First exit in BioInnovation Institute’s history

In a press release issued on August 30th, Embark Laboratories, which entered the MVA-member, BII’s, Venture House program two years ago, announced that Novo Nordisk has acquired Embark Biotech and has entered a three-year R&D collaboration to discover and develop novel pharmaceuticals. Embark's shareholders will receive an upfront cash payment and can receive potential development, regulatory, and commercial milestones of up to EUR 456M. “When we started at BII, our drug discovery platform still needed maturation to be commercially attractive. Furthermore, at that time, there was much less investment willingness in the obesity and cardiometabolic disease space. Thus, BII’s help was vital for the company. We are grateful they supported us early so we could mature our science further in their vibrant incubation environment with access to state-of-the-art laboratories and business development experts. Their help has been crucial for our success,” says CEO of Embark Laboratories, Casper Tind Hansen.