1 The EIC Accelerator Project

Overview of the EIC Accelerator Program

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, particularly those focusing on deep tech and breakthrough innovations. This program provides a unique blend of funding options, including grants and equity investments, to help companies scale their technologies and enhance their market competitiveness.

Funding Structure

The EIC Accelerator offers a blended finance model, which combines grants and equity funding. The grant component can provide up to €2.5 million, which is aimed at covering costs related to the development and commercialization of innovative products or services. The equity funding, on the other hand, is structured to support growth through investments, offering up to €15 million until 2024 and reducing to a cap of €10 million from 2025 onwards. This financial support is crucial for companies seeking to transition from research and development to market entry and scaling operations.

Purpose and Impact

The primary goal of the EIC Accelerator is to foster innovation within the European landscape by enabling startups to overcome financial barriers typical in the early stages of development. The program is particularly focused on the DeepTech sector, which often involves complex scientific advancements that require substantial investment before yielding significant returns. By providing both grants and equity investments, the EIC Accelerator helps bridge the funding gap, encouraging private sector investment and facilitating the growth of high-potential companies in Europe.

Role in Scaling Companies

The EIC Accelerator plays a pivotal role in assisting companies in scaling their operations and securing funding from private investors. By providing significant upfront funding, the program enhances the credibility of recipient companies, making them more attractive to venture capitalists and other private investors. This synergistic approach not only supports innovation but also contributes to job creation and economic growth within the EU.

Case Study: Protinhi B.V. and the ATLAS Project

Company Overview

Protinhi B.V., based in the Netherlands, is a recipient of the EIC Accelerator funding. The company is at the forefront of developing innovative solutions to combat infectious diseases, particularly those caused by flaviviruses. Their project, known by the acronym ATLAS, aims to create the first broad-spectrum treatment against pandemic-prone flaviviral infections, including Dengue, West Nile, and Zika viruses.

Project ATLAS

The ATLAS project represents a significant advancement in the field of antiviral therapeutics. The treatment is designed to target the flavivirus family, which poses a serious global health risk, especially in tropical and subtropical regions. The project aims to develop a therapeutic solution that can effectively treat infections caused by multiple flaviviruses, addressing a critical gap in current medical treatments.

Technology Background

The technology underpinning the ATLAS project is based on a novel mechanism that inhibits the replication of flaviviruses. Traditional antiviral therapies often focus on treating a single virus, but the ATLAS project aims to employ a broad-spectrum approach. This involves the identification of unique targets within the viral lifecycle that are conserved across different flavivirus strains. By leveraging cutting-edge techniques in molecular biology and virology, Protinhi B.V. seeks to develop a treatment that is not only effective against multiple flavivirus infections but also has the potential for rapid deployment during outbreaks.

Significance of the Project

The implications of the ATLAS project are profound, especially in light of recent global health challenges posed by emerging infectious diseases. By providing a reliable treatment option for multiple flaviviral infections, Protinhi B.V. aims to reduce morbidity and mortality rates associated with these diseases, ultimately enhancing public health responses to pandemics. The successful development and commercialization of this treatment could also pave the way for future antiviral therapies targeting a broader range of viral pathogens.

Conclusion

The EIC Accelerator program plays a vital role in nurturing the European startup ecosystem, particularly in the realm of deep tech and health innovation. Through its blended funding model, it empowers companies like Protinhi B.V. to tackle pressing global health challenges. The ATLAS project not only exemplifies the potential of innovative therapeutic solutions but also highlights the importance of strategic funding in bringing groundbreaking technologies to market.

2 The Funding Rounds

Protinhi B.V. (Protinhi Therapeutics) – Funding and Financing Overview Since EIC Accelerator Award

Financing Raised

Protinhi B.V., operating as Protinhi Therapeutics, is a Netherlands-based biotech company focused on developing novel broad-spectrum antiviral drugs, particularly protease inhibitors targeting viruses such as dengue and zika. As of December 2022, following the successful EIC Accelerator application (cut-off: October 5, 2022), the company was selected to receive up to €470 million in funding through a combination of grants and equity investments from the European Innovation Council (EIC). This award is part of a broader selection in which multiple Dutch startups secured a collective €77 million from the EIC.

Funding Rounds

• The most significant disclosed round since late 2022 is the EIC Accelerator funding.
• Prior to this, Protinhi received early-stage VC investment; however, public details about earlier specific rounds or amounts are limited.
• Oost NL has been identified as an investor who supported Protinhi with proof-of-concept development funds prior to or concurrent with later EU support.

Timing and Amounts

• October 5, 2022: Submission date for Step 2 EIC proposal; awarded after Step 3 interview later in Q4.
• December 20, 2022: Announcement that Protinhi would receive up to €470 million from the EIC via combined grant and equity mechanisms.
• The precise split between grant versus equity for Protinhi specifically within this maximum amount is not detailed in public sources.

Investor Information

The notable investors include: - European Innovation Council Fund (EIC Fund), providing both grant and direct equity investment as part of its deep-tech scale-up strategy.

Oost NL (East Netherlands Development Agency), an early backer supporting proof-of-concept phases—advised by consultancy INGEN HOUSZ.

No other major institutional investors have been publicly reported since late 2022.

Company Valuations

No explicit post-money or pre-money valuation figures for any funding round—including the EIC Accelerator event—have been publicly disclosed. This lack of transparency is typical for many non-publicly traded biotech companies at this stage.

Exit Events: IPOs or Acquisitions

As of May 1st, 2025:

• There have been no reports indicating that Protinhi B.V. has undergone an initial public offering (IPO).
• No acquisition or buyout events have been announced involving Protinhi B.V.

The company remains independent with ongoing support primarily from European innovation bodies.

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Sources

• Protinhi Therapeutics company information, funding & investors – Dealroom
• Protinhi Therapeutics Successful in EIC Accelerator – Health~Holland
• Protinhi Therapeutics raised funding form the European Innovation Council — Briskr
• Projects - INGEN HOUSZ

3 The Press Releases

Protinhi Therapeutics: Post-EIC Accelerator Funding Developments Protinhi B.V., a Netherlands-based biotech company specializing in protease inhibition for pandemic-prone viral diseases, has advanced its clinical and collaborative initiatives following its EIC Accelerator funding. While specific details about the EIC award are not publicly disclosed in the available sources, recent developments highlight strategic partnerships and recognition within global health ecosystems.

Key Developments

• BLUE KNIGHT Collaboration: Protinhi joined Blue Knight, a Johnson & Johnson Innovation-led initiative supporting early-stage companies focused on pandemic preparedness. This partnership provides access to JLABs’ innovation ecosystem, including mentorship and resources to accelerate R&D.
• Clinical Pipeline Progress: Protinhi is developing broad-spectrum antiviral therapies targeting flaviviruses (e.g., dengue, Zika), with clinical trial-enabling studies underway under projects like ATLAS. The company aims to finalize pharmaceutical development and initiate human proof-of-concept trials.
• Leadership & Team: Bernd van Buuren, co-founder and CEO since 2016, leads Protinhi’s expansion from a one-person operation to a team of 10 with an internationally recognized scientific advisory board. His expertise spans life sciences R&D management and business development, including prior roles at Unilever and Erasmus University Medical Centre.

Technology Focus

Protinhi’s platform targets viral proteases critical for pathogen replication, aiming to create first-in-class inhibitors against multiple flaviviruses simultaneously. This approach addresses unmet needs in pandemic preparedness by offering cross-reactive treatments rather than single-pathogen solutions.

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Sources

• The first broad-spectrum treatment against pandemic-prone flaviviral infections
• Protinhi Therapeutics selected as part of BLUE KNIGHT collaboration
• Bernd van Buuren profile at Terrapinn

4 The Technology Advancements

Current Capabilities of Protinhi B.V.

Protinhi B.V., based in the Netherlands, specializes in developing novel drugs acting as protease inhibitors for treating a wide range of illnesses, primarily focusing on viral infectious diseases. Their therapeutic areas include infectious diseases such as dengue fever, Zika, West Nile virus, chikungunya, and coronaviruses like SARS-CoV-2.

Advancements Since EIC Accelerator Funding

In October 2022, Protinhi B.V. successfully secured funding from the EIC Accelerator, which has supported their ongoing research and development efforts. Since then, the company has continued to develop broad-spectrum antiviral drugs, applying their existing technology against flaviviruses to coronaviruses, including COVID-19. Protinhi collaborates with institutions like Radboud University and Artemis Bioservices to advance antiviral medicines targeting viral proteases, crucial for viral replication.

Technology Improvement and New Features

Protinhi has developed a novel class of Geminoid protease inhibitors that target membrane-bound proteases, offering a platform for optimal selectivity and localized delivery. This technology aims to develop high-quality candidate drugs to the preclinical or early clinical stage, with plans for further development or licensing with pharmaceutical or biotech partners.

Demonstration in the Market

Protinhi's efforts are currently focused on preclinical development. There is no public information indicating that they have progressed to clinical trials or market demonstrations with customers since receiving the EIC funding. Their focus remains on advancing these compounds through research collaborations and investment in research and development.

Patents and Scientific Publications

There is no specific information available on new patents filed or scientific studies published by Protinhi B.V. since receiving the EIC Accelerator funding. However, their ongoing research activities suggest continued innovation and development in protease inhibitor technology.

Sources

• Protinhi BV - Drug pipelines, Patents, Clinical trials
• Protinhi Therapeutics
• Preclinical development of antiviral COVID medicine
• Protinhi Therapeutics develops antiviral drug against COVID-19
• Protinhi
• Protinhi Therapeutics Successful in EIC Accelerator

5 The Partnerships and Customers

Protinhi B.V. Partnerships and Strategic Positioning Post-EIC Accelerator Funding Protinhi Therapeutics B.V., a Netherlands-based biotech company, focuses on developing novel protease inhibitors targeting viral infections such as dengue, Zika, West Nile virus, chikungunya, and coronaviruses. The company’s Geminoid synthesis platform enables selective drug candidates with localized delivery capabilities.

Key Partnerships and Collaborations

• EIC Accelerator Network: Protinhi was among the successful applicants in the EIC Accelerator’s 2022 round, likely facilitating access to EU innovation ecosystems. While explicit partnership details post-funding are not publicly disclosed, such programs typically connect recipients with industry leaders and investors.
• Economic Missions: Protinhi participated in the 2023 Netherlands Economic Mission to Boston, part of a bilateral initiative between Dutch organizations like Health~Holland and Massachusetts Life Sciences Center to foster transatlantic life sciences collaboration. This positions Protinhi for potential partnerships with U.S.-based biotechs or academic institutions.

Market Positioning and Technological Advancements

The EIC funding likely supports preclinical development of its Geminoid inhibitors, which aim for out-licensing or co-development deals with pharmaceutical partners. Participation in high-profile missions enhances visibility among global stakeholders, critical for scaling operations through:

• IP Leveraging: Protinhi’s patented platform could attract partners seeking niche antiviral therapies amid rising antibiotic resistance concerns (e.g., similar to Meitheal Pharmaceuticals’ strategic acquisitions for specialized antibiotics).
• Regulatory Preparedness: Collaboration frameworks from initiatives like Health Valley (Netherlands) emphasize accelerated regulatory pathways, aiding faster entry into clinical trials.

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Sources

• Protinhi - Lifesciences @ Work
• EIC Accelerator Open: Four successful submissions - Catalyze Group
• Netherlands Economic Mission to Boston - Trade with NL.pdf)

6 The Hiring and Company Growth

Protinhi B.V., a Netherlands-based company specializing in novel protease inhibitor drugs for viral infectious diseases, has maintained a relatively small but focused team since receiving the EIC Accelerator funding in October 2022. Available data indicates their headcount ranges between 2 to 10 employees, suggesting modest team size with specialized expertise likely concentrated on drug discovery and development activities.

Hiring and Team Growth

• Current Headcount and Team Size: Protinhi is reported to have between 2 to 10 employees as per recent organizational descriptions. No exact current number beyond this range is publicly listed.
• Hiring Status: There are no direct public indications that Protinhi is actively hiring at this moment. Given the company's early-stage focus on preclinical drug candidates and partnerships with pharma/biotech firms, expansion tends to be strategic rather than rapid.
• Growth Since EIC Funding: Since winning the EIC Accelerator award in late 2022, there has been no publicly available information explicitly detailing significant increases in staff or major recruitment drives. The company’s approach appears focused on advancing their patented Geminoid protease inhibitors through preclinical stages before scaling operations or licensing out technologies.

Key Positions Recently Hired

There are no specific disclosures regarding new hires or key positions filled after receiving funding. Typical roles for such biotech startups include medicinal chemists, virologists, regulatory affairs specialists, or business development professionals; however, Protinhi has not publicly shared details of recent recruitment.

Impact of New Team Members on Future Growth

While explicit statements about new team members are unavailable, expanding teams at biotech firms like Protinhi typically supports:

• Accelerating candidate drug optimization and validation
• Strengthening regulatory strategy capabilities
• Enhancing partnership negotiations with pharmaceutical companies
• Building capacity towards clinical trial readiness

Such growth helps scale R&D efforts efficiently while positioning the company for co-development or licensing deals that can drive commercial success.

Management and Founding Team Changes

No public information suggests any major changes in management or founding leadership since obtaining the EIC Accelerator funding.

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In summary, Protinhi B.V.’s team remains lean but specialized post-EIC funding with an estimated headcount under ten employees. There is no clear evidence of active hiring campaigns or large-scale growth yet; instead, they appear focused on progressing their innovative protease inhibitor pipeline towards early clinical development while preparing for strategic partnerships. Any future hiring will likely aim at bolstering scientific expertise and business development functions essential for scaling operations effectively.

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Sources:

• Protinhi - Lifesciences @ Work
• Protinhi Therapeutics - Development Aid

7 The Media Features and Publications

Media Features and Public Visibility of Protinhi B.V. Protinhi Therapeutics (Protinhi B.V.) has been featured in industry-specific announcements and collaborative initiatives. In November 2021, the company was selected for the BLUE KNIGHT partnership, a collaboration focused on pandemic preparedness, highlighting its antiviral development efforts. While direct media articles or podcasts featuring team interviews are not publicly documented, the company’s participation in European matchmaking events underscores its engagement with stakeholders.

Publications and Industry Recognition
No peer-reviewed publications explicitly naming Protinhi B.V. were identified in publicly available records. However, descriptions of its drug pipeline appear in databases like Patsnap Synapse, which detail preclinical programs targeting dengue, Zika, Chikungunya, and coronaviruses. The company’s focus on protease inhibitors for viral replication is frequently cited across investor platforms such as Dealroom and EuroQuity.

Conference Participation and Event Involvement
Protinhi actively engaged in EU-backed networking events to accelerate COVID-19 therapeutic development. During a July 2021 European matchmaking event, representatives connected with academic institutions and biotech firms to explore collaborative opportunities. The event facilitated 219 meetings among participants, with Protinhi noting successful follow-up discussions for potential partnerships.

While no recent conference presentations or EIC Accelerator-related public appearances were found post-October 2022 (the stated funding date), earlier activities emphasize its role in antiviral innovation ecosystems.

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Sources

• Protinhi Therapeutics Company Profile
• EuroQuity: Protinhi Overview
• Patsnap Synapse Pipeline Data
• Development Aid Profile
• BLUE KNIGHT Collaboration Announcement
• EU Matchmaking Event Proceedings