Biotech Integra Therapeutics, creator of gene writing tools to make advanced therapies safer and more effective, has been awarded up to €10.5 million from the EU via the European Innovation Council (EIC) Accelerator.
The EIC Accelerator is currently the only program that combines grants and equity for emerging European deep tech companies. As a result, the company has received a €2.5 million grant alongside equity investment of up to €8 million.
Headquartered in Barcelona, Integra was founded in 2020 by Dr Marc Güell and Dr Avencia Sánchez-Mejías as a spin-off of the Pompeu Fabra University (UPF). Its lead technology is FiCAT, a best-in-class platform geared towards resolving the current limitations on gene writing: size, precision and stability.
Integra Therapeutics will earmark the initial €2.5 million to pre-marketing activities of its FiCAT platform for T cell and hematopoietic stem cell (HSC) engineering to develop cell therapies in rare diseases, autoimmune diseases, and oncology.
In parallel, the company will generate FiCAT proof of concept data on its first gene therapy, using systemic administration with non-viral vectors through lipid nanoparticles (LNP) to treat a serious pediatric hepatic disease.
According to Dr Avencia Sánchez-Mejías, CEO and co-founder of Integra Therapeutics:
“The funding from the EIC Accelerator is a huge impetus for Integra Therapeutics and our FiCAT gene writing platform because it will lead to the development of the first therapeutic product in the preclinical and clinical regulatory phases for a disease with a huge medical need in children that is currently unmet."
Together, the selected companies will receive an estimated €411 million in funding, of which up to €165 million in grants and an estimated €245 million in equity. Almost all selected companies (96 per cent) will receive the full blended finance option.
The equity investments will be made through the EIC Fund, EIC’s dedicated investment arm which attracts other investors to increase the overall investment to over three times the EIC investment on average. The selected companies have a geographical spread spanning 17 countries, including 5 proposals coming from widening countries. 21 per cent of selected companies are led by women.
Here are some examples of innovative companies that will receive support:
- Latitude, a French launcher company, with the ambitions to become a world leading end-to-end space access provider, developing and operating a dedicated micro-launcher.
- VAXDYN, a Spanish biotech start-up, leading innovation with a novel vaccine platform targeting antimicrobial-resistant (AMR) infections, a critical global health threat.
- Mifundo, an Estonian company developing the first cross-border AI and data platform. They provide a technology layer to passport credit histories across borders through one single API.
Regarding the funding recipients Sánchez-Mejías notes,
“I am pleased to see that 21 per cent of the companies chosen are led by women, which is an improvement over the previous call, although there is still room for improvement in the gender gap in leadership positions in our sector.”
Integra Therapeutics also plans to expand the FiCAT platform to extra-hepatic indications, thus award licenses and co-develop new therapies to allow the maximum number of patients to benefit from its technology.
Lead image: Dr Marc Güell and Dr Avencia Sánchez-Mejías. Photo: uncredited.
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