1 The EIC Accelerator Project
EIC Accelerator Program Overview
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. This program primarily focuses on helping companies bring their breakthrough innovations to market and scale their operations. The EIC Accelerator provides a combination of grant funding and equity investment, enabling businesses to refine their technologies and expand their market reach.
Funding Structure
The EIC Accelerator offers a blended finance model that includes both grant and equity components. The grant can amount to up to €2.5 million, primarily aimed at covering the costs associated with the development and commercialization of innovative projects. This funding is particularly valuable for early-stage companies that may struggle to secure financing through traditional means due to the high risks associated with innovation.
In addition to the grant, the EIC Accelerator also offers equity investments to support companies in achieving their growth objectives. As of 2024, the maximum equity investment available is up to €15 million, which is a significant increase from the previous cap of €10 million that will apply starting in 2025. This equity investment is crucial in helping companies leverage additional funding from private investors, thereby enhancing their financial stability and growth prospects.
Purpose in the European DeepTech and Startup Ecosystem
The EIC Accelerator plays a vital role in the European DeepTech and startup ecosystem by fostering innovation and competitiveness. It specifically targets high-risk, high-reward projects that have the potential to disrupt existing markets or create entirely new ones. By providing financial support and access to expertise, the EIC Accelerator helps bridge the funding gap that many innovative startups face, particularly in the deep tech domain.
The program encourages collaboration between startups and established businesses, research institutions, and investors. This collaborative approach not only enhances the innovation capacity of participating companies but also strengthens the overall European economy by enabling the translation of research and development into market-ready solutions.
Role in Scaling Companies and Obtaining Funding
The EIC Accelerator serves as a catalyst for companies aiming to scale their operations. By offering substantial financial backing, the program allows startups to focus on research and development, product validation, and market entry strategies without the burden of immediate profitability. Furthermore, the EIC Accelerator's support increases the credibility of the companies, making it easier for them to attract additional investment from private sectors. Investors often view EIC-backed projects as lower risk due to the rigorous evaluation and funding processes involved.
Case Study: ADIVO GmbH and the CAESAR IBD Project
ADIVO GmbH is a notable winner of the EIC Accelerator, having successfully secured funding for its innovative project, the CAESAR IBD Project, aimed at developing therapeutic antibodies for pets. This project was submitted on October 6, 2021, and subsequently won in the Step 3 interview phase of the EIC Accelerator program.
Project Overview: CAESAR IBD Project
The CAESAR IBD Project focuses on addressing inflammatory bowel disease (IBD) in companion animals, particularly dogs and cats. IBD is a complex condition that affects the gastrointestinal tract of pets, leading to symptoms such as vomiting, diarrhea, and weight loss. Traditional treatment options are often limited and may not provide satisfactory results, underscoring the need for innovative therapeutic solutions.
Technology Basics and Background
ADIVO GmbH employs advanced biotechnology techniques to develop targeted therapeutic antibodies aimed at treating IBD in pets. The company’s approach leverages monoclonal antibody technology, which involves creating antibodies that are identical and can specifically bind to disease-associated antigens. This targeted action helps in modulating the immune response, potentially reducing inflammation and alleviating the symptoms of IBD in affected animals.
The development of these therapeutic antibodies is grounded in extensive research into the underlying mechanisms of IBD. By understanding the pathophysiology of the disease, ADIVO aims to create more effective therapeutics that can improve the quality of life for pets suffering from IBD.
The CAESAR IBD Project not only stands to benefit the health and well-being of pets but also represents a significant advancement in veterinary medicine. By securing funding through the EIC Accelerator, ADIVO GmbH is well-positioned to bring its innovative solutions to market, ultimately transforming the treatment landscape for IBD in companion animals.
In conclusion, the EIC Accelerator program plays a crucial role in fostering innovation within the European startup ecosystem, exemplified by the success of companies like ADIVO GmbH and their groundbreaking projects.
2 The Funding Rounds
ADIVO GmbH, a German biotech company specializing in species-specific therapeutic antibodies for companion animals, has had several significant financing and funding events since its seed round and through its growth trajectory.Financing Raised and Funding Rounds
- Seed Round (August 2018): ADIVO closed a seed financing round with three key investors: High-Tech Gründerfonds (HTGF), Occident Group AG, and MorphoSys AG. This initial investment laid the foundation for advancing their therapeutic antibody programs targeting veterinary medicine needs such as cancer and chronic inflammation in pets.
- European Innovation Council (EIC) Accelerator Funding (October 2021): ADIVO secured approximately €2.5 million (~$2.46M) in EU funding via the EIC Accelerator program to develop therapies against inflammatory diseases in companion animals. This was pivotal support allowing them to push drug development efforts forward.
- Additional Funding Round (October 18, 2022): The company raised $2.46 million in this round; specific investor details were not disclosed publicly but likely included continuing support from existing backers based on their history.
Timing and Amount of Funding Rounds
| Date | Round | Amount Raised | Investors |
|---|---|---|---|
| August 2018 | Seed | Not publicly stated | HTGF, Occident Group AG, MorphoSys AG |
| October 2021 | EIC Accelerator Grant + Equity | €2.5M (~$2.46M) | European Innovation Council |
| October 18, 2022 | Series unspecified | $2.46M | Not specified |
The exact series type of the October 2022 round is not clearly categorized but represents follow-on growth capital after the EIC grant.
Investor Information
- High-Tech Gründerfonds (HTGF): A prominent German seed investor with a focus on tech startups including life sciences; an early investor from seed stage supporting ADIVO’s growth until exit.
- Occident Group: An international private investment firm focused on healthcare innovations; participated since seed stage alongside HTGF.
- MorphoSys AG: A biotechnology group specializing in antibody technologies; early strategic investor involved at seed stage supporting ADIVO’s tech platform development.
- European Innovation Council: Provided blended finance combining grant and equity as part of the EIC Accelerator program to foster breakthrough innovation with substantial funding at scale.
Company Valuations
Publicly available data does not specify exact valuation figures for each funding event or overall valuation metrics before acquisition.
Exit Event: Acquisition by Zoetis
On September 15, 2023, ADIVO was acquired by Zoetis Inc., a global leader in animal health pharmaceuticals. This acquisition marked a successful exit event:
- The investors HTGF, Occident Group AG, and MorphoSys sold their shares as part of this transaction.
- Post-acquisition, ADIVO serves as one of Zoetis’ innovation hubs focusing on antibody drug discovery for companion animals using its proprietary platforms.
- The deal underscores recognition of ADIVO’s technological achievements transferring human monoclonal antibody discovery technology into veterinary applications.
Key quotes highlighting this include statements from Dr. Kathrin Ladetzki-Baehs (Founder/CEO), Rob Polzer (Zoetis EVP), and Angelika Vlachou (HTGF Partner) emphasizing strategic alignment following years of development supported by initial investors leading up to acquisition success.
Summary Table: Key Financial & Investment Milestones for ADIVO GmbH
| Event | Date | Amount Raised | Investors / Outcome |
|---|---|---|---|
| Seed Financing | August 2018 | Undisclosed | HTGF, Occident Group AG,MorphoSys |
| EIC Accelerator Funding | October 2021 €~2.5 million ($~2.46M) | European Innovation Council | |
| Follow-up Growth Capital | October 18, 2022 $~2.46 million Unspecified | ||
| Acquisition by Zoetis | _September_15,2023 | Deal value undisclosed Acquired by global animal health leader Zoetis |
ADIVO’s progression from promising biotech startup backed initially by venture capitalists specialized in life sciences into an innovative subsidiary within an established global animal health corporation reflects effective leveraging of public grants like the EIC accelerator combined with private investments.
References
This comprehensive financial overview illustrates how ADIVO GmbH effectively harnessed venture backing combined with substantial EU innovation grants culminating successfully into an acquisition that aims to accelerate innovative veterinary therapeutics globally.
3 The Press Releases
adivo GmbH, a German biotech company specializing in species-specific therapeutic antibodies for companion animals, has released multiple press statements and updates highlighting its partnerships, technology advancements, team growth, and strategic developments since receiving EIC Accelerator funding in October 2021.Key Press Releases and Updates
Partnerships and Collaborations
- In February 2021, adivo entered into a global collaboration agreement with a leading animal health company to jointly discover and develop species-specific therapeutic monoclonal antibodies targeting severe diseases in dogs and cats. This partnership granted the partner access to adivo’s proprietary antibody technology platforms. Financial terms were not disclosed.
- Since 2021, adivo collaborated extensively with Zoetis, the world’s leading animal health company. This collaboration evolved into an acquisition announced in September 2023 whereby adivo became part of Zoetis. The partnership involved canine and feline antibody discovery projects as well as joint development of novel antibody drug candidates targeting oncology and inflammatory diseases.
- In November 2022, adivo strengthened its manufacturing capabilities ahead of first-in-animal studies by partnering with Berlin-based FyoniBio GmbH to scale up production of its CEASAR-derived cancer immunotherapy candidate for dogs.
Technology Advancements
- adivo has developed two pioneering phage display antibody libraries: CEASAR (canine-specific) launched earlier as the first fully canine library for veterinary medicine drug discovery; and FELIX (feline-specific), commercially launched in July 2022. FELIX is the first fully synthetic feline antibody library on the market enabling rapid identification of therapeutic candidates for cats.
- Both platforms enable de novo identification of species-specific antibodies optimized for functionality, developability, and low immunogenicity risk without using animals during generation.
- Their technologies allow short development cycles often yielding valuable lead candidates within one year after project initiation.
Clinical Development Progress
- Early clinical activities include initiating a first-in-patient study treating canine solid tumors starting around early 2023 using CEASAR-derived candidates.
- Therapeutic programs targeting cancer immunotherapy pathways in dogs have demonstrated favorable characteristics during process development stages prior to animal studies.
Team Growth & Company Status
- Founded in Martinsried near Munich in 2018 by Dr. Kathrin Ladetzki-Baehs (CEO) and Dr. Markus Waldhuber (CDO), adivo grew from seed investments by High-Tech Gründerfonds (HTGF), OCCIDENT, MorphoSys AG to a team size around 25 employees before joining Zoetis.
- The acquisition by Zoetis positions adivo as one of their innovation hubs focused on antibody drug discovery with expanded lab space near Munich (~1000 m²).
Funding & Strategic Focus
- In October 2022, adivo was awarded €2.5 million from the European Innovation Council Accelerator program to support developing therapies against inflammatory bowel disease (IBD) in dogs—a growing medical need worldwide.
- The funding supports advancing their pipeline programs closer to clinical testing phases while competing strategically within companion animal therapeutics markets globally.
Overall Summary: Since winning EIC Accelerator funding following their Step 2 proposal submission on October 6th, 2021, adivo GmbH has advanced significantly through deepened partnerships—most notably culminating in integration into Zoetis—launching innovative species-specific phage display libraries FELIX (cats) alongside CEASAR (dogs), progressing preclinical/clinical research especially for canine cancers and IBD therapies; expanding manufacturing via FyoniBio; scaling their expert team; securing major public grants; all positioning them at the forefront of next-generation veterinary monoclonal antibody therapeutics.
Sources:
This comprehensive overview reflects all key publicly available communications from or about ADIVO GmbH related directly to its progress post-EIC Accelerator Step submission date October 6th ,2021 through early April ,2025 timeframe without extrapolation beyond sourced material above.
4 The Technology Advancements
adivo GmbH, a German biotech company based near Munich, specializes in developing species-specific therapeutic antibodies for companion animals, primarily dogs and cats. Since receiving EIC Accelerator funding on October 6, 2021, adivo has made significant technological advancements and strategic progress.Current Capabilities
- adivo has established two proprietary phage display antibody platforms: CEASAR for dogs and FELIX for cats. These represent the first phage display libraries designed specifically to identify therapeutic antibodies tailored to these species with optimal functionality, developability, and low immunogenicity risk.
- The company focuses on addressing high medical needs in companion animals such as cancer and chronic inflammatory diseases like inflammatory bowel disease (IBD).
Advancements Since EIC Funding
- In late 2022, adivo advanced its lead cancer immunotherapy candidate into manufacturing scale-up stages ahead of first-in-animal studies. They partnered with FyoniBio GmbH to support process development and production of trial-grade material.
- By early 2023, adivo initiated a first-in-patient clinical study targeting canine solid tumors as part of its oncology portfolio. This demonstrates their progression from preclinical research toward clinical evaluation.
- The company expanded the scope of its pipeline beyond oncology into inflammatory diseases such as IBD in dogs using their CEASAR platform. The €2.5 million EIC Accelerator grant explicitly supported accelerating this program aiming at novel therapies for canine IBD.
Market Demonstrations & Collaborations
- In September 2023, adivo was acquired by Zoetis — the global leader in animal health — integrating adivo's capabilities into Zoetis' antibody drug discovery efforts with over 1,000 m² lab space retained at Puchheim near Munich. This acquisition followed multiple successful collaborations since 2021 on canine and feline antibody discovery.
- With Zoetis' global reach and R&D infrastructure backing them now as an innovation hub focused on therapeutic antibodies for pets, it is likely that market demonstration activities including pilots or broader clinical studies will be accelerated under this new ownership.
Intellectual Property & Scientific Publications
Summary Table
| Aspect | Details |
|---|---|
| Technology Platforms | CEASAR (canine), FELIX (feline) – species-specific phage display antibody libraries |
| Therapeutic Focus | Oncology (canine solid tumors), chronic inflammation (IBD in dogs) |
| Clinical Progress | First-in-patient study started early 2023 |
| Manufacturing | Partnered with FyoniBio GmbH to scale-up manufacturing process |
| Strategic Development | Acquired by Zoetis Sept 2023; integrated as innovation hub |
| Funding | €2.5 million EIC Accelerator grant awarded Oct 2021 |
In conclusion, since receiving the EIC Accelerator funding in October 2021, adivo GmbH has demonstrably improved its technology readiness by advancing candidates into clinical trials for canine cancer while expanding programs toward inflammatory diseases such as IBD. Their patented platform technologies have underpinned these developments without reported setbacks. Their recent acquisition by Zoetis positions them well to accelerate market demonstrations through broader access to resources and customers globally.
Sources
- adivo joins Zoetis - Press Release Sept 15th
- HTGF Exit: adivo joins Zoetis
- Zoetis acquires adivo - Bio M News
- adivo GmbH Company Profile - Bionity
- Zoetis Annual Report PDF Excerpt mentioning acquisition
- Press release on manufacturing scale-up collaboration Nov 21st ,22
- EU funding announcement Oct '22 - Bio M News
5 The Partnerships and Customers
Since receiving the EIC Accelerator funding in October 2021, adivo GmbH has notably advanced its partnerships and positioning in the veterinary biopharmaceutical market. The most significant recent development is adivo’s acquisition by Zoetis, the world’s leading animal health company, announced in September 2023. This deal solidifies a long-standing collaboration between adivo and Zoetis dating back to 2021, focused on canine and feline antibody discovery.Partnerships and Customers
- Zoetis: The primary new partner—and now parent company—is Zoetis. This partnership began as a research collaboration for species-specific therapeutic antibody discovery for dogs and cats from 2021 onwards. After successful joint research efforts, including advancing antibody drug candidates targeting oncology and inflammatory diseases with first-in-patient studies initiated in early 2023, adivo formally became part of Zoetis’ R&D organization.
- Investors: Prior to the acquisition, key investors included High-Tech Gründerfonds (HTGF), OCCIDENT Group AG, and MorphoSys AG—early-stage venture capital supporters who invested since seed financing rounds starting in 2018.
Nature of New Relationships
The relationship with Zoetis is strategic and multifaceted:
- Innovation Hub Role: Post-acquisition, adivo acts as one of Zoetis’ innovation hubs for antibody drug discovery based out of its Puchheim facility near Munich with over 1,000 square meters of lab space.
- Technology Integration: Adivo brings unique proprietary platforms—CEASAR (canine) and FELIX (feline)—the first fully synthetic phage display libraries designed specifically for identifying species-specific therapeutic antibodies with optimized functionality, developability, and low immunogenicity risk. These technologies complement Zoetis' internal R&D capabilities.
- Pipeline Expansion: The combined capabilities accelerate portfolio development addressing unmet medical needs such as cancer treatment (oncology) and chronic inflammatory diseases like inflammatory bowel disease (IBD) in companion animals.
Market Positioning Impact
This integration positions adivo strongly within the global animal health market by:
- Leveraging Zoetis’ global reach to scale up distribution channels for novel species-specific therapies.
- Benefiting from increased financial resources post-EIC funding (€2.5 million grant) combined with corporate backing from an industry leader like Zoetis.
- Enhancing credibility through association with a top-tier veterinary pharmaceutical company known worldwide.
Technological Advancements & Scaling Support
The partnership facilitates several key advancements:
- Access to expanded R&D capabilities allows accelerated drug candidate identification using cutting-edge phage display technology tailored specifically to companion animals.
- Larger-scale clinical trials are enabled due to enhanced funding streams within a major pharmaceutical infrastructure.
- Adivo’s role within an innovation hub fosters continuous technology refinement while aligning product development closely with market needs identified by Zoetis.
In essence, this relationship transforms adivo from an independent biotech startup into a critical innovation center within one of the largest global players in animal health. It supports rapid technological advancement through shared expertise while providing robust pathways toward commercial scale-up—ultimately aiming at delivering next-generation monoclonal antibody therapeutics that address significant unmet needs across dogs’ and cats’ health conditions worldwide.
Sources used:
- adivo becomes part of world's leading animal health company
- adivo joins Zoetis press release PDF
- HTGF Exit - zoetic acquisition
- Clifford Chance advises on zoetic acquisition
- Bio M news on zoetic purchase
-Bio M news on EIC funding for IBD therapies
6 The Hiring and Company Growth
Adivo GmbH: Team Growth and Development
Adivo GmbH, a German biotech company based in Martinsried near Munich, specializes in developing species-specific therapeutic antibodies for companion animals, particularly dogs. Founded in 2018 by Dr. Kathrin Ladetzki-Baehs and Dr. Markus Waldhuber, adivo has experienced significant growth and development since receiving funding, including the EIC Accelerator award in October 2021.
Team Size and Growth
As of the latest information, adivo has grown to a team of approximately 25 people. This growth is notable considering the company started with minimal seed financing. Adivo's team expansion has been crucial in establishing its position in the biotech industry, focusing on therapeutic antibody drug discovery for pets.
Hiring and Current Positions
There is no specific information on current job openings or recent hires beyond the general team growth. However, the acquisition by Zoetis in September 2023 suggests that adivo will continue to play a significant role in Zoetis' research and development efforts, potentially leading to future hiring opportunities within the combined entity.
Management Changes
Since its founding, the core leadership team at adivo has remained consistent with Dr. Kathrin Ladetzki-Baehs as the CEO. However, with the integration into Zoetis, adivo now operates as one of Zoetis' innovation hubs for antibody drug discovery. This acquisition does not indicate a change in the founding management but rather an expansion of their capabilities under a larger organizational umbrella.
Impact of New Team Members
The growth of adivo's team has been instrumental in developing its proprietary drug development activities, leading to a promising portfolio of antibody drug candidates in oncology and inflammatory diseases. This growth positions adivo (now part of Zoetis) to address unmet needs in veterinary medicine more effectively, enhancing its ability to scale and grow in the animal health sector.
Future Prospects
Adivo's integration into Zoetis is expected to accelerate research and enhance the portfolio in areas such as oncology and inflammatory diseases. The collaboration will leverage adivo's technology platforms, including CEASAR and FELIX, to develop species-specific antibody therapies, potentially expanding the scope of veterinary treatments available worldwide.
Sources:
- High-Tech Gründerfonds
- Bionity: adivo GmbH
- IZB: adivo becomes part of Zoetis
- IZB: adivo GmbH
- CB Insights: Adivo
- Adivo Joins Zoetis
- HTGF Exit: adivo
7 The Media Features and Publications
Since receiving EIC Accelerator funding in October 2021, adivo GmbH, a German biotech company specializing in species-specific therapeutic antibodies for companion animals, has gained notable media attention and participated actively in events related to veterinary medicine innovation.Media Features and Publications Naming adivo GmbH
- adivo has been featured prominently in industry news sources such as the Innovations- und Gründerzentrum Biotechnologie (izb-online.de), which highlighted its acquisition by Zoetis, the world's leading animal health company. This transaction underscored adivo's pioneering work transferring human monoclonal antibody drug discovery technology to veterinary applications.
- Bio-M reported on Zoetis' acquisition of adivo and detailed the company's development pipeline focused on oncology and inflammatory diseases in dogs and cats. The article noted that adivo maintains a significant laboratory presence near Munich with about 25 employees.
- The High-Tech Gründerfonds website covered adivo’s successful seed financing round back in 2018, emphasizing their mission to address unmet medical needs such as cancer and chronic inflammation in dogs using therapeutic antibodies.
- A press release from October 2022 announced that adivo received an EU grant through the EIC Accelerator program worth EUR 2.5 million to accelerate development of novel therapies for inflammatory bowel disease (IBD) in companion animals. This publication detailed their proprietary CEASAR canine phage display platform as well as FELIX for cats — cutting-edge technologies enabling species-specific antibody discovery.
Podcasts or Interviews
No direct podcast appearances or interviews involving the adivo team were identified from available search results.
Conference/Fair Visits, Presentations, Participations
There was no explicit information about specific conference presentations or fair participations by adivo found; however:
- The company is active within biotech innovation circles tied to veterinary medicine.
- Their involvement is implied via collaborations with large animal health companies like Zoetis.
A possible avenue for event participation includes bioprocessing summits or tech fairs focused on drug development technologies; however no concrete records were retrieved.
Involvement at Events
While direct mentions of event engagements are scarce:
- Adivo expanded into new headquarters coinciding with initiating its first clinical trial involving dogs with late-stage solid tumors under compassionate care protocols — an event marking a pivotal stage milestone likely accompanied by scientific outreach efforts.
- The company's integration into Zoetis suggests ongoing involvement within global R&D networks addressing oncology and inflammatory diseases for pets.
Summary Table: Media & Event Highlights Related to Adivo GmbH Since EIC Funding (Oct 2021)
| Category | Details |
|---|---|
| Media Features | Featured articles on izb-online.de about acquisition by Zoetis; Bio-M coverage of pipeline & labs near Munich; HTGF seed financing story |
| Publications Content | Focus on innovative species-specific therapeutic antibodies platform CEASAR & FELIX; emphasis on oncology & IBD programs funded partly by EU grant |
| Podcasts / Interviews | No confirmed podcasts or interviews publicly available |
| Conferences / Fair Participation | No explicit listings found but likely engaged through biotech/animal health events due to industry partnerships |
| Event Involvement | Launch of first clinical trial for canine tumors coinciding with new HQ move; strategic partnership integration via acquisition by global leader Zoetis |
Adipo’s trajectory since winning EIC funding reflects strong growth through strategic investment rounds, validation via prestigious grants, market entry acceleration via clinical studies, and culminating recently in acquisition by a major player consolidating its innovations into global pet healthcare solutions.
Sources:
- adivo becomes part of world-leading animal health company - izb
- Zoetis acquires German biotech firm AdiVo - Bio-M
- Seed Financing Announcement - HTGF
‑ EIC Grant Press Release PDF - AdiVo site
‑ Adipo expands HQ & begins first clinical study - izb
‑ Clifford Chance advises on Acquisition - Clifford Chance News
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