The Novo Nordisk Foundation has allocated up to DKK5.5bn ($860m) to BioInnovation Institute (BII), a leading institute for life science and deep tech innovation in Copenhagen.
The funding will enable BII to expand its activities into new strategic areas and geographies and support more entrepreneurs and start-up-companies, thereby strengthening innovation in Denmark and Europe. The new funding frame runs from 2026 to 2035.
The Novo Nordisk Foundation said it is empowering BII to take a leading role in Europe’s response to pressing issues within human health, planetary health and societal resilience. With BII’s platform that has already helped create and develop more than 130 companies and attracted more than DKK7bn ($1.1bn) in external funding, the aim is to ensure Denmark’s innovation engine can scale in a way that supports broader European competitiveness.
Over the coming years, BII expects to scale its activities by significantly increasing the number of start-ups supported each year. While supporting life science and biotech start-ups will remain key, the new long-term support from the Novo Nordisk Foundation enables BII to venture into new scientific and technological fields like AI and quantum.
“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 – and ultimately driving the growth and entrepreneurial culture that will benefit European competitiveness,” said Mads Krogsgaard Thomsen, CEO of the Novo Nordisk Foundation.
Since BII’s establishment in 2018, venture capital investments into Danish biotech have increased more than fourfold.
With the support of BII in Denmark, the national platform can be leveraged to back BII’s ambition of expanding in Europe, working in partnerships with leading universities and research institutions. Physically anchored in Innovation District Copenhagen, BII also serves as a hub for connecting Denmark’s life science ecosystem with leading innovation districts across Europe.
“None of this would be possible without the long-term support from the Novo Nordisk Foundation, which provides exceptional conditions for bringing more scientific breakthroughs to the market to address global challenges. We have proven that our innovation platform is successful, but we cannot push the boundaries of innovation alone. Strengthening partnerships will remain a top priority as we continue to develop Denmark’s innovation ecosystem and help ensure Europe’s competitiveness,” said Jens Nielsen, CEO of BII.
BII’s platform has already attracted commercial and philanthropic partners. Notable collaborations include joint initiatives with Ferring and the Gates Foundation to advance women’s health innovation, and more recent partnerships with the Villum Foundation and the Lundbeck Foundation to support early-stage start-ups in Power-to-X technologies and brain disease treatment.