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-sized enterprises (SMEs) in developing and scaling their groundbreaking technologies. This initiative aims to enhance the competitiveness of European businesses in the global market, particularly within the DeepTech sector, which involves advanced technologies and research-driven projects.

Funding Structure

The EIC Accelerator provides a unique blended finance model that combines grants and equity investments. Applicants can receive grants of up to €2.5 million, aimed at covering costs related to product development, market entry, and scaling operations. Additionally, the program offers equity investments, which have evolved over time. Until 2024, companies can secure equity funding of up to €15 million, decreasing to a maximum of €10 million from 2025 onwards. This financial structure is designed to minimize the risk for entrepreneurs while ensuring that the EIC can participate in the potential upside of successful innovations.

Purpose and Impact

The primary purpose of the EIC Accelerator is to address the funding gaps faced by innovative companies, particularly in the DeepTech domain, where high risk and long development timelines often deter private investors. By providing substantial funding and support, the EIC Accelerator enables startups to advance their technologies, conduct necessary research, and ultimately bring their products to market. This initiative plays a crucial role in fostering innovation, creating jobs, and driving economic growth within Europe.

Role in Scaling and Funding

The EIC Accelerator not only provides financial support but also enhances the visibility of selected companies, making it easier for them to attract additional financing from private investors. The program connects startups with a network of venture capitalists, business angels, and corporate partners, facilitating access to further resources. This dual approach of funding and networking is essential in helping companies scale their operations and achieve commercial success.

EIC Accelerator Winner: HEMISPHERIAN AS

Company Overview
HEMISPHERIAN AS, based in Norway, is an innovative biotech company focused on developing therapies for challenging cancer types. It has emerged as a notable winner in the EIC Accelerator program, securing funding for its project titled CureGLIO.

Project Description: CureGLIO
CureGLIO aims to clinically validate GLIX1, a small molecule designed to target epigenetic changes in cancer cells specifically for the treatment of glioblastoma multiforme (GBM). GBM is recognized as one of the most aggressive and lethal forms of brain cancer, presenting a significant unmet medical need in oncology.

Technology Background

GLIX1 Mechanism
GLIX1 operates through the modulation of epigenetic mechanisms that are often disrupted in cancer cells. Epigenetics refers to biochemical modifications that affect gene expression without altering the underlying DNA sequence. In cancer, these changes can lead to uncontrolled cell growth and tumor progression. By targeting these epigenetic alterations, GLIX1 aims to restore normal cellular function, potentially halting the progression of GBM.

Research Significance
The development of GLIX1 is particularly significant given the current limitations in treatment options for GBM. Standard therapies, including surgery, radiation, and chemotherapy, have limited effectiveness and often result in poor patient outcomes. The innovative approach of using a small molecule to address the underlying epigenetic changes represents a promising avenue for improving therapeutic strategies in this challenging area.

Conclusion

The EIC Accelerator program serves as a vital resource for innovative companies like HEMISPHERIAN AS, enabling them to secure essential funding and support to advance their groundbreaking projects. The successful funding of CureGLIO exemplifies the EIC Accelerator's commitment to fostering innovation in the European DeepTech ecosystem, particularly in addressing critical health challenges such as glioblastoma multiforme. Through its combined grant and equity investment model, the EIC Accelerator not only facilitates the growth of individual startups but also strengthens the overall European innovation landscape.

2 The Funding Rounds

Hemispherian AS: Financing and Funding Events Since EIC Accelerator Award

Financing Raised and Funding Rounds

Since submitting its successful EIC Accelerator proposal in June 2022, Hemispherian AS has significantly advanced its fundraising activities. The company has raised capital through several funding rounds, including both grants and equity investments.

• In May 2022 (shortly before or around the EIC Accelerator process), Hemispherian closed an oversubscribed seed round, raising NOK 12.5 million (approximately USD 1.4 million). This round was led by the Dutch investment firm Meneldor with participation from Norwegian and American investors.
• In October/November 2022, Hemispherian announced it had raised the first tranche of its Series A financing, securing NOK 30 million (about USD 2.9 million). The funds were earmarked for further drug development and expanding their preclinical pipeline.
• According to aggregated financial data, as of late 2023, Hemispherian had raised a total of approximately $17.23 million over seven rounds. This includes grants—such as a Grant III round for $1.54 million received on December 19, 2023—and various seed/venture investments since inception.

Timing and Amounts of Funding Rounds

Date	Round Type	Amount Raised	Currency
May 3, 2022	Seed	NOK 12.5M	~$1.4M USD
Oct–Nov 2022	Series A	NOK 30M	~$2.9M USD
Oct 2022	Unknown	$7.37M	USD
Oct 2022	Unknown	$7.3M	USD
Dec 19, 2023	Grant III	$1.54M	USD

</em>The “Series A” announcement refers specifically to the first tranche; additional amounts may have been raised in subsequent tranches or related rounds.

Investor Information

Hemispherian’s key investors include:

• Meneldor (Netherlands-based biotech/pharma investor; lead investor in seed round)
• Kistefos Venture Capital
• Kvantia
• Steven Powell (angel investor)
• Norges Forskningsråd (Norwegian Research Council; government grant provider)

Meneldor’s involvement also brought new board members: Paul Lelieveld (Meneldor Co-Founder), Wolfram Eichner, Frode Vartdal—joining existing members Steven Powell, Dallas Hack, and Masha Strømme.

Company Valuations

No explicit post-money valuations have been disclosed in public sources for any specific funding round.

Exit Events: IPOs or Acquisitions

As of April 30th 2025:

• There is no public record that Hemispherian AS has undertaken an initial public offering (IPO) or been acquired.
• The company remains privately held with ongoing preclinical development activities focused on novel cancer therapeutics.

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Sources

• Hemispherian raises seed funding for novel cancer therapeutics
• Hemispherian raises the first tranche of a Series A to fund the development of its novel cancer therapeutics
• PR Newswire: Hemispherian raises Series A
• CB Insights — Hemispherians Financials & Investors
• Seedtable — Company Information & Funding Data

3 The Press Releases

Hemispherian AS: Recent Developments Since EIC Accelerator Funding

Hemispherian AS, a Norwegian preclinical pharmaceutical company, has made significant strides since receiving funding from the European Innovation Council (EIC) Accelerator Program in June 2022. Here are the key developments and updates related to the company:

Funding and Grants

• EIC Accelerator Program: Hemispherian secured EUR 10M in financing from the EIC Accelerator Program, which supports the development of its innovative cancer therapeutics.
• Series A Funding: The company raised the first tranche of its Series A funding to further support the development of its novel cancer treatments.
• Research Council of Norway Grant: In December 2023, Hemispherian was awarded NOK 16 million by the Research Council of Norway to advance its drug candidates, including GLIX5 for platinum-resistant ovarian cancers.

Technology and Drug Development

• GLIX Compounds: Hemispherian focuses on developing small molecule drugs (GLIX) that target the TET2 enzyme, activating the DNA damage response to kill cancer cells. The lead compound, GLIX1, is in late-stage preclinical development for glioblastoma multiforme.
• Precision Therapy: GLIX molecules are designed to selectively target and destroy cancer cells, minimizing harm to healthy tissues. This approach has shown promising preclinical data with no recorded side effects.

Partnerships and Team Updates

• Clinical Advisory Board: Hemispherian's Clinical Advisory Board is chaired by Dr. Roger Stupp, bringing together world leaders in brain cancer to support the company's clinical trials.
• Strategic Partnerships: The company is working with prestigious medical institutions like Stanford, Mount Sinai, and Northwestern to advance its clinical trials.
• Board Members: Following its seed funding, Hemispherian welcomed new board members Paul Lelieveld, Wolfram Eichner, and Frode Vartdal to support its preclinical and clinical ambitions.

Patents

First Granted Patent: Hemispherian announced its first granted patent in March 2021, marking a significant milestone in its intellectual property development.

Press Releases and Updates

• Hemispherian's press releases are available on its website, detailing its funding successes, clinical advancements, and strategic partnerships.
• The company's updates often highlight its innovative approach to cancer treatment and its progress towards clinical trials.

Sources

• Hemispherian News
• Hemispherian Raises Series A
• Hemispherian Raises Seed Funding
• Hemispherian's First Granted Patent
• Revolutionizing Cancer Therapy
• Hemispherian Raises Seed Funding
• Hemispherian Overview
• Hemispherian Awarded NOK 16M Grant

4 The Technology Advancements

Hemispherian AS: Current Capabilities and Advancements

Hemispherian AS, a Norwegian preclinical pharmaceutical company, has been at the forefront of developing innovative cancer treatments, particularly focusing on epigenetic therapies. Founded in 2015 by Zeno Albisser and Adam Robertson, the company is based in Oslo, Norway, and has gained significant recognition for its novel approach to cancer treatment.

Current Capabilities

Hemispherian's primary focus is on creating small molecule drugs that target the TET2 enzyme, aiming to restore normal epigenetic functions in cancer cells, thereby inducing cancer cell death. Their lead compound, GLIX1, is specifically developed for treating glioblastoma, a deadly form of central nervous system cancer. The company's therapeutic approach is highly targeted, ensuring minimal impact on normal tissues while effectively combating aggressive cancers.

Advancements Since EIC Accelerator Funding

In June 2022, Hemispherian AS received substantial support from the European Innovation Council (EIC) Accelerator program, securing €10 million in funding, which includes a grant of €2.5 million and €7.5 million in equity financing. This funding has been instrumental in advancing GLIX1 through Phase I and Phase II clinical trials. Additionally, in December 2023, Hemispherian was awarded a NOK 16 million grant from the Research Council of Norway to develop promising drug candidates for treating platinum-resistant ovarian cancer.

Improvements and New Features

Since receiving the EIC funding, Hemispherian has continued to enhance its GLIX compound series. The company is also developing a companion diagnostics tool to optimize patient selection for its therapies, ensuring the most effective treatment outcomes. While specific details on new features are not explicitly mentioned, the EIC funding has significantly supported the progression of its lead compounds through critical clinical stages.

Demonstration in the Market

Hemispherian's advancements are primarily in the preclinical and early clinical stages. As such, the company has not yet demonstrated its technology with customers through market-ready products. However, the progression towards clinical trials indicates a move towards testing its therapies in human subjects, which is a crucial step towards bringing these treatments to the market.

New Patents, Studies, and Trials

In March 2021, Hemispherian announced its first granted patent, which covers the use of GLIX family compounds in cancer treatment. This patent, filed in February 2019, offers exclusivity until February 2039. Since the EIC funding, there is no public information on new patents filed or significant scientific studies published. The focus has been on advancing GLIX1 through clinical trials with the support of the EIC funding.

Conclusion

Hemispherian AS continues to make significant strides in cancer therapy, particularly in targeting aggressive cancers through epigenetic modification. With substantial funding support, the company is well-positioned to advance its lead compounds into clinical trials, marking a crucial step towards commercialization.

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Sources

• Hemispherian | An entirely new way of treating cancer
• Latest Updates - Hemispherian News
• Hemispherian Secures EUR 10M in Financing from the European Innovation Council (EIC) Accelerator Program
• Hemispherian awarded NOK 16M grant from the Research Council of Norway
• Hemispherian is delighted to announce its first granted patent

5 The Partnerships and Customers

Hemispherian AS Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding

Since securing €10 million in October 2022 through the European Innovation Council (EIC) Accelerator program, Hemispherian AS has advanced its preclinical pipeline and expanded collaborations to position itself as a leader in epigenetic cancer therapeutics. Below is an analysis of partnerships, customers, and strategic relationships shaping the company’s trajectory:

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Key Partnerships and Collaborations

• Academic Institutions: Hemispherian is collaborating with Stanford University, Mount Sinai Health System, and Northwestern University for upcoming clinical trials of its GLIX Molecules, focusing on glioblastoma treatment. These partnerships aim to validate preclinical efficacy data and accelerate regulatory approvals.
• Government Grants: The Research Council of Norway awarded NOK 16 million (December 2023) to advance GLIX5 for platinum-resistant ovarian cancers, reflecting institutional confidence in its therapeutic platform.
• Pharmaceutical Interest: The company has attracted attention from unnamed "world’s largest pharmaceutical companies" monitoring GLIX’s development, suggesting potential future licensing or co-development agreements.

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Market Positioning Through Relationships

• Clinical Focus: Collaborations with leading medical institutions enhance credibility for Phase I/II trials, critical for attracting further investment and partnerships.
• Cost-Effective Pricing: Hemispherian plans to price GLIX "substantially lower" than current standards (e.g., temozolomide), positioning it competitively in the multi-billion-dollar glioblastoma market.
• Pipeline Diversification: Funding from Norway supports expansion into ovarian cancer therapeutics, broadening addressable markets beyond central nervous system malignancies.

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Technology Advancements via Partnerships

• Preclinical Validation: Academic collaborations provide access to specialized oncology models (e.g., patient-derived xenografts) to refine drug delivery mechanisms.
• Mechanistic Insights: Joint research underscores GLIX’s ability to restore 5-hydroxymethylcytosine levels via TET2 activation—a universal epigenetic deficiency in cancers—enabling broad applicability across tumor types.

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Sources Used:

Hemispherian Secures EUR 10M in Financing | Revolutionizing Cancer Therapy | NOK 16M Grant Announcement | GLIX Mechanism Details

6 The Hiring and Company Growth

Hemispherian AS Team Dynamics and Growth Post-EIC Accelerator Funding

Hemispherian AS, a Norwegian preclinical biopharmaceutical company specializing in epigenetic cancer therapeutics, has not publicly disclosed specific details about its current headcount or recent hiring activities. However, insights into its growth trajectory can be drawn from funding milestones and strategic developments:

• Funding-Driven Scaling: The company secured a €10M grant from the European Innovation Council (EIC) Accelerator Program, followed by an additional NOK 16M (~€1.4M) grant from Norway’s Research Council in late 2023. These funds are earmarked for advancing GLIX5 (targeting platinum-resistant ovarian cancers) and GLIX1 (for glioblastoma), indicating likely expansion in R&D roles.
• Team Size Indications: External directories categorize Hemispherian as having a team of 1–10 employees, though this information may not reflect post-funding scaling efforts. The lack of recent job postings or explicit hiring announcements suggests the team remains small but specialized.
• Leadership Continuity: CEO Zeno Albisser continues to lead the company, with no reported changes to the founding team. Advisory board expansions include oncology experts like Dr. Roger Stupp, signaling clinical-stage preparations.
• Growth Implications: Recent funding enables progression toward clinical trials for GLIX compounds, which would necessitate hires in regulatory affairs, clinical operations, and manufacturing as pipelines mature.

While exact hiring figures are unavailable, Hemispherian’s financial backing positions it to scale operations ahead of potential Phase I trials for its lead candidates.

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Sources
Hemispherian Secures EUR 10M EIC Grant
Hemispherian Awarded NOK 16M by Research Council of Norway
Hemispherean Team Size Estimate
Hemispherean Leadership Details
Clinical Advisory Board Expansion

7 The Media Features and Publications

Overview of Hemispherian AS

Hemispherian AS is a preclinical pharmaceutical company based in Norway, focused on developing a novel class of small molecule drugs. The company's primary target is the TET2 enzyme, aiming to create targeted therapies for aggressive cancers, particularly glioblastoma, a deadly brain tumor.

Media Features and Publications

Hemispherian AS has been mentioned in publications related to the development of new cancer therapies. Notably, it has been highlighted for its innovative approach in targeting the TET2 enzyme to treat cancers like glioblastoma. The company's work involves restoring the epigenetic balance in cancer cells, leading to cancer cell death.

Podcasts and Interviews

Adam Robertson, the Chief Scientific Officer of Hemispherian, participated in The Bioinformatics CRO Podcast. In this episode, he discussed the company's efforts in developing cancer therapeutics, specifically focusing on glioblastoma, and shared insights into the research background and the discovery of the molecules being advanced by Hemispherian.

Conferences and Event Participation

While specific details about Hemispherian's participation in conferences or fairs are not widely documented, the company's involvement in the EIC Accelerator program is significant. Hemispherian AS won the EIC Accelerator funding after submitting a proposal in June 2022, which underscores its potential and commitment to innovative research in cancer therapies.

Involvement in Events

Hemispherian's involvement in broader scientific events is likely centered around its research and development activities. Given its focus on advancing cancer therapies, the company might participate in oncology-focused conferences and workshops, although specific details about these events are not readily available.

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Sources: - Hemispherian | An entirely new way of treating cancer

• Hemispherian raises the first tranche of a Series A to fund the development of its novel cancer therapeutics
• Hemispherian closes seed funding to advance preclinical pipeline for cancer
• Adam Robertson - The Bioinformatics CRO Podcast