Alvotech & Changchun High & New Technology enter into Joint Venture


Biopharmaceutical company Alvotech and Changchun High & New Technology (CCHN) have entered into a joint venture. Alvotech, headquartered in Iceland, is developing biosimilar monoclonal antibodies and is the sister company of Alvogen – a global leader in developing, manufacturing and selling generic, brand, over-the-counter and biosimilar products....

Kerecis Partners with MedStar Health Research Institute


Kerecis, an Icelandic medical device company, and MedStar Health have announced a partnership to begin an Investigational Device Exemption trial on burn wounds using their fish-skin product. This partnership will include a feasibility trial aimed at obtaining FDA approval for a full-fledged clinical trial in the near future. A full clinical trial w...

Icelandic Health Tech Company Wins Nordic Startup Awards


At the 2018 Grand Finale of the Nordic Startup Awards in Copenhagen, the Icelandic health-tech company Kara received the People’s Choice Award, beating out startups from across the Nordics. In addition to winning the People’s Choice Award, Kara was nominated for three additional categories. In April 2018, Kara completed a $1.5m USD (180-million ISK...

Iceland as a Location for US and FDA Clinical Trials


As of November 2018, there are over 40 clinical trials taking place in Iceland and registered with the NIH U.S. National Library of Medicine. These trials are structured to collect data for US-filing purposes and include those recruiting, enrolling by invitation, and active, but no longer recruiting. The types of trials include medical device, proc...

Virtual Reality Health-Tech Company Receives Nordic Recognition


FLOWVR was founded by meditation experts, visual artists, and technologists with the mission to combine cutting-edge virtual reality (VR) with meditation and mindfulness tools by leveraging the SAMSUNG Gear VR. FLOWVR is working with companies to help their employees de-stress and improve their mental health. Studies indicate that annual productivi...

Pharmaceutical R&D Investments on the Rise in Iceland


Investments in research and development manufacturing within the pharmaceutical industry are continuing to increase in Iceland, including those from Novartis, Alvotech, and Coripharma. According to Frumtök, the Icelandic Association of the Pharmaceutical Industry, Novartis has contributed over 160m ISK over the previous three years. Contributing to...

Coripharma Acquires Actavis Manufacturing Site


This past summer, Coripharma acquired the pharmaceutical manufacturing facilities of Actavis located outside of Reykjavik. Actavis is a global pharmaceutical conglomerate belonging to the Teva group. The newly established company has been under development for the previous two years and will focus on contract manufacturing, specifically producing g...

Research-Based Cosmetics and Advantage of the Icelandic Ecosystem


Iceland is quite known for its abundance of fresh water and ease-of-access to geothermal energy to heat homes and businesses. As is the case with ORF Genetics, the low-cost geothermal energy and pure water have created substantial opportunities to scale their business as international traction is garnered. Established in 2001, ORF uses barley grain...

Over 1,000 Years of Genetic History Contribute to Strong Biotech R&D


Dating back over 1,000 years, the Icelandic genome has changed considerably. However, as many in the life science space know, the Icelandic genome was mapped by a joint-collaborative study. This study, led by deCODE Genetics (acquired by Amgen) and the Icelandic genetic research centre, linked Icelandic genealogy, health registers, and genetic mate...

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