The Lundbeck Foundation and BII allocate over 40 million EUR to develop groundbreaking treatments for brain diseases
CEO of the Lundbeck Foundation, Lene Skole & CEO of BII, Jens Nielsen.
A new partnership between the Lundbeck Foundation and BioInnovation Institute (BII) aims to ensure better and more effective treatments for brain diseases. Together, the parties are allocating more than 40 million EUR through 2030 to support the establishment of promising start-ups in this field.
More than one in three Danes lives with a brain disease, according to a study from Aarhus University and Aarhus University Hospital, which highlights a significant societal problem 鈥 and the need for new solutions. Several brain-focused initiatives are already underway as part of the Lundbeck Foundation鈥檚 ambitious 2030 strategy. With the new partnership, the foundation is taking another significant step by investing around 21 million EUR in collaboration with BII, which will match with an equivalent amount.
The choice of BII as a partner is deliberate. Since its establishment in 2018, BII has supported more than 120 start-ups, including several with potential new drugs in clinical phase 1 and 2 studies.
鈥淏II is recognized in Denmark and internationally for translating research into successful start-ups. Together with the Lundbeck Foundation鈥檚 deep knowledge of the brain and its diseases, we are creating a platform that can make a real difference for brain health,鈥 says Lene Skole, CEO of the Lundbeck Foundation.
Denmark as a global frontrunner
BII also expresses satisfication that the Lundbeck Foundation sees great potential in entering a partnership that could be decisive in commercializing even more brain research to benefit of patients and society.
鈥淭he Lundbeck Foundation has a strong knowledge base and network within brain diseases. At the same time, we are witnessing a burgeoning Danish innovation ecosystem with skilled universities and a highly regarded industry. The partnership will enable Denmark to be positioned even more strongly on the global stage in brain research, bringing talent and knowledge to the country and further strengthening innovation capacity,鈥 says Jens Nielsen, CEO of BII.
He emphasizes that the ambition is to identify and support the most promising projects that can ultimately deliver new and better treatments for patients with brain diseases.
Likewise, the Lundbeck Foundation has high expectations for the partnership with BII:
鈥淭he Lundbeck Foundation鈥檚 goal is to support research that can be translated into new treatments for patients with brain diseases. The journey from discovery to patient is complex and requires many competencies working together. With the collaboration with BII, we can accelerate this journey and strengthen the development of groundbreaking discoveries within brain research,鈥 says Jan Egebjerg, Director of Research at the Lundbeck Foundation.
As part of the partnership, BII and the Lundbeck Foundation, expect to support a total of 20-22 companies over a period of 5.5 years.
The Lundbeck Foundation is an enterprise foundation encompassing a comprehensive range of enterprise and philanthropic activities 鈥 all united by its strong purpose; Bringing Discoveries to Lives. The Foundation is the long-term and engaged owner of several international healthcare companies 鈥 Lundbeck, Falck, ALK-Abello, Ferrosan Medical Devices, Ellab and WS Audiology 鈥 and an active investor in business, science and people through its commercial investments in the financial markets; in biotech companies based on Danish research and through philanthropic grants to science talents and programmes in Danish universities. By 2030, the Foundation aims to increase its average annual grants to at least DKK 1bn primarily focusing on the brain 鈥 including the world's largest brain research prize: .
BII is a non-profit foundation with a commercial objective. Its mission is to support early-stage start-ups and translational research projects in bringing their science to life to benefit people and society. BII operates three programs, Venture Lab, Bio Studio, and BII Quantum Lab, to accelerate innovation within fields such as life science, biosolutions, and quantum.
Since its inauguration, BII has supported 131 start-ups with a total amount of DKK 1 billion. The companies supported by BII raised a total of DKK 6.7 billion. Currently, 20 products have been launched on the market, and seven companies have entered clinical Phase 1 and Phase 2 studies.
