A quick note before we begin: I’m currently on sabbatical and just completed driving the perimeter of stunning mainland Iceland with my husband. While planning this trip, I wanted to find a way to keep sharing something with you each week while being able to leave my laptop thousands of miles away at home. As such, I prepared two special edition pieces inspired by places I’d be visiting. Last week was Biotech in Scotland, if you missed it! The Biotech Tea ☕ newsletter format will return next week. I hope you enjoy!
In the last few years, I bet you can name at least one friend or family member that’s visited Iceland. It’s known to many as “The Land of Fire and Ice” as it contains both active lava flows and arctic glaciers. Its absolutely stunning landscapes (black sand beaches, rainbow rhyolite mountains, geometric rock formations, & natural hot springs just to name a few), feel almost otherworldly and attract tourists from all over the world.
The Ring Road (which I just finished driving!) is the name of the ~800 mile stretch of pavement (well 98% paved) that takes you around the entire country. Reykjavik, the capital, which holds over a third of the country’s population, is on the Southwestern side of the island. With less than 400,000 citizens, it’s Europe’s most sparsely populated country.
So, what does biotech look like in Iceland? As you can imagine, being so remote, it’s a smaller biotech ecosystem, but still rich in history. While the country has 7 public or private universities, the country’s oldest and most established university, the University of Iceland has the largest biotechnology opportunities. It runs an Applied Biotechnology Master’s program as well as a Doctorate in Bioengineering.
Let’s take a look at some of the highlights in biotech as I learned more about it!
deCode genetics, is harnessing population genetics to advance gene discovery.
One of the most interesting things I learned when researching the country is that nearly HALF of the population has volunteered to provide a DNA sample and medical record information to take part in gene discovery and population genetics work. The effort was led by deCODE Genetics, founded by Kari Stefansson in 1996. While it has since been acquired by Amgen, it is still going strong with the goal of using population-scale genetic information to better understand disease risk factors and advance precision therapeutics.
Most recently, and published in Nature Medicine, the work of deCode has contributed to better understanding the genetic risk factors associated with fibromyalgia.
The acquisition by Amgen has led to a fruitful relationship where the genome sequencing and analysis strengths of deCode can be combined with acquired Amgen clinical trial data.
Kerecis, since acquired by Coloplast, harnesses the wound healing potential of Icelandic fish skin!
At Kerecis, fish skin from wild Atlantic cod in Iceland (a sustainable fish stock), is transformed into wound care material! The idea behind their work is to provide a minimally processed graft (less damage or denaturation) that retains as much of the original molecular organization, mechanical properties, and 3-D structure of the original skin as possible. But why cod? Two reasons! One, there is no known viral transmission risk to humans, and two, the molecular structure and thickness of their skin is actually quite similar to humans — with an epidermis and underlying dermis that contain many of the same cell types.
In April of this year, they presented data at the American Burn Association Annual Meeting showing that burn patients who were treated with the fish-skin product as opposed to cross-linked collagen and synthetic polyurethane had significantly shorter hospital stays and 5% points less graft loss. This is just one of the many applications in their pipeline.
Robert Wessman, founder of biosimilar development giant, Alvotech, has also helped Fruman, Iceland’s first biotechnology incubator, get off the ground.
Robert Wessman is a prolific biotech influence in Iceland. Over his lifetime he has led several biotech companies, including Alvotech. Started in 2013, Alvotech’s sole mission is to effectively deliver biosimilars (biologic generics) to the global market. It has end-to-end capabilities from cell line development to manufacturing.
The Fruman (‘cell’ in Icelandic) biotechnology center, centered in Reykjavik and launched just recently in 2025, started with significant backing from Wessman and is closely tied to Alvotech’s footprint and technology. It speaks to Wessman’s desire to nurture Iceland’s biotech impact. Fruman is built with 4 pillars:
Fruman innovation center - a space for accelerating entrepreneurial biotech ideas
Fruman lab - a fully equipped research facilities available for rent
Fruman academy - the education and skills development pillar
Fruman biotechnology fund - investment fund to help support & sustain ideas
So, to end…
While Iceland is small in population and remote in location, it has an increasingly impactful biotech industry — building heavily off willing citizens, unique terrain, and talented scientists.