1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator is a funding initiative under the European Innovation Council (EIC) designed to support small and medium-sized enterprises (SMEs) and startups in Europe. Its primary goal is to foster innovation by providing financial assistance and resources to companies developing cutting-edge technologies, particularly in the DeepTech sector.

Funding Types

Purpose in the European DeepTech and Startup Ecosystem

The EIC Accelerator plays a pivotal role in the European ecosystem by:

• Promoting Innovation: It supports innovative startups and SMEs that are often too risky for traditional funding sources, thereby encouraging breakthroughs in technology.
• Fostering Collaboration: The program encourages collaboration between startups, larger corporations, and research institutions, which can lead to synergistic innovations.
• Enhancing Competitiveness: By providing crucial funding, the EIC Accelerator helps European companies compete on a global scale, particularly in sectors like biotechnology, artificial intelligence, and advanced materials.

Role in Scaling Companies and Securing Private Funding

The EIC Accelerator aids companies in scaling by:

• Providing Initial Capital: The grant funding allows companies to focus on product development and market entry without the immediate burden of generating revenue.
• Attracting Private Investment: The EIC’s backing can serve as a stamp of approval, making it easier for companies to attract private investors. This is particularly important in the early stages when companies are often deemed too risky.
• Networking Opportunities: The EIC provides access to a network of potential partners, investors, and mentors, facilitating connections that can lead to further funding opportunities.

Case Study: PROSION GmbH and Project ProM

Company Name: PROSION GmbH
Project Acronym: ProM
Description: The ProM platform focuses on developing new ways to "drug the undruggable," targeting proteins that are traditionally considered challenging to address with conventional pharmaceuticals.
Funding Type: Grant first
Website: prosion.io
Country: Germany
Date of Cut-off for Step 2 Proposal: June 16, 2021

Project Overview

PROSION GmbH's project, ProM, aims to revolutionize the drug development landscape by creating a platform that can identify and target proteins that have historically evaded therapeutic intervention. This approach addresses significant unmet medical needs, particularly in the treatment of various diseases that lack effective therapies.

Technology Basics and Background

The underlying technology of the ProM platform leverages advanced molecular techniques to enable the targeting of challenging proteins. Traditional drug discovery often struggles with proteins that have complex structures or dynamic behaviors. The ProM platform aims to:

• Utilize Novel Screening Techniques: By employing innovative methods for screening potential drug candidates, PROSION can identify compounds that might effectively interact with these difficult targets.
• Target Allosteric Sites: The platform focuses on allosteric modulation, where drugs bind to sites other than the active site of a protein, altering its function in a way that can be therapeutically beneficial. This is particularly impactful for proteins that are not amenable to traditional active site targeting.
• Integrate Machine Learning: The ProM platform may incorporate machine learning algorithms to predict the success of drug candidates, speeding up the discovery process and improving the accuracy of targeting.

Conclusion

The EIC Accelerator is a critical component of the European innovation landscape, providing essential funding and resources to help innovative startups like PROSION GmbH thrive. By addressing the pressing challenges in drug discovery through platforms like ProM, the program not only catalyzes technological advancements but also enhances the competitiveness of the European economy in the global market.

2 The Funding Rounds

Since receiving the EIC Accelerator funding on June 16, 2021, PROSION GmbH, a Cologne-based biotech company, has secured additional investments to advance its mission of developing innovative cancer treatments.

Funding Rounds:

• Date: May 2022
• Amount: 7-figure sum (exact figure undisclosed)
• Details: In May 2022, PROSION received a significant seed investment from 10xDNA Capital Partners GmbH, a venture capital firm led by Frank Thelen. This funding aims to support the development of PROSION's cancer drug pipeline. (life-sciences-europe.com)

• Date: June 2021
• Amount: €2.5 million
• Details: In June 2021, PROSION was awarded a €2.5 million grant through the EIC Accelerator program, with the option for additional equity investment. This grant supports the company's efforts in developing treatments for hard-to-treat diseases, including aggressive forms of cancer. (eic.eismea.eu)

Investor Information:

• 10xDNA Capital Partners GmbH: Led by Frank Thelen, this venture capital firm specializes in supporting innovative biotech companies. (life-sciences-europe.com)
• European Innovation Council (EIC): A European Union initiative that provides funding and support to high-risk, high-impact innovations. (eic.eismea.eu)

Company Valuations:

Specific valuations for PROSION GmbH are not publicly disclosed. However, the company's funding history indicates a strong interest from investors in its innovative approach to drug discovery.

Additional Information:

PROSION's platform utilizes chemical building blocks to target previously undruggable proteins associated with various diseases, including cancer, diabetes, Alzheimer's, and cardiovascular diseases. The company is focused on advancing its drug discovery pipeline to address these unmet medical needs. (eic.eismea.eu)

As of April 2025, there are no publicly available records of additional funding rounds or exit events for PROSION GmbH beyond the investments mentioned above.

3 The Press Releases

Since receiving the EIC Accelerator funding on June 16, 2021, Prosion GmbH has published a press release on November 23, 2021, announcing the receipt of a €2.5 million grant from the European Innovation Council (EIC) Accelerator. (life-sciences-europe.com)

Press Release Details:

• Grant Announcement: Prosion GmbH secured a €2.5 million grant through the EIC Accelerator, with the possibility of additional funding via equity investment.
• EIC Accelerator Overview: The EIC Accelerator supports small and medium-sized enterprises (SMEs) in developing and scaling innovative solutions. Selected companies can receive a combination of grant financing and equity investment up to €17 million.
• Prosion's Vision: The company expressed gratitude to the European Commission and the EIC for their support, emphasizing their commitment to combating widespread diseases like cancer.
• Statement from Mariya Gabriel: The European Commissioner for Innovation, Research, Culture, Education, and Youth highlighted the EIC Accelerator's role in fostering top-class innovations by attracting private investors and supporting scaling efforts.

As of now, there are no additional press releases from Prosion GmbH detailing partnerships, technological advancements, team updates, patents, or other developments since this announcement.

For the most current information, it is recommended to visit Prosion GmbH's official website or their social media channels.

4 The Technology Advancements

PROSION GmbH, also known as PROSION Therapeutics, is a Cologne-based biotech company specializing in developing drugs targeting previously undruggable proteins associated with diseases such as cancer, Alzheimer's, and cardiovascular conditions. (bionity.com)

Advancements Since EIC Accelerator Funding:

Since receiving a €2.5 million grant from the European Innovation Council (EIC) Accelerator on June 16, 2021, PROSION has made several significant strides:

In May 2022, PROSION secured further investment from Freigeist Capital, aiming to expedite the development of their cancer therapeutic and advance their platform technology. (prosion.eu)

In February 2023, PROSION partnered with Collaborative Drug Discovery Inc. (CDD) to utilize the CDD Vault data management system, enhancing the organization and analysis of their R&D data. (life-sciences-europe.com)

In September 2022, PROSION was honored with the "Falling Walls - Science Breakthrough of the Year 2022" award, highlighting their innovative contributions to science. (prosion.eu)

Market Demonstrations:

As of the latest available information, PROSION is in the preclinical stage of developing a cancer therapeutic aimed at inhibiting tumor growth and metastasis. The company has not publicly disclosed specific details about clinical trials or market demonstrations involving customers or pilot programs. (prosion.eu)

Intellectual Property and Publications:

There is no publicly available information indicating that PROSION has filed new patents, published scientific studies, or released whitepapers since their EIC Accelerator funding. The company continues to focus on advancing its proprietary platform technology to address previously undruggable targets.

For the most current updates on PROSION's developments, visiting their official website or consulting recent press releases is recommended.

5 The Partnerships and Customers

PROSION GmbH, a Cologne-based biotech company specializing in developing drugs for previously "undruggable" proteins associated with diseases like cancer, Alzheimer's, and cardiovascular conditions, has made significant strides since receiving the EIC Accelerator grant in June 2021.

Partnerships and Customers:

In June 2022, PROSION secured additional funding from Freigeist Capital, a German venture capital firm. This investment aims to advance PROSION's lead oncology project through the preclinical stage, with the goal of entering clinical trials within 24 months. (eic.eismea.eu)

Additionally, PROSION has collaborated with several esteemed institutions, including Leiden University Medical Center, Oncode Institute, The Leibniz Forschungsinstitut für Molekulare Pharmakologie, and Cologne University. These partnerships provide access to specialized expertise and resources, accelerating PROSION's development efforts. (eic.eismea.eu)

Nature and Purpose of New Relationships:

The partnership with Freigeist Capital is a strategic move to secure the necessary funding for advancing PROSION's drug development pipeline, particularly in oncology. Collaborations with academic and research institutions aim to leverage their specialized knowledge and facilities to expedite the development of novel therapeutics targeting previously inaccessible proteins.

Market Positioning:

These collaborations position PROSION as a leader in the biotech sector, particularly in the development of innovative treatments for complex diseases. The backing from Freigeist Capital and esteemed research institutions enhances PROSION's credibility and visibility in the market, potentially attracting further investment and partnerships.

Advancements and Scaling:

The funding from Freigeist Capital enables PROSION to advance its lead oncology project through the preclinical stage, bringing it closer to clinical trials. Collaborations with research institutions provide access to specialized expertise and resources, facilitating the scaling of PROSION's drug development efforts. These relationships collectively support PROSION's mission to develop effective treatments for diseases previously considered "undruggable."

6 The Hiring and Company Growth

PROSION Therapeutics, a Cologne-based biotech company specializing in developing drugs for previously "undruggable" proteins associated with diseases like cancer, Alzheimer's, and cardiovascular conditions, has experienced notable growth since receiving the EIC Accelerator funding in June 2021.

Current Team Size and Hiring Status:

Specific details about PROSION's current headcount are not publicly disclosed. However, the company has demonstrated significant expansion through strategic investments and partnerships. In May 2022, PROSION secured additional funding from Freigeist Capital, aiming to expedite the development of their cancer therapeutic and advance their platform technology. (prosion.eu)

In April 2024, PROSION participated in the EIC ePitching event, showcasing their innovative ProM-technology, which targets previously inaccessible disease-relevant proteins. This participation indicates ongoing efforts to attract further investment and talent. (eic.eismea.eu)

Growth and Recent Hires:

While specific information about recent hires and key positions filled is not publicly available, the company's active participation in funding events and collaborations suggests a focus on scaling operations and enhancing their research and development capabilities.

Impact of New Team Members:

The influx of new team members, facilitated by strategic investments, is expected to bolster PROSION's capacity to advance their drug discovery platform, particularly in oncology. This expansion is crucial for accelerating the development of treatments targeting aggressive cancers and other complex diseases.

Management and Founding Team Changes:

There is no publicly available information indicating major changes in PROSION's management or founding team since the EIC Accelerator funding. The company's leadership, including CEO Dr. Slim Chiha, remains focused on leveraging their innovative platform to address unmet medical needs.

In summary, PROSION Therapeutics has demonstrated significant growth and strategic development since receiving the EIC Accelerator funding, positioning itself as a key player in the biotech sector.

7 The Media Features and Publications

Since receiving the EIC Accelerator funding on June 16, 2021, PROSION GmbH has been featured in several media outlets and participated in various events. Here's a summary of their media presence and engagements:

Media Features:

BIO-Europe 2023 Startup Spotlight: PROSION Therapeutics was highlighted as a presenter in the Startup Spotlight at BIO-Europe 2023, scheduled for November 3–5, 2025, in Vienna, Austria. (informaconnect.com)

Publications:

Specific publications naming PROSION GmbH since June 16, 2021, were not identified in the available sources.

Podcasts and Interviews:

No podcasts or interviews featuring PROSION GmbH's team were found in the provided information.

Conferences and Events:

BIO-Europe 2023: PROSION Therapeutics is scheduled to present at the BIO-Europe 2023 conference in Vienna, Austria, from November 3–5, 2025. (informaconnect.com)

Event Involvement:

No additional event involvements of PROSION GmbH since June 16, 2021, were identified in the available sources.

For more detailed information, you can visit PROSION GmbH's official website at prosion.io.