The companies named in the program include a pan-European mix of startup initiatives and university research projects. The selected companies are as follows:
- Flash Diagnostics, which is developing microscopy technology for use in the clinical diagnosis of cancer patients
- Stimuliver, which is developing a "disruptive" liver implant that can treat critically failing liver function in humans
- Commit Biologics, a spinout from Aarhus University that is utilizing B-specific domain antibodies to target a variety of cancers
- HEI Therapeutics, a digital therapeutics company that has a medical-grade home monitoring system for thyroid conditions
- NewOstomyLife, which has developed new technology for collecting output from ostomies
- EvodiaBio, a bioindustrial company that produces sustainable, natural aromas for the food and beverage industry
- Bioomix, which develops microbial technology to replace fungicides, synthetic fertilizers, and antibiotics
The 12-month Venture Lab program is designed to help propel research-based ideas with high-growth commercial potential into viable startup companies, according to the Denmark-based institute.
Besides being awarded a risk-free convertible loan of 500,000 euros ($590,400 U.S.), the seven ventures will receive scientific and team development support and will gain access to BII labs and offices located in Copenhagen.
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