Prediktera from Umeå in northern Sweden has made the list of Europe’s most dynamic Artificial Intelligence (AI) startups.
“This increases our visibility and opportunities to find partners, employees and customers in Europe and around the world,” says Andreas Vidman, CEO of Prediktera.
Umeå Biotech Incubator (UBI) is one of the hosts of the Swedish Life Science Investor Meeting (24-25th November), a digital event that will bring biotech companies and potential international investors together.
“The COVID-19 pandemic has caused untold problems for businesses, but one advantage it has given life science companies is the opportunity to meet international investors who may not have necessarily visited Sweden otherwise. Thanks to digital technology we can now reach out further than ever before”, says Jennie Ekbeck, CEO of Umeå Biotech Incubator.
Fredrik Almqvist, CEO of QureTech Bio based in Umeå in northern Sweden, is among thousands of researchers hoping to draw attention to the challenges of antibiotic resistance as part of World Antibiotic Awareness Week (18-24 November).
“It’s a problem that’s comparable to the climate crisis. We have to find new ways to kill antibiotic resistant disease-causing bacteria so we can save millions of lives every year,” he says.
The G4 Cancer Cure, a new project developing a treatment for aggressive breast cancer, has recently joined the Umeå Biotech Incubator.
“We are extremely happy and look forward to some exciting times ahead. This is an important step for us in the development of our product,” says Associate Professor Nasim Sabouri, one of the project’s three owners.
Jennie Ekbeck, CEO of Umeå Biotech Incubator (UBI), has been nominated for the prestigious Nordic Startup Awards in the ‘Ecosystem Hero of the Year’ category.
“Wow! I’m so happy to be nominated! It is proof that all our work to create better conditions for life science development in Sweden has been appreciated,” she says.
Venture capital company Nascent Invest has bought shares in Umeå-based QureTech Bio as part of a targeted new share issue. The multi-million SEK investment will provide long-term security for the Swedish life science company as it continues its work to discover and develop new solutions to combat antibiotic-resistant bacteria.
“This investment means we can develop faster and take on more employees. As a result, we can get our medicines to market faster and hopefully save more lives,” says Fredrik Almqvist, CEO of QureTech Bio.
A recruitment drive is underway at Diamyd Medical’s new vaccine facility in Umeå after the company announced it is moving production of the GAD65 protein, the active substance in the diabetes vaccine Diamyd, from abroad to Sweden.
“This move gives us greater control and more knowledge about our study drug. Personally it feels fantastic to be involved in building a vaccine facility from the ground up”, says Maja Johansson, Site Manager in Umeå.
Swedish Inficure Bio has signed an agreement with a publicly listed US biopharmaceutical company that develops drugs for several chronic and life-threatening diseases.
“We will now begin testing the effects of their drug substances in our unique model. The company is world-leading in drug development, so this recognition is significant for us,” says Inficure Bio’s CEO, Sofia Mayans.
HiloProbe has been granted SEK 2 million from Swedish Innovation Agency Vinnova to validate a product that detects and helps treat people with colorectal cancer.
“This is an important grant for us and means we can validate our product and make it available to the healthcare industry sooner,” says Lina Olsson, CEO of HiloProbe.
Umeå-based Lipigon Pharmaceuticals has signed agreements with universities in Shanghai and Shenzhen to develop a new drug that can potentially reduce the number of deaths linked to Covid-19.
“Right now there are very few treatments available for Acute Respiratory Distress Syndrome (ARDS), which can be fatal to some Covid-19 patients. The standard treatment is oxygen and the use of respirators. We hope to change that,” says Lipogon’s CEO, Stefan K Nilsson.
A new and different Facebook group is enabling companies in the Umeå region to buy and sell second-hand laboratory equipment, as well as gain access to cheaper lab services.
“Umeå University, the County Council and a number of life science companies in Umeå are often in need of a laboratory, but new equipment is expensive and requires a great deal of knowledge to operate. This new Facebook group allows Umeå companies to sustainably support each other,” says Jennie Ekbeck, CEO of Umeå Biotech Incubator.
Umeå-based Lipigon Pharmaceuticals has attracted SEK 16.6 Million in a new share issue that will help it get nearer to its goal of reducing the number of global deaths caused by cardiovascular disease.
“We are extremely proud our new shares issue was oversubscribed, particularly during the ongoing Coronavirus pandemic when many investors are feeling more cautious. It is an indication of the level of belief in us,” says Stefan K Nilsson, CEO of Lipigon.
Umeå-based QureTech Bio has received preliminary approval for a patent application in the US for a drug candidate that helps treat tuberculosis.
“The US is a key market for us so this news really helps strengthen our position. We are at a very exciting stage right now,” says Fredrik Almqvist, CEO of QureTech Bio.
Construction of Diamyd Medical’s new vaccine manufacturing unit in Umeå is now underway, with a number of key roles being actively recruited to help staff the new facility. Newly-appointed site manager Maja Johansson is responsible for establishing the process for the production of GAD, the active substance in the study drug Diamyd.
Umeå biotech company HiloProbe has attracted millions in new investment capital after successfully developing a diagnostic and prognostic product for colon and rectal cancer.
“Capital is crucial for getting our product to patients and helping them,” says Lina Olsson, HiloProbe’s CEO.
After many years of private ownership, Vännäs-based Agrisera has been acquired by Swedish biotech company Olink Proteomics AB.
“The Agrisera brand was very strong in itself, but this step offers us great opportunities that can benefit both our customers and partners,” says Erika Gelfgren, CEO of Agrisera.
Umeå-based Lipigon Pharmaceuticals AB has signed a major new agreement with Chinese biotech company HitGen to develop drug candidates that treat blood fat disorders and cardiovascular diseases.
“We want to create effective treatments and contribute to a better quality of life for patients,” says Stefan K Nilsson, CEO of Lipigon.
Last summer Umeå-based UmanDiagnostics was acquired by major US life science company Quanterix for $22.5 million. Now it is recruiting additional staff at its offices in Umeå to meet an expected rise in new orders.
“We’re continuing to invest and are confident we’ll come out of the Coronavirus crisis even stronger, despite the uncertainty being faced by many industries,” says Niklas Norgren, CEO of UmanDiagnostics.
Pro Test Diagnostics has developed a unique antidoping kit for blood doping, which will soon be out on the market. The company now takes in SEK 17 million in capital from Nascent Invest AB and the co-owner Fort Knox Förvaring AB.
“Sports federations all over the world, testing agencies and the International Olympic Committee all signal that there is a great need in the market. Thanks to new capital, we are taking a step in the fight against blood doping”, says Anders Mannelqvist, CEO of Pro Test Diagnostics.
Publicly listed Diamyd Medical is to open a new vaccine manufacturing facility in Umeå.
“This is fantastic news and demonstrates that Umeå is a growing life science hub,” says Jennie Ekbeck, CEO of Umeå Biotech Incubator.