1 The EIC Accelerator Project
EIC Accelerator Program Overview
The EIC Accelerator program is a key initiative under the European Innovation Council (EIC), designed to support small and medium-sized enterprises (SMEs) and startups in Europe that are developing innovative technologies and solutions. This program primarily targets DeepTech ventures, which encompass advanced technologies in sectors such as biotechnology, artificial intelligence, green tech, and more. It aims to bridge the funding gap that often hinders the growth of high-risk, high-potential startups by providing financial support and business acceleration services.
Funding Structure
The EIC Accelerator offers a blended finance model, which combines grants and equity investments. The grant component can reach up to €2.5 million, providing companies with non-dilutive funding to cover costs associated with R&D, prototyping, and initial market deployment. This financial support is crucial for early-stage companies that require significant investment in technology development before generating revenue.
In addition to grants, the EIC Accelerator also offers equity investments, which can amount to €15 million until 2024 and €10 million thereafter. This equity funding helps startups scale their operations and market presence while facilitating access to private sector investments. The dual funding structure of grants and equity investments allows companies to maintain a balance between securing necessary funds and minimizing dilution of ownership.
Purpose and Role in the Ecosystem
The primary purpose of the EIC Accelerator is to foster innovation and enhance the competitiveness of European startups and SMEs in the global market. By providing financial and strategic support, the program helps companies navigate the complex landscape of product development, regulatory pathways, and market entry. The EIC Accelerator's involvement significantly increases a company’s visibility to investors, thereby facilitating access to additional funding sources. This not only strengthens the company’s financial position but also contributes to job creation and economic growth within the European region.
Case Study: ARTHEX BIOTECH S.L. and Project FIGHT-DM1
Company Overview
ARTHEX BIOTECH S.L., based in Spain, is a cutting-edge biotechnology firm dedicated to developing innovative therapies for rare diseases. The company focuses on advancing therapeutic solutions that address unmet medical needs, particularly in genetic disorders.
Project FIGHT-DM1
The project acronym "FIGHT-DM1" represents ARTHEX’s initiative to create the first-in-class oligonucleotide therapy for Myotonic Dystrophy type 1 (DM1), a debilitating genetic condition characterized by progressive muscular weakness and wasting. The project aims to leverage advanced oligonucleotide technology to target and modulate the underlying genetic defects associated with DM1, thereby offering a novel treatment approach.
Technology Background
Myotonic Dystrophy type 1 is caused by the expansion of CTG repeats in the DMPK gene, leading to the production of toxic RNA that disrupts cellular functions. Current treatment options are limited, making the development of effective therapies essential for improving the quality of life for patients.
The oligonucleotide therapy being developed in the FIGHT-DM1 project focuses on RNA interference (RNAi) mechanisms. This technology involves the design of small, synthetic RNA molecules that can specifically bind to the toxic RNA produced by the faulty DMPK gene. By targeting the harmful RNA, the therapy aims to reduce its accumulation and mitigate its deleterious effects on muscle and other tissues.
Project Goals and Impact
The primary goals of the FIGHT-DM1 project include demonstrating the safety and efficacy of the oligonucleotide therapy in preclinical models, advancing towards clinical trials, and ultimately offering a transformative treatment option for individuals suffering from DM1. The potential impact of this project extends beyond individual patient outcomes; it contributes to the broader field of genetic therapies, setting a precedent for future innovations in treating rare genetic disorders.
Conclusion
The EIC Accelerator program represents a vital resource for innovative startups like ARTHEX BIOTECH S.L., enabling them to pursue groundbreaking projects such as FIGHT-DM1. Through its blended finance approach, the program not only provides necessary funding but also amplifies the visibility and credibility of companies within the investment community. As the European DeepTech ecosystem continues to evolve, initiatives like the EIC Accelerator play an instrumental role in driving forward the next generation of innovative solutions to some of the most pressing health challenges.
2 The Funding Rounds
Financing Raised and Funding Rounds
Since ARTHEX BIOTECH S.L. submitted its successful EIC Accelerator application in June 2022, the company has completed multiple significant funding rounds:
- Seed & Pre-Series A Funding (2019–2020):
- In December 2019 and June 2020, ARTHEX Biotech raised an initial seed round of €2.7 million ($3.1M) from Invivo Ventures and CDTI-Innvierte.
- In July 2020, the company closed a subsequent round of €4.25 million ($4.9M) led by Advent France Biotechnology (AFB) and Invivo Ventures.
- By mid-2020, total funds raised since inception were approximately €6.95 million ($8M).
- EIC Accelerator Grant (Post-June 2022):
- After being fast-tracked by EIT Health support, ARTHEX Biotech was awarded an EIC Accelerator grant of €2.5 million.
- Series B Round (May 2023):
- On May 3rd, 2023, ARTHEX Biotech announced the closing of a Series B financing round totaling €42 million.
- This round was led by Columbus Venture Partners.
- Other new investors included Hadean Ventures, Sound Bioventures, and the European Innovation Council Fund/EIC Fund.
- Existing investors—Invivo Capital, AdBio Partners (formerly Advent France Biotechnology), and CDTI through its Innvierte program—also participated.
Timing and Amounts
| Date | Funding Round | Amount | Lead/Key Investors |
|---|---|---|---|
| Dec '19 & Jun '20 | Seed | €2.7M | Invivo Ventures & CDTI-Innvierte |
| Jul '20 | Pre-Series A | €4.25M | Advent France Biotechnology (AdBio Partners), Invivo Ventures |
| Post-June '22 | EIC Grant | €2.5M | European Innovation Council |
| May '23 | Series B | €42M | Columbus Venture Partners; Hadean Ventures; Sound Bioventures; EIC Fund |
Total publicized funding as of early/mid-2023 is approximately $50–51 million (€47+ million).
Investor Information
Major investors in ARTHEX BIOTECH S.L., particularly since receiving EIC Accelerator support in June 2022:
- Columbus Venture Partners
- Hadean Ventures
- Sound Bioventures
- European Innovation Council Fund / EIC Fund
- Invivo Capital
- AdBio Partners (formerly Advent France Biotechnology)
- Centre for the Development of Industrial Technology (CDTI), via Innvierte program
These investors represent leading venture capital firms in Europe’s biotech sector alongside institutional innovation funds.
Company Valuations
No explicit public valuation figures have been disclosed for ARTHEX BIOTECH S.L., but based on typical biotech industry standards for Series B rounds raising over $40 million with such a syndicate profile—and total capital raised exceeding $50m—the implied post-money valuation would likely be several multiples higher than this amount. However, no concrete number has been published.
Exit Events: IPOs or Acquisitions
As of April 30th, 2025:
Shares have not yet been offered to the public market nor has there been any buyout event reported.
Summary Table
| Item | Details |
|---|---|
| Total Disclosed Funding | ~$51m (€47m+) between seed/pre-Series A/EIC grant/Series B |
| Largest Single Round | May ‘23: Series B – €42m |
| Key Investors | Columbus Venture Partners; Hadean Ventures; Sound Bioventures; EIC Fund; AdBio/Invivo/CDTI |
| Most Recent Public Event | Series B closing – May ‘23 |
| Company Valuation | Not publicly disclosed |
| Exit Events | None as of reporting date |
Sources
ARTHEx Biotech Announces Closing of €42 M Series B Financing Arthex secures €4.25M from Invivo Ventures and Advent France Biotechnology Arthex Biotech company information on Dealroom Arthex Biotech Company Information on Seedtable Arthex Biotech closes EUR 42 M Series B financing round —EIT Health news About Arthex – Official website investor list Invest In Arthex Stock via EquityZen Marketplace
3 The Press Releases
Overview of Arthex Biotech
Arthex Biotech, a clinical-stage biotechnology company based in Valencia, Spain, has been at the forefront of developing innovative medicines through microRNA modulation since receiving the EIC Accelerator funding in June 2022. The company is focused on treating debilitating diseases, with a special emphasis on myotonic dystrophy type 1 (DM1), a rare neuromuscular disorder.
Key Developments
- EIC Accelerator Funding: Arthex Biotech successfully secured funding from the European Innovation Council (EIC) Accelerator program, which has supported the advancement of its lead compound, ATX-01, for the treatment of DM1.
- ATX-01 and DM1 Treatment: ATX-01 is the company's lead investigational compound, currently in the Phase I-IIa ArthemiR™ trial for treating DM1. This compound targets microRNA 23b (miR-23b), which is associated with regulating the muscleblind-like protein (MBNL) expression involved in DM1. ATX-01 has received orphan drug designation from both the US and European authorities, highlighting its potential as a novel therapeutic agent for this orphan disease.
- Series B Financing: In May 2023, Arthex Biotech closed a €42 million Series B financing round, led by Columbus Venture Partners, along with participation from new investors such as Sound Bioventures, Hadean Ventures, and the European Innovation Council (EIC) fund. This funding has been critical for advancing ATX-01 into clinical trials and further developing the company's microRNA modulation technology.
- Partnerships and Collaborations: Arthex Biotech's investor syndicate includes prominent venture capital firms and innovation bodies, reflecting its strong network and support in advancing its pipeline.
- Research and Publication: The company has published promising preclinical research on the therapeutic efficacy of AntimiRs in treating DM1, showcasing its commitment to scientific innovation.
- Regulatory Milestones: In November 2024, ATX-01 received the FDA Rare Pediatric Designation (RPD) for treating DM1, emphasizing its potential for addressing unmet medical needs in pediatric patients.
- Conference Participation: Arthex Biotech has actively participated in significant conferences, including the Oligonucleotide & Peptide Therapeutics (TIDES) Conference and the Needham Virtual Healthcare Conference, highlighting its engagement with the scientific and investment communities.
Team and Leadership
The company is led by Frédéric Legros, who serves as both Executive Chairman and CEO, alongside Beatriz Llamusí, the Chief Scientific Officer and co-founder. The leadership team is committed to expanding the company's pipeline and advancing microRNA modulation technology for various diseases.
Conclusion
Since receiving the EIC Accelerator funding, Arthex Biotech has made significant strides in advancing its lead compound, ATX-01, and expanding its operations. The company's focus on microRNA modulation holds promise for treating rare diseases like DM1 and underscores its position as a pioneering force in gene expression therapies.
- ARTHEx Biotech Announces Oral Presentation on ATX-01 at the Oligonucleotide & Peptide Therapeutics (TIDES) Conference 2024
- News & Events - Arthex Biotech
- ARTHEx Biotech Announces FDA Rare Pediatric Designation (RPD) of ATX-01 for the Treatment of Myotonic Dystrophy Type 1 (DM1)
- ARTHEx Biotech Announces Closing of €42 M Series B Financing to Advance ATX-01
- ARTHEx Biotech Raises Funds to Advance DM1 Therapy to Clinical Trial
- ARTHEx Biotech to Participate in the 24th Annual Needham Virtual Healthcare Conference
- ARTHEx Biotech Obtains €42 Million to Advance Treatment of Myotonic Dystrophy
4 The Technology Advancements
ARTHEx Biotech S.L.: Post-EIC Accelerator Funding Advancements and Capabilities Based in Valencia, Spain, ARTHEx Biotech S.L. is a clinical-stage biotechnology company specializing in microRNA modulation therapies for genetically driven diseases. Since receiving the EIC Accelerator Award (announced October 2022) with up to €14 million in funding, the company has achieved significant milestones in clinical development, preclinical research, and technological innovation.Current Capabilities
ARTHEx operates a proprietary discovery engine focused on identifying microRNA modulators with tissue-specific delivery capabilities. Its lead candidate ATX-01, an antimiR targeting miR-23b, addresses myotonic dystrophy type 1 (DM1) through a dual mechanism: reducing toxic DMPK RNA aggregates and restoring MBNL protein levels. The platform enables rapid optimization of nucleic acid-based therapies for rare diseases with high unmet need.Post-EIC Accelerator Progress
Clinical Advancements:- Phase I-IIa ArthemiR™ Trial Initiation: In October 2024, ARTHEx dosed its first patient in this trial evaluating ATX-01’s safety and efficacy in DM1 patients. The trial is co-funded by the EIC Accelerator under Grant Agreement Nº 190181217.
- Regulatory Milestones: ATX-01 holds Orphan Drug Designation from both the FDA and EMA since late 2022, expediting its development pathway.
Scientific & Technological Developments:
- Preclinical Validation: Recent publications (as of November 2024) highlight ATX-01’s efficacy in human DM1 cell lines and mouse models, demonstrating reversal of molecular defects associated with DM1 pathogenesis.
- Discovery Engine Enhancements: The company continues refining its microRNA modulator platform to improve tissue targeting—critical for expanding applications beyond neuromuscular disorders.
Market Readiness & Partnerships:
While not yet commercially available, ATX-01 has progressed to human trials faster than anticipated due to EIC funding support. No new patents were explicitly mentioned post-EIC award; however, ongoing preclinical work suggests potential intellectual property expansion related to delivery technologies or novel microRNA targets.
Sources
5 The Partnerships and Customers
ARTHEx Biotech S.L. Strategic Partnerships and Collaborations ARTHEx Biotech S.L., a clinical-stage biotech company specializing in microRNA-modulating therapies, has established key partnerships to advance its lead candidate ATX-01 for Myotonic Dystrophy Type 1 (DM1) and expand its oligonucleotide therapeutics platform. While specific customer relationships remain undisclosed, the company’s collaborative efforts focus on research consortia, institutional stakeholders, and investors:- Collaborative Consortia: ARTHEx participates in the OLIGOFASTX project, a multi-entity initiative to develop sustainable oligonucleotide-based therapies for rare diseases. Partners include Sylentis, AptaTargets, Nostrum Biodiscovery, Nanovex Biotechnologies, and others. This partnership facilitates shared expertise in drug development, delivery technologies, and regulatory strategy.
- Institutional Support: The biomedical research center IIS La Fe co-organized the Spanish Meeting on Oligonucleotide Therapeutics (SMOT III) with ARTHEx, underscoring academic-industry collaboration to accelerate therapeutic innovation.
- Investor Backing: The €42M Series B financing round led by Columbus Venture Partners strengthens ARTHEx’s capacity to transition ATX-01 into clinical trials (Phase I/IIa started in late 2023) while expanding its pipeline of antimiR candidates.
Market Positioning and Technological Impact
These relationships enhance ARTHEx’s role as a pioneer in RNA therapeutics by:
Sources
+ OLIGOFASTX Project Details + SMOT III Collaboration (Note: URL contains formatting issues; substitute with corrected link if available)6 The Hiring and Company Growth
Overview of Arthex Biotech S.L.
Arthex Biotech S.L. is a clinical-stage biotechnology company based in Valencia, Spain, focused on developing innovative medicines through the modulation of microRNAs. The company has been actively advancing its pipeline, particularly with its lead investigational compound, ATX-01, aimed at treating myotonic dystrophy type 1 (DM1), a rare progressive muscle wasting disease.
Current Team Size and Headcount
As of the latest available information, the specific current headcount or team size of Arthex Biotech is not disclosed. However, the company has a well-defined management team and board of directors, indicating a structured organizational setup.
Hiring and Team Growth
While there is no specific information on whether Arthex Biotech is currently hiring, the company's recent funding rounds suggest an active phase of growth and development. This includes a significant €42 million Series B financing round closed in May 2023, which is expected to support clinical trials and further pipeline development.
Recent Funding and Growth
Arthex Biotech's €42 million Series B financing, led by Columbus Venture Partners and supported by new and existing investors including the European Innovation Council (EIC) fund, demonstrates significant growth and investment in the company's technology and pipeline. This funding is crucial for advancing ATX-01 into clinical development and expanding the company's discovery engine to target other genetically driven diseases.
Key Positions and Team Changes
The management team includes key figures such as Frédéric Legros as Executive Chairman and CEO, Beatriz Llamusí as Chief Scientific Officer and co-founder, Judith Walker as Chief Medical Officer, and Pedro Fernández as Director of Operations. There is no recent information on major changes in the founding team or management since receiving the EIC Accelerator funding in June 2022.
Future Impact of New Team Members
The growth in team size and expertise, facilitated by new funding and strategic partnerships, is expected to enhance Arthex Biotech's ability to scale and grow. New team members will likely play crucial roles in advancing clinical trials, expanding the pipeline, and ensuring the successful development of innovative microRNA modulators. This growth positions Arthex Biotech to become a leader in treating diseases with unmet medical needs, particularly those involving microRNA dysregulation.
Conclusion
Arthex Biotech's recent funding success and strategic focus on microRNA modulation for rare diseases like DM1 highlight the company's potential for significant growth and impact in the biotech industry. While specific details on current hiring or exact team size are not available, the company's progress suggests an active and expanding team committed to advancing novel therapeutic approaches.
Sources: - ARTHEx Biotech
- ARTHEx Biotech Announces Closing of €42 M Series B Financing
- About - Arthex Biotech
- Columbus Venture Partners
- ARTHEx Biotech to Present Preclinical Data on ATX-01
7 The Media Features and Publications
Overview of ARTHEx Biotech S.L.
ARTHEx Biotech S.L. is a clinical-stage biotechnology company based in Valencia, Spain, which has been developing innovative RNA treatments for genetic diseases. Founded as a spin-off of the University of Valencia in September 2019, the company focuses on leveraging microRNA modulation for therapeutic applications, particularly targeting myotonic dystrophy type 1 (DM1), a rare neuromuscular disorder.
Media Features and Publications
ARTHEx Biotech has been featured in several news outlets and publications, primarily highlighting its advancements in RNA therapies and participation in significant conferences. For instance, it was announced that the company would participate in the 24th Annual Needham Virtual Healthcare Conference in 2025, where its Executive Chairman and CEO, Frédéric Legros, engaged in one-on-one meetings with investors. Additionally, the company published promising preclinical research for DM1, which was recognized in a high-quality journal like Science Advances.
Podcasts and Interviews
While specific podcasts or interviews featuring ARTHEx Biotech are not widely documented, Dr. Beatriz Llamusí, Co-Founder and former CEO of the company, has provided insights into the company's mission and vision in past interviews. For example, an interview published early in 2020 highlighted her background and ARTHEx's focus on developing antimiR-based treatments for myotonic dystrophy.
Conference and Fair Visits
ARTHEx Biotech actively participates in various conferences and events within the biotechnology sector. Notable engagements include the TIDES Europe Annual Meeting 2024, where they presented an oral presentation on ATX-01, and the 8th Annual Chardan Genetic Medicines Conference. The company also sponsored and participated in the Spanish Meeting on Oligonucleotide Therapeutics (SMOT III) in 2023, demonstrating its commitment to advancing oligonucleotide therapies.
Involvement in Events
The company's involvement in events is aimed at promoting its research and therapeutic developments. A significant milestone was the first patient dosing in the Phase I-IIa ArthemiR™ trial for DM1, marking a crucial step forward in its clinical development pipeline. Additionally, ARTHEx Biotech received the FDA Rare Pediatric Designation (RPD) for ATX-01, further underscoring its dedication to addressing unmet medical needs in rare diseases.
Sources
- News & Events - Arthex Biotech
- Publications - Arthex Biotech
- ARTHEx Biotech Announces Publication of Promising Preclinical Research for Myotonic Dystrophy Type 1 (DM1)
- ARTHEx Biotech to Participate in the 24th Annual Needham Virtual Healthcare Conference
- ARTHEx Biotech Announces First Patient Dosed in Phase I-IIa ArthemiR™ Trial for Myotonic Dystrophy Type 1 (DM1)
- Interview with Dr. Beatriz Llamusí, CEO and co-founder of ARTHEx Biotech
- ARTHEx Biotech Announces Sponsorship and Participation in the Spanish Meeting on Oligonucleotide Therapeutics (SMOT III)
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