Danish business angels network seeks new investors for biotech  

2003.06.19
Business angels network BioBan is looking for new investors to back fledgling biotech projects

Sten Verland, one of the initiators of a business angels network (BioBan) with biotech interests, is looking for new investors to back fledgling biotech projects. BioBan’s purpose is to promote research with commercial interest for new biotech and medico companies, with network investors generally making pre-seed or seed investments.

 

Not surprisingly, the demand for business angels in biotech is far greater than the supply, which is why Sten Verland is encouraging newcomers to affiliate to the network. He believes the time is just right for making investments, and that they will deliver better returns than ever before. BioBan’s plan is to hold up to 8 meetings annually where a host institution such as a university presents 3-4 projects which could be interesting to investors. This week the Danish Growth Fund (Vækstfonden) is hosting a BioBan meeting where a number of projects will be presented.

 

According to Danish Business Angels Network (DBAN) there are around 1,400 business angels in Denmark. 200 are registered in DBAN and 75 of these are particularly active with annual investments of around DKK 2 million. In BioBan there are currently 12 business angels. The news is reported on Biotechdenmark’s website.

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