment, running until 2035, aims to strengthen BII's role in addressing health and societal challenges in Europe, enhancing the region's innovation capacity and competitiveness.
