Spinout from Copenhagen Science City-partner raises state investment
SOLID Therapeutics is an early-stage start-up developing novel treatment for cancer. In January 2024 the Danish states’ Export and Investment Fund EIFO invested 670,000 Euro (5 mio. DKK) in the continued development of the company. With this latest investment, SOLID looks set to become a true Copenhagen Science City- success story.
Local research. Local incubation
Founded in March 2022, the company is based on research at Copenhagen Science City- partner University of Copenhagen. Here, the labs of co-founders Stine Falsig Pedersen, Thue W. Schwartz and Thomas M. Frimurer discovered a way to attack solid cancer cells while also stimulating the immune system. This insight bought them a ticket into the Copenhagen Science City-located incubator BioInnovation Institute.
The fact that we have a highly professional incubator programme within walking distance of world-class research environments is starting to really pay off in terms of high value companies being developed. For this reason, the Copenhagen Science City-partners are now working to improve conditions for scale-up companies. We salute SOLID Therapeutics and wish them luck with their continued development”: Kristoffer Klebak, Head of Secretariat, Copenhagen Science City.
A good history of investments and grants
Before this latest investment, SOLID Therapeutics has been backed with an Exploratory Pre-Seed grant from Novo Nordisk Foundation, a Pre-Seed grant from the Bioinnovation Institute (BII) and an Innobooster grant from Innovation fund Denmark. With the EIFO investment SOLID aims to strengthen their team and reach the next major scientific milestones, on the road towards developing novel treatments for solid tumours.
Value-creating geography
Solid Therapeutics is not the first promising Life Science company to launch in Copenhagen Science City. Between 2020 and 2023 the four local University of Copenhagen spinouts Adcendo, Avilex Pharma, Twelve Bio and most recently Embark Biotech have been part of, respectively, a series A investment, a strategic partnership and two exits with a combined potential value of over 743 million Euro (5,5 mia dkk)
About Copenhagen Science City
Copenhagen Science City is a two-square kilometre area just outside the medieval city centre. Opportunities include a hospital, a university, and a university college where you can find collaborators, five start-up communities where you can co-locate and a wealth of programmes where you can connect to mentors, investors, and advisors. Taken together, a start-up can find the help it needs from pre-seed to series A, B and C.
