1 The EIC Accelerator Project
EIC Accelerator Program Overview
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups in the European Union that are developing innovative and high-risk technologies, particularly in the DeepTech sector. The program aims to bridge the gap between idea development and market entry, enabling companies to scale and achieve commercial success.
Funding Structure
The EIC Accelerator offers a unique blended finance model that combines grant funding and equity investments.
Purpose in the European DeepTech Ecosystem
The EIC Accelerator plays a crucial role in the European DeepTech and startup ecosystem by addressing the challenges faced by innovative companies. Many startups encounter difficulties in securing funding due to the high risks associated with their technologies. The EIC Accelerator mitigates these challenges by providing financial support, expertise, and access to a vast network of investors and industry experts. This support is vital for fostering innovation, creating jobs, and enhancing the competitiveness of the European market on a global scale.
Role in Scaling Companies
Through its funding and support mechanisms, the EIC Accelerator assists companies in scaling their innovations. The program not only provides financial resources but also offers mentorship, networking opportunities, and access to potential partners and investors. By bridging the funding gap, the EIC Accelerator enables companies to focus on their strategic objectives, refine their business models, and ultimately, achieve commercial viability.
EIC Accelerator Winner: HEPHAISTOS-PHARMA
Company Overview
HEPHAISTOS-PHARMA, based in France, is an innovative biotechnology company that focuses on developing advanced therapeutic solutions. The company recently won funding through the EIC Accelerator for its project titled IVI-Boost, which stands for IntraVenous Immune Boost.
Project Overview: IVI-Boost
The IVI-Boost project aims to enhance immune response through a novel intravenous delivery system that optimizes the administration of therapeutic agents. This project seeks to address critical gaps in current immunotherapy approaches, particularly for patients with compromised immune systems.
Technology Basics and Background
The IVI-Boost technology is grounded in the principles of immunology and drug delivery systems. By utilizing a specialized intravenous administration method, HEPHAISTOS-PHARMA aims to significantly improve the bioavailability and efficacy of immune-boosting agents. Traditional methods of drug delivery often face limitations, such as poor absorption and rapid metabolism, which can hinder therapeutic effectiveness.
The innovative approach taken by IVI-Boost focuses on enhancing the pharmacokinetics of immune therapies, ensuring that the therapeutic agents reach their targets more effectively and sustainably. This involves a unique formulation that is designed to maximize the immune response while minimizing potential side effects.
HEPHAISTOS-PHARMA's commitment to advancing healthcare through cutting-edge technology positions the IVI-Boost project as a significant contribution to the ongoing fight against various diseases, particularly those that affect immune-compromised individuals.
By winning the EIC Accelerator funding, HEPHAISTOS-PHARMA is poised to accelerate the development and commercialization of IVI-Boost, ultimately aiming to improve patient outcomes and contribute to the advancement of immunotherapy solutions in the healthcare landscape.
For more information about HEPHAISTOS-PHARMA and their groundbreaking work, visit their website at hephaistos-pharma.com.
2 The Funding Rounds
HEPHAISTOS-Pharma: Financing, Funding Rounds, Investors, and Valuation Since EIC Accelerator Award
HEPHAISTOS-Pharma, a French biotechnology company focused on next-generation immunotherapies against cancer, has raised significant funding since winning the EIC Accelerator in June 2023. Below is a detailed overview of their financing history, investor participation, use of proceeds, and available valuation data since that milestone.
Financing Raised and Funding Rounds
1. EIC Accelerator Grant (June 2023)
- Amount: €2.5 million
- Type: Non-dilutive grant from the European Innovation Council.
- Purpose: To support preclinical development activities.
2. Seed Round (January–May 2024)
HEPHAISTOS-Pharma completed an extended seed round in two main stages:
| Date | Amount | Type | Lead/Key Investors |
|---|---|---|---|
| Jan 2024 | €2.0m | Seed Equity | xista science ventures (co-lead), Foundation Fournier-Majoie (co-lead), Noshaq |
| May 2024 | €4.5m | Seed Equity | Elaia Partners (lead), xista science ventures, Fondation Fournier-Majoie, Noshaq, Angels Santé, Femmes Business Angels |
( indicates continued or additional participation)
Total private equity raised in seed rounds: €6.5 million.
3. Additional Non-Dilutive Public Funding Alongside equity investments: - Bpifrance i-Nov Grant
Aggregate Funding Since June 2023:
Combining all sources post-EIC Accelerator win:
Investor Information
The following investors participated across these funding rounds: - Elaia Partners (lead investor for €4.5M round)
- xista science ventures
- Fondation Fournier-Majoie
- Noshaq
- Angels Santé
- Femmes Business Angels
These investors bring not only capital but also expertise and networks to support clinical advancement and scaling efforts.
Timing and Use of Proceeds
The main uses for these funds include: - Advancing ONCO‑Boost into clinical phases, – Industrializing manufacturing processes, – Regulatory toxicity studies to prepare for CTA filings in Europe, – Expanding operations including opening a subsidiary in Liège, Belgium.
Additionally, HEPHAISTOS is involved as part of the SyStInn consortium led by academic partners that received an extra €9.8M grant from France’s National Research Agency RHU program to help fund future clinical trials evaluating ONCO‑Boost. This RHU program grant does not directly finance HEPHAISTOS but supports its lead asset’s early-stage clinical research.
Company Valuation Data
Recent reports estimate HEPHAISTOS‑Pharma’s enterprise value at approximately $20–30 million as of early/mid‑2024. Detailed post-money valuations immediately after each round are not publicly disclosed.
Exit Events—IPO or Acquisitions
As of May 2025: — No IPOs or public listings have been reported. — No acquisitions or buyouts have been announced. HEPHAISTOS remains privately held with its latest activity focused on entering first-in-human clinical trials.
Summary Table – Key Fundraising Events Since June 21st, 2023
| Date | Round/Funding | Amount | Type | Main Investors/Source |
|---|---|---|---|---|
| Jun 21, ’23+ | EIC Accelerator | €2.5M | Non-dilutive | European Innovation Council |
| Jan ’24 | Seed Round | €2M | Equity | xista science ventures; Fondation Fournier-Majoie; Noshaq |
| May ’24 | Extended Seed | ~€4–4.5M | Equity Elaia Partners; previous institutional & angel investors | |
| Various + non-dilutive grants + ~€1M Non-dilutive Bpifrance i-Nov & France2030 |
Total raised since mid‑’23: Over €10 million, combining public grants/non-dilutive financing with private investment.
Sources
- Dealroom – Hephaistos Pharma
- Freeway PHX – Hephaistos Pharma
- Matwin – Hephaistos secures €10.3 M
- xista.vc News – Hephaistos secures seed round
- Life Sciences Europe Press Release
- BioSpace Press Release
- InvestNY Enterprise Value Estimate
- FinSMEs — Hephaistos raises €10m+ seed funding
3 The Press Releases
HEPHAISTOS-Pharma: Advancements and Updates
HEPHAISTOS-Pharma, an innovative biotech company from France, has been making significant strides in the field of oncology since receiving the EIC Accelerator funding in June 2023. The company is focused on developing novel immunotherapies to tackle immune-resistant tumors, leveraging advanced TLR4 activators to enhance cancer treatment efficacy.
Technological Advancements
HEPHAISTOS-Pharma is pioneering the use of detoxified and augmented TLR4 activators. These immunomodulators address the three primary causes of tumor immune evasion: sub-activation of immune cells, difficulties in reaching the tumor site, and impaired functionality. This approach enables a systemic treatment strategy, overcoming limitations of previous TLR4 activators that were restricted to intra-tumoral injections or vaccine adjuvants.
Partnerships and Funding
In 2023, HEPHAISTOS-Pharma was awarded a 2.5M€ EIC Accelerator grant, further solidifying its position as a leader in immunotherapy innovation. The company has also secured funding from other prestigious programs, including BPIFRANCE i-Nov and the French National Research Agency (ANR) through the RHU program. Additionally, HEPHAISTOS-Pharma is part of the SyStInn consortium, which received a significant grant to support clinical trials for ONCO-Boost, its lead product.
In January 2024, HEPHAISTOS-Pharma secured a €2 million seed round with Xista Science Ventures, Foundation Fournier-Majoie, and Noshaq. This financing round was crucial for advancing its lead candidate, ONCO-Boost, toward clinical development for solid tumors with high unmet medical needs. Later in May 2024, the company successfully completed its seed round with Elaia, securing a total of €10.3 million, which will primarily fund industrial-scale drug production and regulatory studies necessary for a Clinical Trial Application (CTA) in Europe.
Team Updates and Recognition
Frederic Caroff, CEO of HEPHAISTOS-Pharma, was set to attend the BIO-Europe Spring conference in Barcelona, further highlighting the company's growing presence in the biotech industry. HEPHAISTOS-Pharma also won the "Golden Ticket" award from Amgen France and BioLabs Hôtel-Dieu in December 2024, recognizing its innovative approach to oncology.
Press Releases and Updates
HEPHAISTOS-Pharma regularly updates its news section with press releases and announcements. Recent news includes the completion of the seed round, the "Golden Ticket" award, and participation in notable events like the BIO-Europe Spring conference. The company's website also features information on its pipeline, R&D activities, and partnerships.
Patents and Intellectual Property
While specific details on patents are not publicly disclosed, HEPHAISTOS-Pharma's innovative TLR4 activator technology represents a significant intellectual property advancement in the field of immunotherapy.
Sources: - HEPHAISTOS-Pharma: Homepage
- PR: HEPHAISTOS secures €10.3 M to reach the clinical stage
- Hephaistos-Pharma, Liège (BE)
- HEPHAISTOS-Pharma secures a €2 million seed round
- HEPHAISTOS-Pharma | Viva Technology
4 The Technology Advancements
HEPHAISTOS-Pharma's Post-EIC Accelerator Progress Since securing the EIC Accelerator grant in 2023, HEPHAISTOS-Pharma has advanced its mission to develop immunostimulants targeting "cold" tumors resistant to existing therapies. The company’s lead candidate, ONCO-Boost, a systemic TLR4 agonist, remains central to its preclinical pipeline, with recent milestones focusing on industrialization and clinical preparation.Key Advancements Since 2023
- Funding Expansion: Closed a €10.3 million financing round (May 2024), combining €4.5M seed funding led by Elaia with xista science ventures and €5.8M non-dilutive grants from EIC Accelerator, Bpifrance i-Nov, and France 2030.
- Regulatory Progress: Initiated industrialization of drug production and regulatory toxicity studies ahead of filing for a Clinical Trial Application (CTA) in Europe.
- Clinical Partnerships: Joined the SyStInn consortium under France’s RHU grant program (€9M total), which will co-fund Phase 1/2 trials for ONCO-Boost in collaboration with academic centers.
Technological Development & Market Presence
While no new patents or peer-reviewed studies were explicitly mentioned post-EIC award, preclinical data across multiple cancer types—including refractory solid tumors—has been emphasized as validation for ONCO-Boost’s mechanism. The company reports exploring combination therapies with other immunotherapies (e.g., checkpoint inhibitors) but has yet to enter clinical trials or commercial partnerships.Recognition & Strategic Positioning
HEPHAISTOS won the Hello Tomorrow Global Challenge in March 2025 for its approach to converting cold tumors into immune-responsive targets, reinforcing its visibility in deep-tech oncology circles. The MATWIN Board previously recognized ONCO-Boost as "Best-In-Class Therapeutic Innovation" in 2020, though no recent awards beyond Hello Tomorrow were cited.
Sources
- HEPHAISTOS secures €10.3 M to reach the clinical stage
- French biotech HEPHAISTOS-Pharma gets €4.5 million
- The Winners of the 2025 Hello Tomorrow Global Challenge (truncated URL) → Full link unavailable; refer to domain hello-tomorrow.org.*
5 The Partnerships and Customers
HEPHAISTOS-PHARMA: Partnerships and Advancements
HEPHAISTOS-PHARMA, a French biotechnology company specializing in next-generation immunotherapies against cancer, has made significant strides since receiving the EIC Accelerator funding in June 2023. The company focuses on developing immunostimulants that target innate immunity to enhance cancer treatment outcomes, particularly for cold tumors that are resistant to current immunotherapies.
Partnerships and Associations
HEPHAISTOS-PHARMA has formed partnerships with several prominent entities, including:
- Elaia: A leading European venture capital firm that led a consortium of investors, contributing €4.5 million towards HEPHAISTOS-PHARMA's seed funding. Elaia's involvement is crucial for guiding the company through clinical trials and success.
- xista science ventures, Fondation Fournier-Majoie, and Noshaq: These entities initiated the investment consortium and provided necessary funds and expertise.
- Angels Santé and Femmes Business Angels: Participated in the seed round, bringing additional investment and networking opportunities.
- Bpifrance i-Nov and EIC Accelerator: Provided non-dilutive funding, supporting HEPHAISTOS-PHARMA's technological advancements and clinical trials.
- Paris Saclay Cancer Cluster: Recognizes HEPHAISTOS-PHARMA for its innovative approach and disruptive potential in cancer treatment.
New Partners and Customers
Currently, there is no specific information available on new partners or customers for HEPHAISTOS-PHARMA. However, the company's growth and partnerships suggest an expanding network that could attract additional collaborations in the future.
Nature and Purpose of Relationships
The partnerships established by HEPHAISTOS-PHARMA are aimed at advancing its lead candidate, ONCO-Boost, towards clinical trials. These collaborations provide not only financial support but also strategic expertise and networking opportunities, which are essential for scaling up operations and achieving clinical milestones.
Market Positioning and Advancements
These relationships will position HEPHAISTOS-PHARMA as a leader in developing innovative immunotherapies for hard-to-treat cancers. By leveraging the expertise and resources from its partners, the company can accelerate technology advancements and scale its operations more effectively. This strategic positioning could lead to significant breakthroughs in cancer treatment, enhancing HEPHAISTOS-PHARMA's market presence and influence in the biotechnology sector.
Technology Advancements and Scaling
The partnerships and funding will enable HEPHAISTOS-PHARMA to further develop its technology, focusing on the industrialization of drug production and conducting regulatory toxicity studies necessary for clinical trials. The support from prestigious programs like Bpifrance i-Nov and the EIC Accelerator will be crucial for accelerating these developments and scaling up the company's operations efficiently.
Sources
- HEPHAISTOS-Pharma: Homepage
- Hephaistos Pharma Raises USD4.88 Million in Seed Financing
- HEPHAISTOS secures €10.3 M to reach the clinical stage
- HEPHAISTOS-Pharma | Viva Technology
- HEPHAISTOS secures €10.3 M to reach the clinical stage | Matwin
- French biotech HEPHAISTOS-Pharma gets €4.5 million to develop next-gen of immunostimulants against cancer
- HEPHAISTOS-Pharma secures €4.3M Seed funding for cancer immunotherapies
- Hephaistos-Pharma, Liège (BE) - Life-Sciences-Benelux.com
6 The Hiring and Company Growth
HEPHAISTOS-PHARMA: Team Growth and Development
HEPHAISTOS-PHARMA, a French biotechnology company specializing in immunotherapy, achieved a significant milestone by winning the EIC Accelerator funding in June 2023. This funding has likely impacted their growth and hiring strategies.
Current Headcount and Team Size
The exact current headcount or team size of HEPHAISTOS-PHARMA is not publicly disclosed. However, as a preclinical stage company, they would typically have a smaller but highly specialized team.Hiring Status
There is no specific information available on whether HEPHAISTOS-PHARMA is currently hiring. Given their stage and the recent funding, it is plausible they are expanding their team to accelerate research and development.Growth
HEPHAISTOS-PHARMA has secured significant funding, including €18.1 million in seed and non-dilutive funding, which indicates a substantial growth trajectory. This financial support is crucial for advancing their research and expanding operations.Key Positions
Although specific recent hires are not detailed, the company's founding team includes key figures like Dr. Martine Caroff as Chief Scientific Officer and Prof. Charles Dumontet as Deputy Director. Their leadership positions suggest a strong foundation in scientific expertise and oncology research.Impact of New Team Members
New team members at HEPHAISTOS-PHARMA would likely play a crucial role in scaling the company by contributing to the development of advanced immunotherapies. Their growth strategy focuses on harnessing the immune system to combat cancer, and additional talent would help accelerate this mission.Management Changes
There are no reported major changes in the management or founding team of HEPHAISTOS-PHARMA. The company's leadership remains focused on advancing their innovative approaches in immuno-oncology.Sources
- HEPHAISTOS-Pharma: Homepage
- Hephaistos Pharma Raises USD4.88 Million in Seed Financing
- Top Startups in Orsay
- 16th ELSF Forum Presenters
- Elaia Partners
- Startups & scaleups
7 The Media Features and Publications
HEPHAISTOS-PHARMA: A Pioneer in Immunotherapy
Overview
HEPHAISTOS-PHARMA is a French biotechnology startup that has been making strides in the field of immunotherapy since its inception. The company is focused on developing innovative treatments for cancer, particularly targeting immune-resistant or "cold" tumors that fail to respond to current immunotherapies. Following its successful funding through the EIC Accelerator in June 2023, HEPHAISTOS-PHARMA has been advancing its research and development activities.
Media Features and Publications
While specific media features and publications directly naming HEPHAISTOS-PHARMA are not extensively detailed in available sources, the company's innovative approach to cancer treatment has likely garnered attention in scientific and biotech circles. The company's achievements, such as securing significant funding and advancing its preclinical drug candidates, could be featured in industry-specific news outlets or scientific publications focused on oncology and immunotherapy.
Podcasts and Interviews
There are no reported podcasts or interviews featuring the team of HEPHAISTOS-PHARMA in the available sources. However, the company's scientific founders, including Dr. Martine Caroff and Prof. Charles Dumontet, are prominent figures in their fields and may participate in industry-related discussions or events.
Conference and Fair Visits
HEPHAISTOS-PHARMA likely participates in conferences and fairs related to biotechnology and oncology, but specific details about these events are not available in the current sources. Participation in such events would provide opportunities for the company to present its research, network with peers, and promote its innovative approaches to cancer treatment.
Events and Involvement
Following its EIC Accelerator funding in June 2023, HEPHAISTOS-PHARMA would likely be involved in various industry events, though specific details are not provided. The company's involvement in events would focus on showcasing its engineered immune sensor modulators and engaging with stakeholders in the oncology sector.
Funding and Recent Developments
HEPHAISTOS-PHARMA has secured significant funding, including a recent round of €10.3 million, which includes both seed funding and non-dilutive grants from prestigious institutions like the EIC Accelerator. This funding supports the company's research and development efforts, particularly in advancing its drug candidate, HEPHA-440, which has been granted orphan drug designation for treating osteosarcoma.
Future Prospects
As HEPHAISTOS-PHARMA continues to progress with its immunotherapies, it is poised to make significant contributions to the field of oncology. The company's focus on "cold" tumors and its innovative approach to enhancing immune responses could lead to breakthroughs in treating cancers that are currently difficult to manage.
Sources
Do you need EIC Accelerator support?
Here is a list of the key service options for the EIC Accelerator:
Full Writing Service
All proposal sections are written by Stephan Segler, PhD.
Advisory Service
You write in-house but receive 1-on-1 support, templates, instructions, and reviews of all documents.
AI Writer & Training
A high-quality AI writer for EIC Accelerator Step 1 and a comprehensive Training program for Steps 1 and 2 including all templates and instructions.