Icelandic biotechnology company ArcanaBio recently won the "Nordic Accelerator Life Science 2026 competition", an annual life sciences competition organized by the Swedish-American Chamber of Commerce in New York and supported by Ernst & Young. This marks the first time an Icelandic life sciences startup has won the competition.
ArcanaBio competed against some of the most promising Nordic life sciences and health technology companies targeting the U.S. market. The judging panel included representatives from several New York-based venture capital firms. The award was accepted by Dr. Dominic Suciu, Chief Scientific Officer and co-founder of ArcanaBio, from Barbara Wennerholm on behalf of the Swedish-American Chamber of Commerce in New York and Elisabeth Granhage, Partner at Ernst & Young in Stockholm.
During the competition, ArcanaBio presented a new technology that will enable individuals to detect and monitor important health-related proteins, including from saliva samples, using a diagnostic device based on novel photonics technology and artificial intelligence that the company has been developing over the past several years.
The technology, which recently received a U.S. patent, lays the foundation for a new generation of personalized healthcare solutions that will make routine health monitoring from home possible, enabling individuals to track their long-term health with the support of artificial intelligence.
As part of the prize, ArcanaBio received access to office and meeting facilities in Manhattan, New York, together with access to the Swedish-American Chamber of Commerce’s international network and advisory services.
ArcanaBio is one of ten companies selected for investment through The New Business Venture Fund Kría’s Frumsjóður 2023 investment initiative. Other investors in ArcanaBio include Novo Nordisk, as well as Icelandic and U.S. angel investors. The company also recently secured approximately ISK 100 million in grants from both the Icelandic Centre for Research and Innovation Fund (Tækniþróunarsjóður) and the European Union’s Eurostars programme.
We extend our heartfelt congratulations to everyone at ArcanaBio on this outstanding achievement.
