Since the establishment of the company in 1996, deCode has gradually been considered a leading Iceland biotech company. It has become the most important global institution specializing in researching and analyzing the human genome. It also leads the world of biotechnology in the discovery of genetic risk factors for common diseases.

With the unique expertise and population resources, deCode has discovered crucial genetic risk factors for dozens of common diseases consisting from cardiovascular disease to cancer. The gene discovery engine of this company works with a range of unique approaches and resources, comprising detailed genetic and medical data on 500,000 individuals from over the world participating in the discovery, proprietary statistical algorithms, and informatics tools for gathering, analyzing, visualizing, as well as storing large amounts of data. Therefore, This has led to some major discoveries over the past 20 years. Many of their findings have directly implemented life-saving medical interventions that would have been carried out 30 years ago.

It is apparent that deCode is well-positioned to specialize in generating and analyzing whole sequence data for large-scale studies. With a combination of population, the generous participation of numerous people, the genealogies, and high-quality universal healthcare, it is convenient for the institution to make possible very large-scale studies of virtually any common disease.

Founded: 1996

Headquarters: Reykjavik, Iceland

Website: https://www.decode.is/

Another leading biotechnology organization in Iceland is Primex. It is a marine biotechnology business and a world leader in the sustainable production of high-quality chitosan and pure chitosan powder. Its market products are released under the brand names ChitoClear® and LipoSan Ultra.

Primex provides chitosan from the pure source of the North Atlantic Ocean where the shrimp shells of Pandalus borealis are the essential components in goods and powering chitosan factory. Since 1999, Primex has been managing a state-of-the-art plant for chitin and chitosan production in Siglufjordur, Iceland. Equipped with modern technology which is computerized, the chitosan factory can deliver consistent goods with high quality all year around. In addition to that, these chitin and chitosan derivatives are important components for drugs or other substances, and the applications seem almost endless. They are used worldwide in the food and drug industries. The company has also developed incredible wound dressings in order to protect against infections, as well as reduce pain and discomfort.

In 2012, Prime was awarded “The Icelandic Innovation Award” by Research-Rannis, Promote Iceland, Innovation Centre Iceland and The New Business Venture Fund. This prize is given to innovative companies whose business models are based on creative ideas of science and biotechnology. Additionally, the management of this company is considered an example for other institutions to follow.

Founded: 1999

Headquarters: Oskarsgata 7, 580 Siglufjordur

Website: https://www.primex.is/

Alvotech is the next name that is listed as one of the largest biotechnology companies in Iceland. It is an institution specializing in biopharmaceuticals, exclusively focused on the development of high-quality biosimilar products. The staff of this company are considered specialists in creating biogeneric products, according to the value chain from cell line development to commercial manufacturing. The organisation's common goals are to be a top business in the biosimilar space and to deliver high-quality cost competitive products to patients over the globe.

With the aim to broaden the abundance of these crucial biologic medicines to patients around the world, Alvotech constantly develops and manufactures high-quality, cost-competitive biosimilars. Moreover, the quality of products is always guaranteed, thus these goods easily get access to the customers. This company also has a deep appreciation for the positive impact that biological medicines have had on health care. From insulin to vaccines to monoclonal antibody cancer therapies, biological medicines are revolutionizing the way to treat diseases and improve people's health.

In a world where the disease is a leading cause of other serious comorbidities, Alvotech has benefitted countless patients globally. It is managed by a message: If there is a proven biological medicine, it should be accessible to all patients in need.

Founded: 2013

Headquarters: Reykjavík, Iceland

Website: https://www.alvotech.com/

ORF Genetics, a privately-owned company, is one of the largest biotech organizations in Iceland. It is devoted to developing innovative and economic methods to produce recombinant proteins, which are formed by introducing foreign genes into a cell. These solutions are more efficient and safer than other protein expression systems. Particularly, recombinant proteins produced by this company are beneficial for the vaccine and pharmaceutical industries.

ORF Genetics developed a unique expression system namely ORFEUS which uses barley grain as a tool to manufacture recombinant human and animal proteins. Thanks to ORFEUS, an extensive portfolio of recombinant proteins for stem cell technology research, skincare, biopharma, and the cultured meat market was born. Over the years, the researchers of this institution are continuously finding out proteins that can be applied in various markets.

ORF Genetics is approaching the medical and scientific research market, as well as the cell culture media and diagnosis methods with its goods. Their product portfolio has steadily expanded to come up with the expectations of customers without risks in the process of growth factors and cytokines.

Founded: 2001

Headquarters: Kópavogur, Iceland

Website: https://www.orfgenetics.com/

Matís is another notable biotechnology company in Iceland. Since the founding of this organization in 2007, Matís has built up a network of offices throughout the nation. There are currently five offices, comprising the company's headquarters in Reykjavík, and a group of employees that are connected to all departments of the company.

The research unit of Matís is divided into five groups. Each of them forms core activities and knowledge base to solve different research and innovation projects that are carried out at any given time: Biomaterials, Biotechnology, Genetics, Microorganisms and Value Chains. In addition to that, this company also includes two other groups of experts to take the measurements of microorganisms and specific substances. These groups pay close attention to analysing the safety, health and nutritional value of food and related products. Besides, both of them also support the methods of research projects as well as serve the business community with measurements, advice and information.

To become a top biotech company in Iceland, Matís hopes to make a contribution to not only the biotech development but also the finance of the Icelandic government. Therefore, this company constantly creates incentives for those wishing to invest in biotechnology.

Founded: 2007

Headquarters: Reykjavík, Iceland

Website: https://matis.is/

Benchmark Genetics is the next leading biotech organization in Iceland. This company specialises in aquaculture genetics, with five in-house breeding programmes that are focusing on three main species: salmon, shrimp and tilapia. It currently presents in every major aquaculture market and for a wide range of species.

With a mission to promote the development of biotechnology in Iceland, Benchmark Genetics continuously renovates during its operation. The strategy of the company is making use of modern breeding technologies such as QTL and Genomic Selection. Although technology is an important foundation, customer-focused is also an essential factor. Long-standing collaborations and partnerships with leading aquaculture businesses are just as important when working on genetic improvements and developing new products and services.

Additionally, biosecurity is the highest priority in the operation of Benchmark Genetics and the status of its products. As far as the manufacturing process is concerned, this company takes responsibility for any related biological risks. Simultaneously, Benchmark Genetics hopes that the customers are able to take out the potential of genetics.

Founded: 2000

Headquarters: Bæjarhraun 14220 HAFNARFJÖRÐUR

Website: https://www.bmkgenetics.com/

Established in 2006, Nox Medical gradually occupied a crucial position in the biotechnology market in Iceland. With a group of engineers, investors and medical professionals who have extensive experience in this field, it provides industry-standard methods for sleep monitoring and diagnostics.

The main goal of Nox Medical is to bring to the market a new generation of products to advocate the surge of sleep medicine with easy-to-use solutions, embraced by established practitioners. Its products are now available worldwide through distribution partnerships. This company has a high-quality team of professors and scientists with a background in clinical research, AI and data science, and engineering. They are working to improve the collection, analysis, and processing of data collected during a sleep study.

Nox Medical is continuously focused on quality and is a certified ISO 13485 company. On top of that, it is committed to improving the quality of its products and service to meet the needs of its customers.

Founded: 2006

Headquarters: Reykjavík, Iceland

Website: https://noxmedical.com/