Start-ups raised $1.8 billion in Q1 2016. Biopharma companies penned 33 alliances; 14 acquisitions were signed (11 in the biopharma industry).

Plummeting oil prices prompted Norway’s politicians to look at developing other industries. As a result, several programs have been launched to incentivize new areas, including biopharma and diagnostics.

Pre Diagnostics AS is a 2.5-year-old Oslo company developing a blood-based test performed by a GP and sent to a lab for early Alzheimer’s diagnosis.

Norwegian start-up CardiNor is developing a new cardiovascular biomarker, and is hopeful of attracting cash in a country where investor traditions are undergoing some changes. The financial pressures caused by falling oil prices have brought renewed attention to life science companies.