Nordic Life Science 1
28 pursue their research was significantly affect
ed, particularly during the lock-down period with reduced access to lab space, test facilities and employees, notes Lüders. “We have been responsive to this and allowed for extensions of the funding periods for the grant holders. We have also observed a shift from physical to online meetings among the granted initiatives, and we have seen impressive efforts to create new online platforms and forums in very short time periods.” In addition, many companies in the life science sector are small and vulnerable to the reduced number of investment deals seen during the pandemic. Moreover, clinical trials have been significantly affected, with either halted initiation of new studies or reduced recruitment of patients. “To keep the momentum in the life science sector we therefore need to ensure that new financing instruments and investments are established in Denmark, as well as a support system for establishment of new public-private partnerships,” emphasizes Lüders. “The pandemic has shown us that collaborations between academia, healthcare, governmental initiatives, foundations and industry are a central factor for development and longevity of the life science sector, as well as for effectively fighting the pandemic.” n open competition, entrepreneurs can apply for financing and business development through BII’s programs. The Creation House program offers business development, access to BII’s international entrepreneurial culture, office space and laboratory area in Copenhagen, plus a low-risk convertible loan of up to EUR 1.3 million for each high-growth start-up company. Another branch of the NNF’s activities is its fullyowned subsidiary Novo Holdings, enabling investments in life science companies at all stages of development, and assisting the companies with both capital and knowhow. “We primarily focus on investing in Europe and the United States, and we think about the life science sector as a group of diversified subsectors, including biotechnology, medical technology, healthcare IT, pharmaceuticals, healthcare services, bioindustrials and payers and providers,” says Lüders. Just like all industries, the Danish life science industry has been affected by the ongoing COVID-19 pandemic. When it comes to academia, researchers’s ability to e also says that the pandemic has highlighted the possibilities there are in utilization of the vast amount of Danish and Nordic health data. “The NNF has a particular focus on supporting the infrastructure within this field through our strategic initiatives and granting tools, and in this way accelerates clinical innovation in Denmark.” The NNF is supporting a large number of projects and initiatives in relation to combatting COVID-19, and so far they have awarded grants for this purpose totaling around DKK 416 million. “This includes DKK 250 million to Statens Serum Institut (SSI) in connection with the establishment of Testcenter Danmark, a national COVID-19 test centre, DKK 20 million for the development of two new antibody tests, as well as DKK 82.5 million for 45 projects that aim to mitigate the short-term healthrelated effects of the COVID-19 epidemic across the Danish Realm. In the fall of 2020, DKK 40 million was allocated for a program supporting research into the long-term health consequences of COVID-19 illness,” says Lüders. “In addition we have awarded DKK 14.4 million for 15 international initiatives that can mitigate the consequences of the COVID-19 pandemic in areas of the world where there are many refugees.” DENMARK