Danish biotech startup FimmCyte is joining BioInnovation Institute’s (BII) Venture House, a program designed to further support former BII Venture Lab companies in their next phase of growth. As part of the Venture House Program FimmCyte will receive a convertible loan of €1.3M in addition to the €500K the company received during its participation in BII Venture Lab.
FimmCyte is committed to developing tailored therapeutics that focus specifically on women’s health. Their lead program, FMC2, is a disease-modifying treatment for endometriosis. The company is jointly supported by BII and Ferring Pharmaceuticals, in a strategic collaboration with the goal to advance FimmCyte’s vision and products. The partnership is expected to bring together FimmCyte’s innovative approach with the business acumen and scientific resources of these established entities.
BII’s Venture House Program consists of four sprints, each focused on a key development area to help mature the projects and attract further funding. The first sprint is designed to help companies develop an operational plan, while subsequent sprints provide training and support in fundraising, partnerships, and leadership.
Mohaned Shilaih, CEO and Co-Founder of FimmCyte comments: “We are thrilled to attract the interest of Ferring and the BioInnovation Institute and receive this significant financial support to advance our first-in-class endometriosis treatment towards first-in-human clinical studies. Endometriosis remains underfunded and under-researched and only with cross-industry and patient-centric collaborations like this one will the field advance. This collaboration sends a strong signal across the industry and academia that women’s health is commercially and scientifically rewarding. We hope that this news will incentivize more and more investment by the industry and scientific funding bodies to support endometriosis and other unmet women’s health needs.”
FimmCyte is one of six companies joining the BII Venture House Program today. Bobby Soni, Chief Business Officer at BioInnovation Institute, is excited to welcome them to the program: “These six companies have shown promise during their time in the Venture Lab program and collectively align with BII’s focus on providing solutions to benefit people and society. On behalf of the team at BII, we look forward to continuing to work alongside these innovative companies as they mature and attract funding.”