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BioInnovation Institute and Deep Tech Lab – Quantum Join Forces to Fund Quantum Companies With Life Science Applications

BII Building

Insider Brief

  • BioInnovation Institute (BII) announced that twelve new companies have entered its Venture Lab acceleration program for early-stage companies.
  • Of the 12, two quantum companies, Alea Quantum Technologies and DiaSense, will for the first time in BII’s history join the Venture Lab program.
  • The companies will receive financial support of 500,000 EUR and access to infrastructure, business development expertise, and an extensive investor network.
  • Image: News Oresund/Wikimedia

PRESS RELEASE — BioInnovation Institute (BII), an international non-profit foundation incubating and accelerating world-class life science research, announced today that twelve new companies have entered its Venture Lab acceleration program for early-stage companies.

As part of a collaboration with BII’s in-house quantum start-up accelerator, Deep Tech Lab – Quantum, two quantum companies, Alea Quantum Technologies, and DiaSense, will for the first time in BII’s history join the Venture Lab program. Through the Venture Lab program, the companies will receive financial support of 500,000 EUR and access to infrastructure, business development expertise, and an extensive investor network to bring them closer to commercializing their technologies with great potential for the life science market.

“We are excited to facilitate and utilize the potential synergies between life science and quantum technologies that have already been identified, particularly within quantum computing and sensing. The two quantum companies we have decided to support financially are outstanding examples of how quantum technologies can enable better products and solutions for the life science industry,” says Cathal Mahon, Chief Business Officer at Deep Tech Lab – Quantum.

The two quantum companies represent solutions with a significant impact on the life science industry.

Alea Quantum Technologies is addressing the need to safeguard digitalized patients, which is becoming increasingly crucial as genomic data is a cornerstone in developing and optimizing diagnostics. The company has developed an extremely high-speed Quantum Random Number Generator that has the potential to provide a compact, cost-effective solution to the rapid encryption of large amounts of patient data.

DiaSense is a spin-out from the Technical University of Denmark, which develops a new type of quantum microscope. Since microscopes are the workhorse for numerous scientific discoveries and the development of medical technologies, they could have significant commercial potential within the life science industry.

Sparking cross-collaboration

Building on BII’s unique platform, these newly established quantum companies will work alongside companies contributing with solutions within therapeutics, women’s health, planetary health, and health tech.

Chief Business Officer at BioInnovation Institute, Bobby Soni, sees great potential in collaborating across different verticals and scientific borders:

“Working across the planetary, therapeutics, women’s health, health tech, and quantum industries, these twelve start-ups have demonstrated the drive and tenacity that align with BII’s mission in creating innovative solutions to address current challenges in these sectors. We look forward to supporting these start-ups in bringing their innovations to fruition by providing our knowledge, network, funding, and infrastructure to build successful companies,” he says.

Since its inception in 2018, BII has supported 100 start-ups and projects with EUR 89 million alongside the venture capital, industry, and business expertise it provides to help them accelerate to the next level.

BII’s start-ups have raised over EUR 428 million in external funding from local and international investors. Recent company successes include Embark Laboratories, Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Cirqle Biomedical.

Deep Tech Lab — Quantum is an independent entity established by BioInnovation Institute in 2023 to leverage Denmark’s world-leading research in quantum physics with BII’s recognized excellence in creating, fostering, and maturing start-up and spin-out companies within life sciences. Deep Tech Lab – Quantum is currently working with other quantum start-ups as part of NATO’s DIANA program.

More information about BioInnovation Institute

More information about Deep Tech Lab – Quantum

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With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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