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Umeå Biotech companies raised 301 million SEK last year

Umeå Biotech Incubator

Companies and alumni from Umeå Biotech Incubator (UBI) raised 301 million SEK in capital investment and grants in 2021.

This is a huge increase of 243 million SEK compared to the previous year, states Umeå Biotech Incubator.

“It’s an absolutely fantastic amount. We work hard to help companies attract investment, so it is clear that our incubator process is working. Of the companies that raised money, 50 percent have a female CEO, which is extra gratifying,” says Jennie Ekbeck, CEO of UBI.

A positive spiral

Umeå-based biotech companies Lipum and Lipigon were both listed on the stock exchange in 2021, which contributed considerably to the huge increase in investment. Another ten companies also attracted capital during the year, and companies in Umeå Biotech Incubator have amassed SEK 551 million in financing since 2015.

“The number of jobs in companies represented by UBI has increased by 17 percent per year as a result of increased turnover together with the increase in investment.”

“It’s a positive spiral. When companies attract capital they are given the conditions to develop products, which helps them to grow further – and then they become even more attractive to investors,” says Ekbeck. “The number of jobs in companies represented by UBI has increased by 17 percent per year as a result of increased turnover together with the increase in investment.”

She believes it is important for the entire Umeå region to know how much investment has been made, as it not only underlines that Umeå is an attractive place for investors, but also that companies located in the region have sought-after competences and exciting business ideas.

“The life science industry is growing steadily, and there is considerable demand for more facilities to persuade even more companies to establish themselves here.”

“The life science industry is growing steadily, and there is considerable demand for more facilities to persuade even more companies to establish themselves here. We estimate that 15,000 square meters of laboratory facilities alone need to be built by 2030 to meet demand. Being in a city that attracts investors is obviously a huge advantage,” she says.

Female CEOs

Of the 12 companies that attracted capital in 2021, six of them have a female CEO.

“Our incubator process contributes to gender equality in terms of attracting equity investment. The value of the companies led by women are impressive, which demonstrates that we have helped reduce the disparity in valuations between companies led by men and companies led by women. This is something we are very proud of,” says Ekbeck.

The companies that attracted equity investment in 2021 are: Metacurum, Hiloprobe, Vakona, Quretech Bio, Lipigon, Protest Diagnostics, Brain stimulation, Spinchem, Lipum, Omnio, Umecrine and Inficure Bio.

Photo of Umeå Biotech Incubator team: Malin Grönborg