1 The EIC Accelerator Project

The EIC Accelerator program is a prominent funding initiative under the European Innovation Council, designed to support small and medium-sized enterprises (SMEs) and startups in Europe, particularly those operating within the deep technology sector. The program aims to facilitate the transition of innovative ideas into market-ready products, services, and processes, thus driving economic growth and enhancing competitiveness within the European Union.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers a dual funding structure that combines both grants and equity investments. The grant component can reach up to €2.5 million, aimed at covering the costs associated with the development of innovative projects. This grant is particularly beneficial for early-stage companies that require financial support to validate their concepts, conduct research, and development activities, or to prepare for scaling operations.

In addition to the grant, the EIC Accelerator provides equity funding, which can extend up to €15 million until 2024. This funding is critical for startups that are looking to scale their operations and commercialize their products. Starting from 2025, the equity funding limit will decrease to €10 million, encouraging companies to focus on achieving significant milestones before seeking larger investments.

Purpose of the EIC Accelerator

The EIC Accelerator plays a vital role in the European DeepTech and startup ecosystem by offering a streamlined pathway for innovative companies to secure funding. The program not only provides financial support but also enhances the visibility of participating firms, thereby increasing their attractiveness to private investors. By encouraging collaboration between public and private sectors, the EIC Accelerator helps bridge the funding gap that often exists for deep tech ventures, allowing them to transition from initial concept through to commercial success.

Role in Scaling Companies

Through its robust funding structure, the EIC Accelerator aids companies in scaling their operations effectively. The program provides access to mentoring, networking opportunities, and expertise, enabling startups to refine their business models and strategies. This support is essential for startups to attract additional investments from private sectors, as the combination of public funding and expert guidance enhances their credibility and growth prospects.

Case Study: XENIKOS BV and Project MIT-ID

XENIKOS BV, based in the Netherlands, is a notable winner of the EIC Accelerator program, having submitted their Step 2 proposal on October 5, 2022, and subsequently securing funding through a successful Step 3 interview. Their project, known as MIT-ID (Modulatory Immunotherapy for Severe Immune Disease), focuses on developing an innovative therapeutic approach to address severe immune diseases.

Technology Basics and Background

The MIT-ID project is grounded in the field of immunotherapy, a cutting-edge area of medical science that seeks to harness and enhance the body's immune response to combat diseases. This approach is particularly relevant for conditions where the immune system is either hyperactive or dysfunctional, leading to severe health complications.

XENIKOS' technology aims to modulate the immune system rather than suppress it, representing a significant shift in how immune-related disorders are treated. The MIT-ID project utilizes a proprietary platform that integrates advanced biological research and clinical insights to develop therapies that can selectively target and adjust immune responses. This innovative method holds the potential to treat a range of severe immune diseases effectively, offering hope to patients with limited treatment options.

The combination of grant funding and equity investment from the EIC Accelerator empowers XENIKOS to advance their research and development efforts, ensuring that their innovative solutions can reach the market and ultimately improve patient outcomes. By supporting projects like MIT-ID, the EIC Accelerator demonstrates its commitment to fostering innovation that addresses critical health challenges and reinforces the importance of deep tech in the European startup landscape.

2 The Funding Rounds

Financing Raised by XENIKOS BV Since EIC Accelerator Funding

XENIKOS BV, a clinical-stage biopharmaceutical company based in the Netherlands, has pursued multiple funding rounds since its founding and was an EIC Accelerator winner at the October 5, 2022 cut-off.

Funding Rounds and Amounts

• Series B Financing (May 2018):
• Xenikos secured $30 million in Series B financing.
• The round was led by Medicxi and RA Capital Management, who were new investors at this stage.
• The funds were aimed at supporting Phase 3 clinical trials of T-Guard®, commercial-scale production preparations, and regulatory filings for acute graft-versus-host disease (aGVHD).
• Earlier Round (June 2012):
• In June 2012, Xenikos raised €5.5 million to support clinical development of T-Guard™ as an orphan drug for severe acute GVHD. This included a €1.9 million Innovation Credit from Agentschap NL (Dutch Ministry of Economic Affairs), with additional support from PPM Oost and Sanquin Blood Supply Foundation.
• EIC Accelerator Award (October 2022):
• Xenikos was selected for blended finance under the EIC Accelerator program following its successful application in October 2022. The typical offer under this scheme is up to €2.5 million in grant funding plus up to €15 million in equity per company, though exact allocations per winner are not publicly disclosed but fall within this range.

Timing & Details of Key Funding Rounds

Date	Round	Amount	Key Investors	Purpose
June 2012	Undisclosed	€5.5M total	PPM Oost, Sanquin Blood Supply Foundation	Clinical manufacturing/testing; Innovation Credit
May 2018	Series B	$30M	Medicxi (lead), RA Capital Management	Phase III trials; scale-up; regulatory submissions
Oct. 2022	EIC Accel.	Up to €17.5M* (grant+equity)

</em>Undisclosed round type but includes government/strategic investment **Exact breakdown undisclosed; falls within typical EIC Accelerator blended finance envelope

Investor Information

• Medicxi: Participated as lead investor starting Series B; Dr. Jon Edwards joined Xenikos’ Board following investment.
• RA Capital Management: Participated as co-investor alongside Medicxi for Series B; Dr. Jake Simson joined the Board.
• PPM Oost: Regional Dutch innovation fund involved since early stages.
• Sanquin Blood Supply Foundation: Strategic partner/investor focused on blood supply innovations.
• Agentschap NL: Provided government-backed innovation credit.

Company Valuations

Publicly available sources do not disclose explicit post-money valuations for any specific round.

Exit Events: IPO or Acquisitions

As of May 2025:

There is no public record or announcement that XENIKOS BV has undergone an IPO or been acquired/bought out since winning the EIC Accelerator award.

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Sources

• EIC Accelerator – October 2022 Cut-Off Winners List
• Dutch Company Xenikos Secures USD 30 Million in Series B Financing

-Xenikos Company Information—Dealroom.co

-Xenikos Secures EUR 5.5 Million Early Financing—BioSpace

-EIC Accelerator List—Dealflow.eu

-Types of Funding Rounds Explained – Coresignal Blog

3 The Press Releases

XENIKOS BV: EIC Accelerator Funding and Development Updates

EIC Accelerator Grant (2022)
Netherlands-based XENIKOS BV secured EIC Accelerator funding in the October 5, 2022, cut-off under the "Modulatory immunotherapy for severe immune disease" project. The company qualified for blended finance support, reflecting its dual need for grant funding and equity investment to advance clinical-stage therapies. While specific award amounts for individual companies are not publicly disclosed, the overall EIC funding pool for this round totaled €470 million across 78 selected startups.

Pipeline and Financial Backing
XENIKOS focuses on T-Guard®, an investigational therapy targeting steroid-resistant acute graft-versus-host disease (SR-aGVHD). Key developments include:

• Series B Financing (2018): Raised $30 million from Medicxi and RA Capital Management to initiate Phase 3 trials.
• Convertible Debt Round (2021): Secured €40 million with Veloxis Pharmaceuticals as a strategic investor, enabling trial resumption post-COVID delays.

Partnerships with Veloxis emphasize commercialization pathways for transplant-related therapies. No recent press releases on xenikos.com beyond 2021 detail post-EIC milestones or new patents.

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Sources

• EIC Accelerator winners October 2022
• EIC October 5 Cut-off Winners List
• Xenikos Series B Announcement
• Xenikos Convertible Debt Financing

4 The Technology Advancements

Xenikos BV: Post-EIC Accelerator Funding Developments (2022–2023)

As a Netherlands-based biopharmaceutical company focused on immunotherapies, Xenikos BV had been advancing its lead candidate T-Guard®, a dual toxin-conjugated antibody therapy targeting immune system "reset" in conditions like acute graft-versus-host disease (aGVHD). However, recent developments indicate significant challenges:

Key Advancements and Challenges

• Phase 3 Clinical Trial Discontinuation: In early 2023, Xenikos halted its global Phase 3 trial (NCT04934670) for steroid-refractory aGVHD after the Data Safety and Monitoring Board recommended discontinuation due to safety or efficacy concerns. The company ceased operations shortly afterward.
• Operational Wind-Down: Following the trial termination, Xenikos announced it would discontinue operations but emphasized that collected data could inform future research into immune-related diseases.
• Ongoing Precedent Collaborations: Prior to 2023, Xenikos partnered with CDMO 3P Biopharmaceuticals for T-Guard® manufacturing scale-up and process validation (2019 agreement), though no post-2022 manufacturing updates are publicly documented.

Technology and Market Progress

No published improvements to T-Guard’s technology or new features were reported post-EIC Accelerator funding. The discontinuation of its pivotal trial precluded market demonstration or pilots. Similarly, no new patents, whitepapers, or peer-reviewed studies linked to EIC funding have been disclosed publicly.

Post-Funding Trajectory

The EIC Accelerator award in October 2022 coincided with an operational phase where Xenikos was actively recruiting for its Phase 3 trial. However, the subsequent DSMB decision in early 2023 led to an abrupt cessation of clinical and corporate activities. There is no evidence that EIC funds directly influenced later-stage advancements due to this timeline overlap with operational closure.

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Sources

• Xenikos – Resetting the immune system
• Xenikos Announces Investigational New Drug Clearance by the U.S. FDA
• Dutch Company Xenikos Secures USD 30 Million in Series B Financing

Firm-specific updates post-EIC funding remain limited; additional public disclosures are unavailable following operational cessation circa Q1/Q2 2023.

5 The Partnerships and Customers

Xenikos BV: Partnerships and Relationships

Xenikos BV, a Dutch biotech company, has been actively engaging in various partnerships and collaborations to advance its innovative immunotherapy product, T-Guard. T-Guard is designed to reset the immune system in patients with severe immune diseases or post-transplantation rejection. Here are some key entities and relationships associated with Xenikos BV:

Partnerships

• 3P Biopharmaceuticals: Xenikos partnered with 3P Biopharmaceuticals, a Contract Development and Manufacturing Organization (CDMO), to manufacture T-Guard. This collaboration began in 2015 and has evolved to include process transfer, scale-up, cGMP production for clinical trials, and process validation.
• Blood and Marrow Transplant Clinical Trials Network (BMT CTN): Xenikos is working with BMT CTN to conduct a U.S.-based Phase 3 trial for T-Guard in acute graft-versus-host disease.
• Sanquin Blood Supply Foundation: Xenikos secured financing from Sanquin, which supports the manufacturing of clinical-grade T-Guard product and its clinical testing in patients with steroid-resistant acute GVHD.
• Destum Partners, Inc.: Engaged as a strategic advisory firm to support Xenikos' partnering activities, particularly at the BIO International Convention.

New Partners and Customers

While there is no specific mention of new customers, Xenikos has attracted new investors and strategic partners:

• Medicxi Ventures and RA Capital Management: Participated in a Series B financing round, providing USD 30 million to advance T-Guard's development.
• Veloxis Pharmaceuticals: Joined as a strategic investor with Xenikos securing €40 million in convertible debt financing.

Nature of New Relationships

These collaborations aim to advance T-Guard through clinical trials and manufacturing, positioning Xenikos BV as a key player in immunotherapy. The partnerships with 3P Biopharmaceuticals and BMT CTN are crucial for scaling up production and conducting pivotal clinical trials. The financial support from new investors will help in further clinical development and potential commercialization of T-Guard.

Positioning in the Market

Xenikos BV is strengthening its position in the biotech industry by focusing on innovative treatments for severe immune diseases. Collaborations with renowned organizations like BMT CTN and strategic investors enhance its credibility and potential for market success.

Technology Advancements and Scaling

The partnerships, especially with 3P Biopharmaceuticals, enable Xenikos to leverage expertise in process development and GMP manufacturing, facilitating the scale-up of T-Guard production. This collaboration is essential for advancing T-Guard into Phase 3 clinical development and eventual commercialization. The financial backing from new investors supports further research and development efforts, ensuring that Xenikos can continue to innovate and expand its product offerings.

Sources

• 3P Biopharmaceuticals Enters into a New Manufacturing Agreement with Xenikos
• Xenikos Partners with BMT CTN
• Our Team – Xenikos
• Dutch Company Xenikos Secures USD 30 Million
• Xenikos Secures EUR 5.5 Million in Financing
• Xenikos Awarded EUR 1 Million Innovation Credit Extension
• Xenikos Secures EUR 5.5 Million
• Xenikos to Introduce T-Guard at BIO 2016

6 The Hiring and Company Growth

Xenikos BV: Team Growth and Strategic Development Post-EIC Accelerator Funding As a Netherlands-based clinical-stage biopharmaceutical company, Xenikos BV specializes in immunotherapies for graft-versus-host disease (GVHD). While specific details about its current headcount or team size are not publicly disclosed, insights into its operational trajectory can be drawn from recent activities and funding rounds.

• Hiring and team growth: The company has demonstrated growth through significant financing milestones, including a €40 million convertible debt round in 2021 and the launch of a pivotal Phase III trial in 2022. These developments suggest strategic hiring to support clinical operations, regulatory processes, and manufacturing scale-up.
• Key positions: Leadership roles such as Chief Executive Officer (Dr. Ypke van Oosterhout) remain central to operations, though no recent executive changes have been reported since the 2018 Series B financing. Board expansions included representatives from Medicxi and RA Capital Management during earlier funding rounds.
• Scaling efforts: The initiation of global Phase III trials for T-Guard® highlights increased clinical and operational demands, likely necessitating hires in regulatory affairs, clinical trial management, and production roles.
• Future outlook: Progression toward commercialization of T-Guard® positions Xenikos to address steroid-refractory acute GVHD—a market projected to grow within the broader hematopoietic stem cell transplantation sector (estimated at $3.56 billion by 2025).

No direct evidence of current hiring campaigns or specific role openings is available in public domains post-2022 EIC Accelerator submission. However, continued trial execution implies ongoing recruitment for specialized functions aligned with late-stage development needs.

Sources

• Xenikos Secures USD 30 Million Series B Financing
• Xenikos' Pivotal Phase III Trial Launch
• Hematopoietic Stem Cell Transplantation Market Analysis

7 The Media Features and Publications

Xenikos BV: Media Features, Publications, and Event Involvement Xenikos BV, a Dutch biotech company developing immune-resetting therapies like T-Guard® for steroid-refractory acute graft-versus-host disease (SR-aGVHD), has been featured in industry reports, clinical trial updates, and conference presentations. Below is a detailed overview of its public engagements based on available records.

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Media Features and Publications

• Clinical Trial Results: Xenikos presented data from its Phase 1/2 trials and an expanded access program (EAP) at the 2019 American Society of Hematology (ASH) Annual Meeting. The EAP data showed a 75% clinical response rate by day 28 in SR-aGVHD patients.
• Regulatory Engagement: The European Medicines Agency’s Paediatric Committee (PDCO) reviewed Xenikos’ development plans for SR-aGVHD in February/March 2019 discussions.
• Company Updates: Its website disclosed the discontinuation of the Phase 3 T-Guard® trial in early 2023 due to a DSMB recommendation but highlighted exploratory efforts for other indications.

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Podcasts and Interviews

No publicly available podcasts or interviews with Xenikos’ team were identified in the provided sources. However, CEO Ypke van Oosterhout’s role as T-Guard®’s pioneer scientist is frequently cited in company materials.

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Conference Participation and Presentations

• ASH Annual Meeting 2019: Walter van der Velden from Radboud University Medical Center presented EAP results on behalf of Xenikos, emphasizing T-Guard®’s survival benefits compared to historical controls.
• Economic Mission to Boston (June 2023): While not explicitly named in the delegation list for this Netherlands-led life sciences mission, similar Dutch biotech firms participated, though direct evidence of Xenikos’ attendance is unavailable.

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Event Involvement Post-EIC Accelerator Funding

The exact details of their October 2022 EIC Accelerator win are not publicly documented in the provided sources. However:

• A June 2022 global Phase 3 trial launch preceded their funding timeline but was halted by early 2023 due to safety concerns.
• Operational cessation was announced post-trial discontinuation, limiting new event participation after early 2023.

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Sources Used

• Xenikos presents promising new data at ASH Annual Meeting
• EMA PDCO meeting minutes

– Xenikos discontinues operations [2023 update]