#Denmark #Copenhagen #Novo Nordisk #BioInnovation Institute #DKK 5.5 billion

Significant Investment to Propel Innovation in Europe

The Novo Nordisk Foundation has made a monumental commitment of DKK 5.5 billion (approximately EUR 736 million) to the BioInnovation Institute (BII), a preeminent institute focused on life sciences and deep tech in Copenhagen. This strategic funding is set to bolster BII’s initiatives across new geographic and scientific frontiers, ultimately fueling innovation within Denmark and throughout Europe. The funding will span from 2026 to 2035.

Addressing Europe's Innovation Gap

Despite Europe’s rich pool of scientific talent and world-class research output, the continent has fallen short in converting scientific discoveries into commercially viable innovations. This lack of translation has stymied job creation and slowed economic growth, particularly in sectors critical to addressing pressing societal challenges. In this context, the Novo Nordisk Foundation’s support aims to empower BII to play a pivotal role in tackling key issues concerning human and planetary health, as well as societal resilience.

BII has already demonstrated its capabilities by nurturing over 130 startups and securing upwards of DKK 7 billion in external funding. The intention with the recent grant is to accelerate this momentum, thereby enhancing Denmark’s position as a competitive player in the European innovation landscape.

Expanding Horizons for Startups

In the coming years, BII is set to ramp up its support for emerging startups, with a particular emphasis on life sciences and biotechnology. However, the foundation’s new long-term financial backing will open doors for BII to explore innovative realms such as artificial intelligence and quantum technologies. Mads Krogsgaard Thomsen, CEO of the Novo Nordisk Foundation, emphasized the transformative aspect of this funding:

"We are giving BII the opportunity to expand its reach and further strengthen its position as a European powerhouse for innovation... This will prove instrumental in securing that even more science is translated into new companies, jobs, and solutions benefitting people and our planet."

A Proven Platform Underlining Innovation

Since its inception in 2018, the BII has signaled a shift in the landscape of venture capital investments in Danish biotech, with such investments soaring by over four times in recent years. The added support from the Novo Nordisk Foundation is crafted to capitalize on the existing framework of BII, as it seeks to establish collaborative partnerships with leading universities and research institutions across Europe.

Located in Innovation District Copenhagen, BII acts as a central hub that integrates Denmark’s life science ecosystem with other top innovation districts in Europe. Jens Nielsen, CEO of BII, noted that:

"None of this would be possible without the long-term support from the Novo Nordisk Foundation, which… brings more scientific breakthroughs to the market to address global challenges."

Collaborative Ventures and New Opportunities

The BII has already secured key partnerships with major organizations such as Ferring and the Gates Foundation to advance women’s health innovation, and recent collaborations with the Villum Foundation and Lundbeck Foundation focus on Power-to-X technologies and brain disease treatment. The new funding will not only reinforce BII’s appeal to investors but will also facilitate collaborations between academic institutions and industry partners, vital for nurturing a dynamic innovation ecosystem.

Conclusion: A Bright Future for Innovation

The BioInnovation Institute stands at the forefront of European innovation, significantly empowered by the Novo Nordisk Foundation’s generous financial backing. By reinforcing its strategic mission and expanding its scope, BII endeavors to make substantial contributions toward solving critical societal issues, generating employment opportunities, and enhancing the overall competitiveness of Europe’s innovation sector.

For further details, visit BioInnovation Institute to learn more about their mission and ongoing projects.