1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative startups and small-to-medium enterprises (SMEs) in scaling their businesses and bringing breakthrough technologies to market. With a focus on deep tech innovations, the program provides blended finance solutions that include grants and equity investments, enabling companies not only to develop their projects but also to attract additional funding from private investors.

Funding Structure

The EIC Accelerator offers financial support through a blended finance model. This comprises a grant component that can reach up to €2.5 million, aimed at covering early-stage development costs such as research, development, and prototyping. This grant is particularly crucial for companies in the pre-revenue phase, allowing them to de-risk their innovations and prepare for market entry.

In addition to the grant, the EIC Accelerator provides equity funding, which has seen significant adjustments over the years. Until 2024, companies can receive equity investments of up to €15 million, while from 2025 onwards, this cap is reduced to €10 million. This equity investment is essential for helping businesses secure the necessary capital to scale operations, expand their market presence, and enhance their capabilities.

Purpose in the Ecosystem

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by addressing the critical funding gap faced by innovative companies. It aims to support projects that have significant societal and economic impact, particularly in areas such as healthcare, renewable energy, and advanced manufacturing. By providing both financial resources and access to a network of investors, the program facilitates collaboration and helps startups navigate the complexities of scaling their technologies.

Moreover, the EIC Accelerator fosters an environment conducive to innovation by reducing the time and resources needed for companies to secure funding from traditional sources. This program not only empowers startups but also contributes to Europe’s competitive edge in global markets by nurturing cutting-edge technologies.

Celeris Therapeutics GmbH and CelerisTx

Celeris Therapeutics GmbH, based in Austria, is a notable winner of the EIC Accelerator, securing funding for their project known as CelerisTx, specifically the Celeris One Platform. This initiative focuses on closed-loop deep learning in early-stage drug discovery, aiming to revolutionize how targeted protein degradation therapies are developed.

Technology Overview

CelerisTx leverages advanced machine learning algorithms to enhance drug discovery processes, particularly in the realm of targeted protein degradation. This innovative approach involves the design and development of molecules that can selectively degrade specific proteins implicated in diseases, thereby offering a powerful therapeutic strategy, especially for conditions such as cancer and neurodegenerative disorders.

The Celeris One Platform utilizes cloud-based infrastructure to enable real-time data analysis and model training, which are critical for optimizing drug candidates. By integrating vast datasets and employing sophisticated deep learning techniques, CelerisTx can effectively identify potential drug candidates and predict their efficacy and safety profiles before they enter clinical trials. This closed-loop system not only accelerates the drug development timeline but also minimizes costs associated with traditional discovery methods.

The significance of this technology lies in its potential to expedite the identification of viable drug candidates, ultimately leading to more effective treatments for patients. By focusing on targeted protein degradation, CelerisTx aims to address unmet medical needs and offer innovative solutions in drug development.

Celeris Therapeutics’ project exemplifies the transformative potential of the EIC Accelerator, demonstrating how targeted funding and support can catalyze technological advancements in the pharmaceutical industry. The successful integration of AI in drug discovery through the Celeris One Platform positions the company at the forefront of next-generation therapeutic development, paving the way for innovative treatments that could significantly improve patient outcomes.

2 The Funding Rounds

Financing Raised

Since receiving the EIC Accelerator funding in June 2022, Celeris Therapeutics GmbH has significantly increased its financing through multiple rounds and public grants. As of October 2022, the company had raised a total of approximately $18.09 million over six funding rounds. This includes both equity investments and non-dilutive grants.

Funding Rounds: Timing and Amounts

A detailed timeline of major funding events since mid-2022 is as follows:

• February 10, 2022: Closed a Series Seed round totaling $4.4 million USD with participation from Pace Ventures Enigma, i&i Biotech Fund, Apex Ventures, R42 Group (Silicon Valley), and Longevitytech.fund a.s.
• June 2022: Secured €2.5 million (~$2.6 million) grant via the European Innovation Council (EIC) Accelerator program as part of blended finance support.
• October 20, 2022: Completed a Series A round totaling $10 million USD.
• Additional smaller rounds or grant tranches were also completed between March 2021 and May 2021 prior to this period.

Total Funding Breakdown

Date	Round	Amount
February 10, 2022	Seed VC	$4.4M
June/Oct. 2022	EIC Grant	€2.5M ($~2.6M)
October 20, 2022	Series A	$10M

Cumulatively since inception (including earlier public grants), Celeris Therapeutics has raised over $18M by late October/November of that year.

Investor Information

Key investors participating in these rounds include: - Pace Ventures Enigma (Berlin)

• i&i Biotech Fund (Luxembourg)
• Apex Ventures (Austria)
• R42 Group (Silicon Valley)
• Longevitytech.fund a.s.

The EIC Fund also plays an important role through its equity component under blended finance terms in connection with the EIC Accelerator award.

Company Valuations

Dealroom.co estimated Celeris Therapeutics’ enterprise valuation at between $17–25 million as of February 2022—shortly before their successful Series A round later that year. No updated post-money valuation figures for subsequent rounds are publicly available; however, it is likely valuations increased following their substantial equity raise in late October.

Exit Events: IPOs or Acquisitions

As of May 1st, 2025:

• There have been no reported exit events for Celeris Therapeutics GmbH.
• The company remains private with no record of an IPO or acquisition to date across all monitored financial databases and press coverage.

---

Sources

Celeris Therapeutics–EU Govt Grant Announcement Munich Startup – CelerisTx profile Biospace – Seed Financing Press Release CB Insights – Company Financials Dealroom.co – Company Profile Vindobona.org – Austrian Startups Receive EU Innovation Funding

3 The Press Releases

Celeris Therapeutics GmbH: Post-EIC Accelerator Funding Developments Celeris Therapeutics GmbH, an Austrian biotech company based in Graz, secured EIC Accelerator funding in June 2022 to advance its AI-driven drug discovery platform. The company focuses on developing proximity-inducing compounds (PICs™) for neurodegenerative diseases (e.g., Alzheimer’s, Parkinson’s) and oncology using closed-loop deep learning to predict protein interactions and design degraders targeting previously undruggable proteins.

Key Updates from Press Releases and Public Disclosures

• Seed Financing Round: In February 2022, Celeris closed a $4.4 million Series Seed round co-led by Pace Ventures Enigma (Berlin), i&i Biotech Fund (Luxembourg), and Apex Ventures (Austria). The funds supported lab expansion in Graz and accelerated three internal drug programs.
• Partnerships: The company collaborates with pharmaceutical firms like Merck KGaA and Boehringer Ingelheim. EU funding aims to strengthen these partnerships while advancing its proprietary pipeline.
• Team Expansion: In November 2021, Celeris appointed Nick DeHaan as VP of Partnering to drive U.S.-focused business development. DeHaan previously led collaborations at Atomwise.
• Technology: Its proprietary platform, Celeris One, integrates machine learning for designing degraders that exploit cellular protein-disposal mechanisms. The EIC funding supports scaling this platform globally.

While no recent press releases from late 2023–2025 are available in the provided data, earlier updates highlight a focus on R&D expansion and strategic alliances post-EIC award. Publicly listed social media accounts or newer website content could not be verified through the sources provided.

---

Sources

• EIC Accelerator June 2022 Statistics
• CelerisTx $4.4M Seed Financing Announcement
• Austrian EIC Winners Overview

4 The Technology Advancements

Celeris Therapeutics GmbH: Post-2022 EIC Accelerator Funding Advancements

Celeris Therapeutics GmbH, a US-Austrian biotech firm specializing in AI-driven targeted protein degradation, has demonstrated significant progress since mid-2022. While no direct mention of EIC Accelerator funding appears in available records up to February 2025, the company’s trajectory post-2022 highlights key advancements in technology, partnerships, and operations:

Core Capabilities and Technology

The company’s proprietary Celeris One™ platform employs graph representation learning and closed-loop AI workflows to design degraders against undruggable targets linked to Alzheimer’s, Parkinson’s, and oncology. Their approach integrates in silico prediction of biomolecular interactions with wet-lab validation, enabling end-to-end drug discovery from molecule generation to preclinical development.

Post-2022 Developments

• Partnered with Boehringer Ingelheim (April 2022) to develop next-generation degraders using Celeris One™ for undisclosed targets.
• Announced a collaboration with Merck KGaA (February 2022) in the degrader field alongside hiring two VP-level biotech veterans.

Market Validation & Pipeline Status

• The Boehringer collaboration validates CelerisTx’s platform for large-scale pharma partnerships, though no clinical trials or IND filings are publicly disclosed as of early 2025.
• The company emphasizes preclinical development capabilities but has not published timelines for human trials or peer-reviewed studies on specific candidates beyond general pipeline references covering neurodegeneration and oncology.

Intellectual Property & Publications

No new patents or whitepapers are explicitly cited since mid-2022; however, their proprietary platform methodology likely incorporates ongoing IP developments tied to graph-based AI models for protein interaction prediction.

---

Sources

Celeris Builds Laboratories · Appoints Nick DeHaan · Longevity Tech Fund Investment · $4.4M Financing Round · Company Profile · Boehringer Collaboration

5 The Partnerships and Customers

Celeris Therapeutics GmbH: Recent Developments and Partnerships

Celeris Therapeutics GmbH, based in Austria, received significant recognition and funding in 2022, including €12.5 million from the European Innovation Council (EIC) Accelerator. This substantial investment has been pivotal for the company's growth and innovation in AI-driven drug discovery.

Partnerships and Collaborations

Celeris Therapeutics has established notable partnerships with major pharmaceutical companies:

• Boehringer Ingelheim: Celeris Therapeutics entered into a collaboration with Boehringer Ingelheim to develop next-generation targeted protein degraders. This partnership leverages Celeris' AI-driven platform to generate novel compounds that can degrade pathogenic proteins.
• Merck KGaA: The company announced a research collaboration with Merck KGaA, using its AI platform for the discovery of novel small molecule binders and bifunctional degraders. This collaboration aims to accelerate the discovery of new treatment options.

New Partners and Customers

As of the latest information, Celeris Therapeutics has not announced new partners or customers beyond these significant collaborations. However, the company continues to engage with various investors and pharmaceutical companies to advance its drug pipeline.

Nature of New Relationships

The partnerships with Boehringer Ingelheim and Merck KGaA reflect Celeris Therapeutics' strategic focus on utilizing AI in drug discovery to tackle unmet medical needs. These collaborations are designed to accelerate the development of innovative treatments, particularly in areas such as oncology and neurology.

Market Positioning and Technology Advancements

The relationships with major pharmaceutical companies position Celeris Therapeutics as a leader in AI-driven drug discovery. The collaborations will help the company scale its technology and accelerate the development of novel therapeutics, leveraging AI to streamline drug discovery processes. The funding from the EIC Accelerator further enhances its ability to expand its research and innovation capabilities, solidifying its market presence in the biotech sector.

Scaling and Growth

The investment and partnerships are crucial for Celeris Therapeutics' growth, enabling it to build a laboratory site in Graz, Austria, and advance its AI-driven Celeris One platform. This expansion supports the company's goal to become a leading player in developing treatments for incurable diseases.

Sources

• AI-driven drug discovery (2023)
• Celeris Reels in Another Big Partner in Boehringer Ingelheim
• Life-Sciences-Germany.com
• Celeris Therapeutics Welcomes Ian Marks as a Non-Executive Director
• CelerisTx Announces $4.4M Financing
• CelerisTx in AI Research Collaboration with Merck KGaA
• Celeris Therapeutics to Receive €12.5 Million in Funding

6 The Hiring and Company Growth

Celeris Therapeutics GmbH: Team Growth and Development

Celeris Therapeutics GmbH, an AI-driven drug discovery company based in Austria, has been making significant strides in the field of targeted protein degradation since winning the EIC Accelerator funding in June 2022. Here's an overview of their team growth, hiring, and recent developments:

Current Headcount and Team Size

The current headcount of Celeris Therapeutics is not explicitly stated, but the company has been expanding its team with key appointments in various roles.

Hiring and Recent Positions

Celeris Therapeutics has recently appointed several experienced professionals to lead its drug discovery and biology efforts. Notable hires include:

• Dr. Friedrich Kroll as Vice President of Drug Discovery.
• Dr. Markus Muellner as Vice President of Biology.
• Ian Marks joined as a Non-Executive Director, bringing extensive experience from the pharmaceutical industry, having worked at Salesforce, GSK, and Novartis.

Team Growth and Scaling

These appointments reflect the company's ambition to accelerate its drug pipeline and platform development. The addition of experienced leaders is crucial for scaling and growing the business, particularly in advancing the Celeris One platform for AI-driven drug discovery.

Future Impact and Scaling

The new team members are expected to contribute significantly to Celeris Therapeutics' progress in drug development and platform implementation. Their expertise will help the company transition its innovations into clinical applications more rapidly, addressing unmet medical needs in neurodegenerative diseases and oncology.

Major Changes in Management or Founding Team

There are no reported changes in the founding team. However, the company has been strategic in appointing external experts to strengthen its leadership and advisory board, such as Peter Ho, M.D., Ph.D., who joined the Board of Directors.

Current Hiring Status

While specific job openings are not detailed in recent reports, the company's expansion and strategic appointments suggest ongoing growth and potential for future hiring opportunities.

Growth Since EIC Accelerator Funding

Since receiving the EIC Accelerator funding in June 2022, Celeris Therapeutics has focused on advancing its AI-driven platform and drug pipeline. The funding has likely supported the company's strategic hirings and efforts to accelerate drug development processes.

---

Sources:

• Celeris Therapeutics GmbH
• CelerisTx: Drug Discovery for Incurable Diseases with ML on AWS
• Celeris Therapeutics Announces the Appointment of Biotech Veterans
• Celeris Therapeutics Welcomes Ian Marks as a Non-Executive Director

7 The Media Features and Publications

Media Features and Public Engagement of Celeris Therapeutics GmbH Celeris Therapeutics GmbH, a Graz-based biotech firm specializing in AI-driven drug discovery for proximity-inducing compounds (PICs™), has garnered significant media attention following its June 2022 EIC Accelerator win. The company’s advancements in targeted protein degraders and collaborations with industry leaders have been widely documented.

---

Publications and Press Coverage

• EIC Accelerator Announcements: Multiple press releases detail CelerisTx’s €12.5 million EIC funding, $4.4 million seed financing, and partnerships with Merck KGaA and Boehringer Ingelheim.
• Biospace: Covered the February 2022 financing round, emphasizing its role in advancing neurology and oncology pipelines.
• Local Austrian Media: Der Brutkasten highlighted early-stage funding (€600,000) to target neurodegenerative diseases like Parkinson’s.

---

Podcasts and Interviews

Apple Podcasts Feature: Noah Weber, CTO, discussed MLOps practices and Bayesian optimization for degrader molecule design on the Startup Guide Podcast (November 2021).

---

Conference Participation (No direct evidence found)

While no specific conferences or fairs are cited in available materials, the company actively collaborates with pharmaceutical giants—indicating potential participation in industry events to showcase its PIC™ platform.

---

Event Involvement

CelerisTx expanded its Graz laboratory facilities in 2021–2022 using seed funds, likely hosting site-specific events. However, public event details remain undocumented.

---

Sources

• EIC Accelerator Winners List (June 2022)
• $4.4M Seed Financing Announcement
• Merck KGaA Collaboration (partial URL; see result for context)