Novo Nordisk Foundation invests over 80 million Icelandic krone in Icelandic biotech company ArcanaBio to advance innovative health diagnostic technologies.

Information on the Target

ArcanaBio is an innovative biotechnological company based in Iceland that focuses on developing advanced techniques for protein analysis. Recently, the company has secured funding from the BioInnovation Institute (BII) in Denmark, a prominent body that supports pioneering start-ups with an emphasis on biotechnology. As one of the ten companies selected for BII’s investment initiative last year, ArcanaBio has received approximately 4 million Danish krone (over 80 million Icelandic krone) in funding aimed at advancing groundbreaking technology they have been developing recently.

The funding and support from BII will facilitate the development of ArcanaBio’s novel light-based technology, which allows for highly accurate protein analysis. The company has already applied for a patent for this technology in the United States earlier this year, indicating its commitment to protecting its intellectual property and advancing its innovative solutions.

Industry Overview in Iceland

The biotechnology sector in Iceland is experiencing significant growth, driven by advancements in research and technological development. The country is home to a burgeoning ecosystem of biotech firms that are increasingly recognized for their ability to develop s