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Norway invests in biotech

The Research Council of Norway has allocated NOK 454 million in funding over four years to projects in the ICT sector, biotechnology and biomedicine.

In total, 58 companies were awarded funding, and over one third of these were first-time applicants for Research Council funding. “It is a very good sign that we have received so many excellent proposals from so many new companies. For us, mobilising new actors within research and development is an important task in itself,” said Arvid Hallén, Director General of the Research Council, in a press release.

10 of the 58 companies are biotech companies. BerGenBio, PCI Biotech, Lytix Biopharma, Oncoinvent and Ultimovacs, which also are all Oslo Cancer Cluster member companies, are among the funding receiving biotech companies. They will get 10 million NOK each over 4 years, depending on the outcome of the contract negotiations between the council and the company.