There is a miss spelling in the text – it’s COPENHAGEN not COPENAGHEN
Then yellow over NML is not good (too much happing in the graphics) – and the “house” behind the flag colours make us think of a high building and not medical science. Maybe if the “house” was the NML text ??
The icon with the wings, rod and snake is generally used in pharmacy. If you image-google “laboratory “ or “laboratory science” you will see a little of what I means. :-)
But use of The little mermaid is not useable, it signal tourism because this is a general trademark for Copenhagen and several tourism companies already uses The little mermaid
I'm sorry but you're doing a mistake. the Caduceus (the icon with wings, rod and snake) is a MEDICAL icon. You can read about it here: http://en.wikipedia.org/wiki/Caduceus (WIKIPEDIA) and if you search "LABORATORY SCIENCE" on google, you can find also the same logo. I know that Caduceus sometimes is used instead the Rod of Asclepius (the real Medicine icon), if you want I can invert it.