1 The EIC Accelerator Project
EIC Accelerator Program: An In-Depth Overview
The EIC Accelerator program is a cornerstone initiative within the European Innovation Council (EIC), designed to support small and medium-sized enterprises (SMEs) with high-potential innovations. It aims to foster the growth of deep-tech and startup ecosystems across Europe by providing crucial funding and support for the development and scaling of groundbreaking technologies.
Funding Structure of the EIC Accelerator
The EIC Accelerator employs a blended finance model, which combines grant funding and equity investments. The program can provide grants of up to €2.5 million, which are intended to cover costs associated with the development and scaling of innovative projects. Additionally, the program offers equity funding that can reach up to €15 million until 2024, and thereafter, it is capped at €10 million as of 2025. This equity component is designed to enable companies to secure sufficient capital from private investors by providing a safety net that reduces financial risk.
Purpose and Impact
The EIC Accelerator serves multiple purposes in the European deep-tech and startup ecosystem. Primarily, it aims to bridge the funding gap that many innovative companies face, particularly in the early stages of development. By providing both grant funding and equity investments, the program enables startups to develop their technologies more effectively and attract additional funding from private sectors. This dual approach not only enhances the financial viability of promising projects but also encourages collaboration between startups and established industry players.
Role in Scaling Companies
The EIC Accelerator plays a vital role in helping companies scale. By offering substantial funding and connecting startups with a network of investors and industry experts, the program enhances the likelihood of successful commercialization. The support offered by the EIC helps reduce the time to market for innovative products and services, enabling companies to capture market share more effectively and establish themselves as leaders within their sectors.
Case Study: Bio-Sourcing and the BioMilk-mAb Project
Company Overview
Bio-Sourcing, based in Belgium, is a pioneer in the biopharmaceutical sector, focusing on innovative manufacturing solutions. The company has recently been awarded the EIC Accelerator funding for its project, BioMilk-mAb, which aims to scale up the BioMilk platform—a revolutionary approach to biopharmaceutical manufacturing.
Project Description: BioMilk-mAb
The BioMilk-mAb project is centered around the development of a novel biomanufacturing platform that utilizes mammalian cell culture to produce monoclonal antibodies (mAbs) more efficiently and cost-effectively. This project is poised to transform the landscape of biopharmaceutical manufacturing by providing a more sustainable and scalable alternative to traditional methods.
Technology Basics and Background
Monoclonal antibodies are critical components in the treatment of various diseases, including cancer and autoimmune disorders. Conventional production methods often involve complex bioreactor systems that are not only expensive but also time-consuming. Bio-Sourcing's BioMilk platform leverages advanced cell culture techniques that optimize the production of mAbs, significantly increasing yield while reducing production costs and environmental impact.
The BioMilk technology is built on the principle of using mammalian cells that are genetically engineered to produce specific antibodies. This approach allows for the generation of highly pure and effective therapeutic proteins. In addition, the platform is designed to be modular and scalable, enabling it to adapt to varying production volumes and specific client requirements.
The funding received through the EIC Accelerator will facilitate the scale-up of the BioMilk platform, allowing Bio-Sourcing to enhance its production capabilities and meet the increasing global demand for monoclonal antibodies.
Funding Milestone
Bio-Sourcing submitted its Step 2 proposal on March 13, 2024, and subsequently won the funding in the Step 3 interview. This achievement underscores the company’s innovative approach and the potential impact of its technology on the biopharmaceutical industry.
Conclusion
The EIC Accelerator program plays a pivotal role in nurturing innovative startups like Bio-Sourcing by providing essential funding and support. Through initiatives like the BioMilk-mAb project, the program not only advances technological innovation but also strengthens the European deep-tech ecosystem, paving the way for future breakthroughs in biopharmaceutical manufacturing. The blended finance approach ensures that companies can effectively scale and attract private sector investments, ultimately contributing to the growth of the European economy.
2 The Funding Rounds
Bio-Sourcing (Belgium) – EIC Accelerator Funding and Subsequent Financing Activity
Financing Raised
Since winning the EIC Accelerator in March 2024, Bio-Sourcing, a biotherapeutics company based in Liège, Belgium, has secured a total of €12.5 million in funding. This financing package is composed of:
- €2.5 million in grant funding
- €10 million in equity investment
The funds were provided by the European Innovation Council (EIC) Accelerator.
Funding Rounds: Timing and Amounts
Investor Information
- Primary Investor: The sole disclosed investor for this round is the European Innovation Council Fund (EIC Fund), which supplied both the grant and equity components.
- There are indications from financial reports that additional undisclosed investors may participate alongside or after this initial EIC-led round; however, no specific names have been reported to date.
Details Related to Funding Rounds
This latest financing represents both non-dilutive (grant) and dilutive (equity) capital provided under the framework of the prestigious EIC Accelerator program—an initiative designed to back high-potential deep tech startups within Europe.
Bio-Sourcing’s innovative platform leverages genetically engineered goats to produce complex therapeutic proteins—specifically monoclonal antibodies—in their milk at significantly reduced cost compared with traditional biomanufacturing methods.
The company will use its new capital for: - Advancing its lead biosimilar candidate: adalimumab (a Humira biosimilar)
- Scaling its facilities for increased production
- Building out an industrial-scale processing plant
Valuation Information
There has been no public disclosure regarding pre-money or post-money valuation figures associated with this funding round from official sources or recognized financial databases as of May 2025. No third-party estimates have been publicly released that would allow inference about current company valuation.
Exit Events: IPOs or Acquisitions
As of May 2025:
Sources
- Bio-Sourcing Secures €12.5M in Funding - FinSMEs
- Bio-Sourcing secures €12.5M from EIC Accelerator for biotherapeutic production - Tech.eu
- Bio-Sourcing – Funding & Investors | Parsers VC
- Healthcare Private Placement Review – Silverwood Partners
- Stocks - MLQ.ai | Bio-Sourcing Overview
3 The Press Releases
Bio-Sourcing’s EIC Accelerator Funding and Strategic AdvancementsBelgian biotherapeutic company Bio-Sourcing secured €12.5 million in blended financing from the European Innovation Council (EIC) Accelerator in 2024, comprising €2.5 million in grants and €10 million in equity. The funding will accelerate the development of its BioMilk™ platform, which produces monoclonal antibodies using genetically modified goats to express therapeutic proteins in their milk. This method reduces production costs by fivefold compared to traditional bioreactor systems and significantly lowers environmental impact.
Key Developments Post-Funding:
- Clinical Pipeline: The company plans to initiate clinical trials for its first biosimilar, adalimumab (Humira), a blockbuster autoimmune treatment, by 2027. Subsequent biosimilars targeting trastuzumab and golimumab are also in development.
- Facility Expansion: Funds will support scaling up goat facilities and constructing an industrial milk processing plant to meet production demands.
- Strategic Positioning: Bio-Sourcing aims to bolster Europe’s biopharmaceutical sovereignty, addressing supply chain vulnerabilities highlighted during global health crises.
The company emphasizes sustainability through its proprietary platform, leveraging genome editing and nuclear transfer technologies to optimize protein yields while minimizing resource use. No partnerships or patent updates were explicitly mentioned in available materials.
No press releases or blog posts from Bio-Sourcing’s website (bio-sourcing.com) were accessible via the provided sources. Social media accounts were not referenced.
Sources
- Bio-Sourcing secures €12.5M from EIC Accelerator
- BusinessWire announcement on EIC funding
- FinSMEs funding report
4 The Technology Advancements
Bio-Sourcing from Belgium: Current Capabilities and Advancements
Bio-Sourcing, a Belgian biotherapeutic company based in Liège, has made significant strides in the biopharmaceutical industry. The company specializes in producing biotherapeutics, particularly monoclonal antibodies, using its innovative BioMilk platform. This platform leverages the natural ability of goats to produce complex proteins in their milk, offering a method that is five times more cost-effective than traditional approaches and reduces the environmental footprint of production.
EIC Accelerator Funding
In September 2024, Bio-Sourcing secured €12.5 million from the European Innovation Council (EIC) Accelerator, consisting of €2.5 million in grants and €10 million in equity. This funding was crucial for advancing the company's mission to make biotherapeutics more affordable and available. It enabled Bio-Sourcing to plan the clinical trials for its first biosimilar, adalimumab (Humira), by 2027.
Technological Improvements and New Features
Since receiving the EIC funding, Bio-Sourcing has focused on expanding its facilities, including scaling up its goat facility and building an industrial milk processing plant. This expansion supports the company's goal to increase production capacity and meet growing demand for biosimilars. The BioMilk platform remains at the core of Bio-Sourcing's technology, offering a sustainable and cost-effective method for biotherapeutic production.
Market Demonstration and Clinical Trials
Bio-Sourcing is set to bring its first biosimilar, adalimumab, to clinical trials by 2027. This marks a significant step in demonstrating the company's technology with potential customers and partners. While there are no reports of new patents, scientific studies, or whitepapers published since the funding, the company's focus on advancing its clinical trials and expanding operations highlights its commitment to bringing affordable biotherapeutics to the market.
Conclusion
Bio-Sourcing has made notable advancements since receiving the EIC Accelerator funding. The company's BioMilk platform remains a game-changer in the biopharmaceutical industry, and its efforts to scale operations and bring biosimilars to market position it as a leader in making biotherapeutics more accessible.
Sources
- Bio-Sourcing
- Bio-Sourcing Secures European Innovation Council (EIC) Accelerator Funding
- Bio-Sourcing Secures European Innovation Council (EIC) Accelerator Funding
- Bio-Sourcing secures €12.5M for sustainable biotherapeutic production from goat milk
- Bio-Sourcing secures €12.5M from EIC Accelerator for biotherapeutic production
- Bio-Sourcing Secures €12.5M in Funding
- Bio-Sourcing's Bold Leap: €12.5M to Transform Biotherapeutics
5 The Partnerships and Customers
Bio-Sourcing: Partnerships and Market Positioning
Bio-Sourcing, a Belgium-based biotherapeutics company, has been making significant strides in the biopharmaceutical sector. Since receiving the EIC Accelerator funding on March 13, 2024, the company has focused on enhancing its proprietary technological platform, BioMilk, which produces biotherapeutics such as monoclonal antibodies in the milk of specialized goats. This approach aims to make biotherapeutics more available, affordable, and sustainable for everyone.
Partnerships and Customers
As of the latest information, specific names of new partners or customers associated with Bio-Sourcing are not detailed in the available sources. However, the company's business model involves co-development and co-ownership of results, which suggests collaborative partnerships with other entities in the biotech industry.
###New Partnerships and Relationships
There is no recent information on new partnerships or customers specifically named. However, Bio-Sourcing's emphasis on co-development suggests ongoing collaborations with industry players and governments to address global unmet medical needs.
Market Positioning
The new relationships and partnerships, if established, would likely position Bio-Sourcing as a leader in innovative biopharmaceutical production. By leveraging its unique technology, the company aims to increase access to life-saving medicines, particularly in regions with limited production capabilities.
Technology Advancements and Scaling
Bio-Sourcing's innovative use of CRISPR-Cas9 and nuclear transfer technologies allows for more efficient and cost-effective production of biotherapeutics. These advancements will help the company scale its operations, reduce production costs, and enhance the adaptability of its production methods. This could attract additional investments and partnerships, further supporting its growth and technological advancements.
Conclusion
While specific new partnerships or customers are not detailed, Bio-Sourcing's focus on collaborative development and innovative technology positions it well for future growth and market impact. The company's commitment to sustainability and accessibility in biopharmaceuticals aligns with global health goals and could attract significant interest from both investors and potential partners.
Sources: - Biosourcing • Biotherapeutics more available for everybody
6 The Hiring and Company Growth
Bio-Sourcing: A Belgian Biotherapeutic Company on the Rise
Bio-Sourcing, based in Liège, Belgium, is a pioneering biotechnology company that has gained significant attention for its innovative approach to biotherapeutic production. Their unique method utilizes goat milk to produce biotherapeutics, offering a sustainable and cost-effective solution.
Current Team Size and Hiring Status
As of the latest available information, Bio-Sourcing has a team size of 11.4 full-time equivalent (FTE) employees, indicating a medium-sized company focused on research and experimental development in biotechnology. However, it is mentioned that the company is composed of "15 scientists" in another context, which may reflect a recent or potential increase in staffing. There is no explicit information on whether they are currently hiring, but their recent funding success could suggest potential growth opportunities.
Growth and Funding
Bio-Sourcing secured €12.5 million in funding in 2024, comprising €2.5 million in grants and €10 million in equity from the European Innovation Council (EIC). This significant investment is expected to support their mission to make biotherapeutics more available and affordable, bridging the biomanufacturing gap.
Key Positions and Recent Hires
While specific details about recent hires are not available, the company boasts a strong leadership team, including Bertrand Mérot as the Founder & CEO and Pr. Kaio Tavares as the Research Director. Their expertise in genetic engineering and biotechnology drives the company's innovative approach.
Impact of New Team Members
New team members would likely enhance Bio-Sourcing's capabilities in developing sustainable biotherapeutics, contributing to increased scalability and efficiency. The company's focus on reducing production costs and improving product quality will be key to its future growth and competitiveness in the biotechnology sector.
Management and Founding Team Changes
There are no reported changes in the management or founding team of Bio-Sourcing since their EIC funding win.
Future Prospects
The recent funding and strategic approach position Bio-Sourcing for significant growth. Their emphasis on sustainable practices and cost-effective production methods aligns with global trends in the biotechnology industry, suggesting a promising future for the company.
Sources:
- Biosourcing • Biotherapeutics more available for everybody
- Bio-Sourcing (SA) - Liège (4000) - BE0554840790 - Companyweb
- Bio-Sourcing secures €12.5M for sustainable biotherapeutic production from goat milk
- Bio-Sourcing Secures European Innovation Council (EIC) Accelerator Funding to Bridge the Biomanufacturing Gap and Make Biotherapeutics More Available and Affordable
- Bio-Sourcing SA - BioWin
7 The Media Features and Publications
Bio-Sourcing: A Belgian Biotechnology Company
Overview
Bio-Sourcing is a Belgian biotechnology company based in Liège, Belgium. It was established on June 24, 2014, and operates as a medium-sized enterprise with a focus on research and experimental development in biotechnology. The company has developed a unique platform for producing biotherapeutics, particularly monoclonal antibodies, using CRISPR technology and nuclear transfer techniques. This approach involves expressing proteins of interest in the milk of specialized goats, offering a more sustainable and cost-effective alternative to traditional biopharmaceutical production methods.
EIC Accelerator Funding
In March 2024, Bio-Sourcing was awarded significant funding from the European Innovation Council (EIC) Accelerator program. This funding includes €2.5 million in grants and €10 million in equity, totaling €12.5 million. This financial backing supports the company's mission to make biotherapeutics more accessible and affordable globally.
Media Features and Publications
While specific media features or publications mentioning Bio-Sourcing are limited in the available data, the company's innovative approach to biopharmaceutical production has likely garnered attention in biotechnology and healthcare sectors. News and publications related to biotech innovations and funding announcements may cover Bio-Sourcing's achievements and impact on the industry.
Podcasts and Interviews
Currently, there is no information available on specific podcasts or interviews involving the Bio-Sourcing team. However, their participation in such media could enhance their visibility and share their groundbreaking work with a broader audience.
Conferences and Events
Bio-Sourcing's involvement in conferences and events related to biotechnology and biopharmaceuticals could provide valuable opportunities for networking, collaboration, and showcasing their technology. Although specific details about their conference participation are not readily available, events like BioNJ's BioPartnering Conference and similar biotech gatherings could be relevant platforms for the company.
Involvement in Events
The company's focus on sustainable biopharmaceutical production aligns with global efforts to address unmet medical needs. Their participation in industry events would likely highlight their contributions to making biotherapeutics more accessible and affordable worldwide.
Sources
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