1 The EIC Accelerator Project

The European Innovation Council (EIC) Accelerator program is a key funding initiative aimed at supporting innovative startups and small and medium-sized enterprises (SMEs) in Europe. It provides a unique blended finance approach, combining grants and equity investments to facilitate the development and scaling of breakthrough technologies and solutions, particularly in deep tech sectors.

Grant and Equity Funding

Under the EIC Accelerator program, companies can receive substantial financial support. The program offers grants of up to €2.5 million, which are typically used to cover costs related to product development, market entry, and scaling operations. These grants are non-repayable, providing crucial early-stage funding to help companies validate their innovations without the immediate pressure of financial returns.

In addition to grants, the EIC Accelerator offers equity funding, which has evolved over time. Until 2024, eligible companies can receive up to €15 million in equity investment, while from 2025 onward, this amount will be limited to €10 million. This equity component not only provides financial support but also signals investor confidence in the company’s potential for growth, thereby facilitating additional funding from private investors.

Purpose in the European DeepTech Ecosystem

The EIC Accelerator plays a vital role in the European deep tech and startup ecosystem by providing necessary resources that enable innovation to flourish. It aims to bridge the funding gap that often exists in the early stages of technology development when risks are high and traditional funding sources may be reluctant to invest. By offering a combination of grants and equity, the program encourages risk-taking and innovation, driving advancements in crucial sectors such as healthcare, energy, and digital technology.

The accelerator also serves as a catalyst for startups to scale their operations and attract private sector investments. By validating their technologies through the EIC funding, companies can enhance their credibility and appeal to private investors, thereby establishing a robust foundation for future growth.

Case Study: HERANTIS PHARMA OYJ and Project ReTreatPD

HERANTIS PHARMA OYJ, a Finnish biotechnology company, emerged as a winner of the EIC Accelerator program with its project titled ReTreatPD. This groundbreaking initiative focuses on developing a revolutionary therapeutic treatment aimed at halting the progression of Parkinson's disease, a neurodegenerative disorder that affects millions worldwide.

Project Overview: ReTreatPD

ReTreatPD is designed to address the unmet medical needs of patients suffering from Parkinson's disease. Current treatments primarily manage symptoms rather than alter the disease's trajectory, resulting in a significant burden on patients and healthcare systems. HERANTIS PHARMA's innovative approach targets the underlying mechanisms of the disease, offering potential disease-modifying properties.

Technology Background

The technological foundation of ReTreatPD revolves around novel therapeutic agents designed to target specific pathways involved in neurodegeneration. The project leverages advanced drug delivery systems that enhance the bioavailability of therapeutics directly to the brain, thus improving efficacy. By utilizing innovative formulations and delivery techniques, HERANTIS aims to create a treatment that not only alleviates symptoms but also slows down or stops the progression of the disease.

This approach is grounded in extensive research into the pathophysiology of Parkinson's disease, including the role of neuroinflammation and protein aggregation. HERANTIS's development process involves rigorous preclinical and clinical testing to ensure safety and efficacy, positioning the company as a frontrunner in the quest for effective Parkinson's disease treatments.

In summary, the EIC Accelerator program, through its blended finance model, provides critical support to innovative companies like HERANTIS PHARMA OYJ. By funding transformative projects such as ReTreatPD, the EIC Accelerator fosters the development of cutting-edge solutions that have the potential to significantly impact public health and advance the European deep tech landscape. HERANTIS's focus on halting the progression of Parkinson's disease reflects the program's overarching goal of promoting groundbreaking innovations that address pressing societal challenges.

2 The Funding Rounds

# Herantis Pharma: EIC Accelerator Funding and Financial Journey

Herantis Pharma, a Finnish clinical-stage biotechnology company, has successfully secured significant funding through the European Innovation Council (EIC) Accelerator program and other investment rounds to advance its neurodegenerative disease therapies, particularly its lead asset HER-096 for Parkinson's disease.

EIC Accelerator Funding

Herantis Pharma obtained a €2.5 million grant from the European Innovation Council (EIC) Accelerator in 2023. The funding is being distributed in installments:

• First payment tranche of €1.4 million received in May 2023
• Second milestone payment of €0.75 million received in June 2024

The EIC Accelerator project started in May 2023 and will continue until 2025, supporting Herantis' development of HER-096 in Parkinson's disease, including biomarker development for monitoring target engagement and treatment response.

EIC Fund Equity Investment

Beyond the grant funding, Herantis secured a significant commitment from the EIC Fund:

• Term sheet signed in July 2023 for direct equity investments of up to €15 million
• The EIC Fund agreed to participate in future capital raises with up to 1/3 of the aggregate capital raised
• First investment of approximately €1.5 million made in December 2023 as part of a directed share issue

Recent Funding Rounds

December 2023 Directed Share Issue

• Total amount raised: €4.5 million (gross proceeds)
• 3,219,139 new shares issued at a subscription price of €1.40 per share
• EIC Fund participated with approximately €1.5 million (1/3 of the total)
• Attracted several new shareholders while maintaining support from existing investors

February 2025 Directed Share Issue

• Total amount raised: €5.2 million (gross proceeds)
• 3,934,084 new shares issued
• Completed on February 6, 2025

Additional Funding and Financial Support

Herantis has secured other significant financial support:

• In July 2024, The Michael J. Fox Foundation for Parkinson's Research (MJFF) and The Parkinson's Virtual Biotech committed €3.6 million to finance Herantis' Phase 1b clinical trial of HER-096 in Parkinson's disease and ongoing biomarker projects
• Business Finland waived €4,495,649 of loans previously granted to Herantis for the development of CDNF (Cerebral Dopamine Neurotrophic Factor) in September 2023, decreasing long-term debt and increasing equity by the corresponding amount

Clinical Development Progress

The funding has enabled Herantis to advance its clinical development program:

• Phase 1b clinical trial of HER-096 in Parkinson's disease patients:
• Clinical Trial Application approved in September 2024
• HER-096 dosing started in October 2024
• Successful completion of Part 1 of the Phase 1b clinical trial in November 2024
• First Parkinson's disease patient dosed in Part 2 of the Phase 1b trial in January 2025
• Encouraging pharmacokinetic data reported from Part 1 of the trial in January 2025

Business Outlook

Herantis is actively pursuing partnership opportunities:

• The company is focusing on finding a global pharmaceutical partner for clinical development and commercialization of HER-096
• The positive clinical results and strong financial backing have promoted partnership discussions
• Management noted that 2025 will be "an exciting year" for the company

Herantis has not publicly disclosed any plans for an IPO or acquisition events at this time, focusing instead on advancing its clinical programs and securing strategic partnerships.

Sources: - Annual Report 2024 | Herantis Pharma

• Full Year Financial Report January 1 – December 31, 2023
• Herantis Pharma Plc successfully completes a directed share issue
• Herantis Pharma - Annual Report 2023
• First Half Report January 1 – June 30, 2023 - Herantis Pharma

3 The Press Releases

Herantis Pharma: Post-EIC Accelerator Funding Developments Since receiving EIC Accelerator funding in October 2022, Herantis Pharma has advanced its clinical programs and strengthened its intellectual property portfolio. Below are key updates from press releases and official communications:

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Clinical Trial Progress for HER-096

Herantis’ lead candidate, HER-096, a CDNF-derived peptidomimetic molecule, achieved critical milestones in its Phase 1b trial:

• Pharmacokinetic Breakthrough: A single 300 mg subcutaneous dose in healthy subjects demonstrated cerebrospinal fluid (CSF) concentrations exceeding preclinical targets (50–100 ng/ml), with extended CSF exposure supporting a dosing regimen of 2–3 times weekly.
• Parkinson’s Patient Dosing: Part 2 of the Phase 1b trial commenced in January 2025, focusing on safety and tolerability in Parkinson’s patients. Topline data is expected by Q3 2025.

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Intellectual Property and Partnerships

• Non-Invasive CDNF Program: Herantis holds exclusive global rights to a modified CDNF therapy developed via a licensing agreement with the University of Helsinki (2018), aimed at broadening applications beyond direct brain delivery.
• MANF Patent: The U.S. patent (No. 9,592,270) for MANF’s therapeutic use covers neurological conditions like Parkinson’s and epilepsy, complementing their CDNF-focused pipeline.

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Corporate Updates

• Annual General Meeting (AGM): Held on April 24, 2025, addressing governance and strategic priorities.
• (No Recent Social Media Mentions Identified)

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Sources Used

Press release: HER-096 Phase Ib update | PipelineReview coverage | 2018 Licensing Agreement | MANF Patent Release | AGM Notice

Note: No press releases directly referencing EIC Accelerator funding found on herantis.com or third-party sources post-Q4 2022; updates focus on clinical progress.

4 The Technology Advancements

Herantis Pharma Oyj Overview and Recent Advancements

Herantis Pharma Oyj, a Finnish clinical-stage biotechnology company, focuses on developing disease-modifying therapies for neurodegenerative diseases, particularly Parkinson's disease. Since receiving the European Innovation Council (EIC) Accelerator funding in October 2022, Herantis has made significant advancements in its research and development efforts.

Current Capabilities

Herantis Pharma is listed on the Nasdaq First North Growth Market Finland and has been actively developing its lead product, HER-096. This advanced small synthetic chemical peptidomimetic molecule is designed based on the active site of the CDNF protein, offering a compelling mechanism of action combined with the convenience of subcutaneous administration.

Recent Advancements

Clinical Trials and Funding:

• HER-096 Phase 1b Clinical Trial: Herantis successfully initiated and progressed its Phase 1b clinical trial for HER-096 in Parkinson's disease. The trial started in September 2024 and completed the first part, providing encouraging pharmacokinetic data. The second part involves administering HER-096 to patients with Parkinson's disease for the first time, focusing on safety and tolerability.
• EIC Accelerator Grant: Herantis secured a EUR 2.5 million grant from the EIC Accelerator program for its ReTreatPD project, focusing on preparations for a Phase 2 study and biomarker development.
• Additional Funding: The company received EUR 3.6 million in research funding from The Michael J. Fox Foundation and Parkinson’s Virtual Biotech for the Phase 1b trial and biomarker project.

Scientific Contributions:

A publication in Nature Communications highlighted the structural rationale of HER-096's design, linking CDNF's neuroprotective activity to its interaction with GRP78 protein.

Technology Improvement and Market Demonstration

Herantis has demonstrated its technology through clinical trials, specifically with the ongoing Phase 1b trial of HER-096. The trial assesses the safety and tolerability of HER-096 in Parkinson's patients, with topline data expected in Q3 2025.

New Patents and Publications

While no specific new patent filings are mentioned since the EIC funding, Herantis has published scientific contributions, such as the structural rationale of HER-096 in Nature Communications. Clinical trial results and pharmacokinetic data have been shared, contributing to the scientific understanding of HER-096's potential.

Conclusion

Herantis Pharma has leveraged its EIC Accelerator funding effectively by advancing its clinical trials, securing additional funding, and contributing to scientific literature. These efforts position Herantis as a promising player in the development of disease-modifying therapies for Parkinson's disease.

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Sources

• Herantis Pharma - Innovative therapies for better lives
• Annual Report 2024
• Company and Press Releases - Herantis Pharma
• Company Presentation - Herantis Pharma
• Herantis Pharma: encouraging pharmacokinetic data and first subject with Parkinson’s disease dosed in the Phase 1b trial
• Herantis Pharma releases 2H and FY 2024 report today - MFN.se
• Herantis Pharma receives milestone payment of EUR 750,000 from European Innovation Council
• Herantis Pharma releases 2H and FY 2024 report today - Inderes.dk
• Clinical trials - Herantis Pharma
• Current partnerships - Herantis Pharma

5 The Partnerships and Customers

Herantis Pharma Oyj: Partnerships and Developments

Herantis Pharma Oyj, a Finnish clinical-stage biotechnology company, received funding from the European Innovation Council (EIC) Accelerator in October 2022. Since then, the company has made significant strides in developing disease-modifying therapies for Parkinson's disease, particularly with its lead drug candidate, HER-096.

Partnerships

Herantis has established several key partnerships to advance its HER-096 program. Notably, the company has collaborations with leading Parkinson's charities such as the Michael J. Fox Foundation and Parkinson's UK, which are financing the Phase 1b clinical trial of HER-096. These partnerships highlight the potential of HER-096 as a groundbreaking therapy for Parkinson's disease.

Herantis also works with Medfiles, a clinical research organization, which has been involved in managing clinical trials for Herantis since 2009. Medfiles handles tasks such as trial monitoring, project management, and pharmacovigilance activities.

In 2023, Herantis signed a term sheet with the EIC Fund, allowing for up to EUR 15 million in direct equity investments. This investment positions the EIC Fund as a significant shareholder in Herantis, participating in future capital raises.

New Relationships

The new relationships with the EIC Fund and Parkinson's charities mark important developments for Herantis. These partnerships not only provide financial support but also underscore the potential impact of HER-096 in treating Parkinson's disease.

Market Positioning

Herantis' partnerships will enhance its market position by demonstrating the company's commitment to innovative therapies for neurodegenerative diseases. The involvement of prominent organizations like the Michael J. Fox Foundation and Parkinson's UK lends credibility to Herantis' research and development efforts.

Technology Advancements and Scaling

The collaborations and funding will facilitate technology advancements by supporting the development of biomarkers for monitoring target engagement and treatment response to HER-096. This is crucial for preparing for a Phase 2 clinical study. Additionally, the financial backing will help scale Herantis' operations, enabling the company to accelerate its clinical trials and potentially secure significant partnership agreements with pharmaceutical companies.

The relationships with the EIC Fund and Parkinson's charities will also help Herantis in future capital raises, ensuring financial stability and resources needed for advancing its drug candidates through clinical trials.

Conclusion

Herantis Pharma Oyj's partnerships and funding since October 2022 have significantly enhanced its capacity to develop innovative therapies for Parkinson's disease. The collaborations with major Parkinson's charities and the EIC Fund position Herantis as a leader in the field, poised for further growth and technological advancements.

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Sources: - Herantis Pharma - Annual Report 2023

• Current partnerships - Herantis Pharma
• Annual Report 2022 - Herantis Pharma
• Annual Report 2024 | Herantis Pharma
• Full Year Financial Report January 1 – December 31, 2023
• Herantis Pharma releases 2H and FY 2024 report today
• Herantis & Medfiles: 15 years of collaboration in clinical trials

6 The Hiring and Company Growth

Herantis Pharma Oyj: Team Dynamics and Growth Post-EIC Accelerator Funding Since securing EIC Accelerator funding in October 2022, Herantis Pharma has maintained a lean operational structure while advancing its clinical programs. As of December 2024, the company reported 11 employees, reflecting a slight increase from 10 in the prior year. The management team during this period comprised CEO Antti Vuolanto, CSO Henri Huttunen (co-founder), and CFO Tone Kvåle, with no recent changes to executive leadership or founding team composition noted.

The company’s modest headcount aligns with its clinical-stage focus, prioritizing resource allocation toward its lead candidate HER-096, a subcutaneous therapy for Parkinson’s disease currently in Phase 1b trials. While specific hiring campaigns or new key positions are not detailed in public filings, the streamlined team emphasizes efficiency, supported by external partnerships and charity-funded trials.

Herantis’ growth strategy appears centered on clinical milestones rather than rapid team expansion. The April 2025 AGM reaffirmed confidence in existing leadership by re-electing all five Board members: Timo Veromaa (Chair), Mats Thorén, Frans Wuite, Aki Prihti, and Hilde Furberg. This stability suggests continuity in governance as Herantis advances toward potential Phase 2 readiness for HER-096, which could necessitate future scaling of operational capabilities.

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Sources

• Annual Report 2024 | Herantis Pharma
• Decisions of Herantis Pharma Plc's Annual General Meeting
• Herantis Company Presentation January 2025

7 The Media Features and Publications

Herantis Pharma OYJ: Media, Publications, and Event Engagement Herantis Pharma OYJ, a Finnish clinical-stage biotechnology company focused on Parkinson’s disease therapies, has maintained active visibility through clinical updates, investor communications, and industry events. While specific EIC Accelerator-related announcements are not publicly detailed in the provided materials, the company's recent activities highlight its engagement with stakeholders.

Media Features & Publications

The company’s progress is frequently covered by investor platforms like Inderes, which provides analyst reports and financial analyses. Clinical milestones, such as the Phase 1b trial update for HER-096 in January 2025, are disseminated via press releases on Cision News and the company’s website. Herantis emphasizes neurodegenerative disease research in its communications, aligning with its mission to develop disease-modifying therapies.

Podcasts & Interviews

No direct references to podcasts or interviews were found in available materials. However, Herantis participates in investor-focused events (e.g., Inderes Investor Day) where leadership likely engages in Q&A sessions.

Conference Participation & Presentations

Herantis maintains a robust presence at biotech and life science conferences:

• BioEquity Europe (May 2025): Networking with European biotech investors.
• Nordic Life Science Days (October 2025): Showcasing pipeline advancements.
• Bio Europe (November 2025): Partnering discussions for global drug development opportunities.

The company also shares historical presentations online for investor transparency but does not update them post-event.

Event Involvement

Upcoming engagements include:

• Inderes Equity Investors Week – Healthcare (September 2025)
• Inderes Life Science Night (December 2025)

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Sources
Cision News - Herantis Pharma | Herantis Company Website | Inderes Financial Analysis | Phase 1b Trial Update | Event Calendar