Oslo Cancer Cluster has worked since 2009 to improve our members access to capital, both on the public and private side. Funding is crucial for researchers, start-ups and SME`s as it takes a long time and also a lot of funding to develop a cancer medication from bench to bedside.
Private funding – activities and achievements
One-to-one contact: We work directly with international VC’s, pharma representatives and BD’s, presenting the different members and the cluster’s common pipeline within oncology. We do this through an extensive, exclusive network built up over the years. We also offer tailored scouting events for pharma and licensing people upon request, and have hosted several visits over the years.
Meeting places – international and national: Oslo Cancer Cluster team up with other clusters internationally, and host conferences where our members may present and do partnering with key oncology players. Our signature event in Europe; the European Cancer Cluster Partnering event is set up in collaboration with our French sister-cluster Cancer-Bio-Santé and arranged every autumn since 2008.
Oslo Cancer Cluster has also sponsored several international conferences such as EPIC and AngloNordic in London, giving our members the chance to present and do partnering with international key investors and licensing people through the sponsoring deal.
In the US we have developed the International Cancer Cluster Showcase in close collaboration with several US-clusters, focusing on showcasing emerging companies for the BIO-audience, at an exclusive one-day-prior to BIO event.
In Norway we have initiated the venture part of the DNB Nordic Health Care Conference together with Oslo Cancer Cluster Member Canio’s Managing Director Ole Peter Nordby. The Conference also features emerging companies based on a pre-qualification and pitching training.
Raising private funding: through our member the Radium Hospital Research Foundation, we access a large network of national and international VC’s, among them an informal Nordic network of investors meeting bi-annually.
The Research Foundation is a key investor in several of the Oslo Cancer Cluster member companies, often together with two other investment companies; Sarsia Seed and Birk Venture in order to lower the risk of the investment also offering the company beeing invested in, a broader competence.
The Norwegian Cancer Society will invest NOK 75 million in the next 5 years to early-phase oncology companies, and will hence be a valuable contributor to much needed seed capital. Oslo Cancer Cluster and the Research Foundation have worked closely together with the Norwegian Cancer Society on this.
Public funding – activities and achievements
Investinor now invests in biotech: Oslo Cancer Cluster have in collaboration with the The Association of the Pharmaceutical Industry in Norway (LMI) changed the mandate for the Norwegian public initiated investment company Investinor, so that thay now may invest in the biotech sector as well. Prior to 2012 biotech was not among the prioritized sectors for Investinor.
Seed capital fund for biotech industry: Oslo Cancer Cluster try togetehr with other collaborators to get the Norwegian government to establish a public seed capital fund for the biotech industry. In the National Budget of 2012 several seed capital funds were launched, and in April 2013 the government opened for applicants to the different funds. None of these have so far been focusing on biotech, but we are continuing to lobby for this.
BIOTEK 2021: We have also been active contributors to the making of the Norwegian Research Council`s program BIOTEK 2021 – following the former FUGE-program. Oslo Cancer Cluster stressed that BIOTEK 2021 must become more industry-oriented and also have health as a prioritized sector, and we won through with both these arguments.
Close collaboration with both Innovation Norway and The Research Council of Norway: We work closely with Innovation Norway on the funding side, both nationally and regionally, as they enable several of our member companies to receive public support from the very beginning as start-up money to more mature funding schemes as the IFU/OFU contracts. We also work closely with the Reserach Council on several of their programs and initiatives that are crucial for our members – as well as the EU initatives Horizon 2020 and Eurostars.