1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support innovative startups and small and medium-sized enterprises (SMEs) with high-risk, high-potential projects. This program specifically focuses on deep-tech companies that require substantial investment to scale their innovations in the European market. The EIC Accelerator provides both grant funding and equity investments, making it a unique financial instrument designed to bridge the funding gap often faced by startups.

Funding Structure of the EIC Accelerator

Under the EIC Accelerator, companies can receive blended finance, which combines both grant funding and equity investments. The grant component can reach up to €2.5 million, aimed at supporting early-stage development and implementation of innovative solutions. This funding is designed to cover costs associated with research and development, prototyping, and initial market entry.

In addition to the grant, the EIC Accelerator provides equity investments, which have undergone adjustments over time. Until 2024, companies can access equity funding of up to €15 million. However, starting in 2025, this amount will be reduced to a maximum of €10 million. This equity investment is crucial for companies looking to scale their operations, allowing them to leverage private sector funding more effectively.

Purpose and Role in the Ecosystem

The primary purpose of the EIC Accelerator is to nurture the European deep-tech and startup ecosystem by providing vital financial support to companies that demonstrate significant technological innovation. The program is especially important for startups that often struggle to secure funding from traditional sources due to their high-risk nature. By providing both grant and equity options, the EIC Accelerator fosters an environment where innovative ideas can develop into commercially viable products and services.

Through this support, the EIC Accelerator plays a critical role in helping companies scale their operations. The program not only provides financial backing but also offers access to a network of investors, mentors, and industry experts, facilitating connections that can lead to further funding opportunities. This comprehensive support system is instrumental in enabling startups to transition from concept to commercialization, ultimately contributing to economic growth and job creation within the European Union.

EIC Accelerator Winner: Hooke Bio Ltd and Project MEra

Hooke Bio Ltd, based in Ireland, is a recent winner of the EIC Accelerator funding, specifically for their project titled "MEra" (Micro Era). The proposal was submitted on March 22, 2023, and subsequently won approval in the Step 3 interview phase of the EIC Accelerator process.

Project Overview: MEra

MEra is focused on ethical and accurate drug development, addressing the pressing need for more reliable and responsible methodologies in pharmaceutical research. The project aims to revolutionize how drugs are developed by leveraging innovative technological solutions that enhance the accuracy and efficiency of the drug discovery process.

Technology Basics and Background

The core technological innovation behind MEra involves advanced microfluidics and novel biomaterials designed to improve the precision of drug testing and development. Microfluidics refers to the manipulation of fluids at the microscale, allowing for the creation of highly controlled environments for biological experiments. This technology enables researchers to conduct experiments with smaller sample sizes and higher throughput, significantly accelerating the drug discovery timeline.

Additionally, MEra integrates machine learning algorithms to analyze data generated during drug testing. These algorithms can predict the efficacy and safety of drug candidates more accurately than traditional methods, thus reducing the reliance on animal testing and other less ethical practices. This dual approach not only enhances the ethical framework of drug development but also aligns with the growing demand for sustainable practices in the pharmaceutical industry.

In conclusion, the EIC Accelerator program serves as a pivotal mechanism in the European startup ecosystem, particularly for deep-tech companies like Hooke Bio Ltd. Through its blended financing model, it enables innovative projects like MEra to secure the necessary resources to advance drug development while promoting ethical practices in the industry. The success of such initiatives underscores the importance of targeted funding in fostering innovation and growth across Europe.

2 The Funding Rounds

Financing Raised by Hooke Bio Ltd Since EIC Accelerator Funding

Hooke Bio Ltd, based in Ireland, was awarded significant support through the European Innovation Council (EIC) Accelerator programme following the March 22, 2023 cut-off. Below is a comprehensive summary of publicly available information on their financing, funding rounds, investors, and related developments since that milestone.

---

EIC Accelerator Funding (June 2023)

• Amount Raised: Hooke Bio secured €5.5 million in blended finance from the Horizon Europe EIC Accelerator following their successful application and interview process.
• Funding Structure: The EIC Accelerator provides "blended finance"—a combination of grant funding and equity investment. While exact breakdowns are not specified for Hooke Bio individually in public sources, this typically includes both non-dilutive grants and direct equity investment via the EIC Fund.
• Timing: The award decision was announced publicly in June 2023 as part of results from the March 22, 2023 call.
• Purpose: Funds are specifically allocated to advance Hooke Bio's "Mera" drug screening platform—a microfluidic "body-on-a-chip" system designed to improve preclinical drug testing efficiency and reliability.

---

Previous Funding Rounds & Early Investment

Prior to winning the EIC Accelerator:

• Enterprise Ireland Commercialisation Funds: Pre-spin-out research at University of Limerick supported by two Commercialisation funds.
• Enterprise Ireland High Potential Start-Up (HPSU) Fund: Provided early-stage investment to facilitate company launch circa 2017.
• Angel Investors & Syndicates: Additional capital raised from Boole Investment Syndicate and Irrus Investments.
• Western Development Commission Investment Fund: Participated as an early-stage investor.
• In conjunction with a Disruptive Technologies Innovation Fund (DTIF) award received in 2019 (€1.9 million), these investments allowed Hooke Bio to establish operations at Shannon, Co. Clare.

---

Investor Information

Key known investors include: - Enterprise Ireland

• Supported through multiple programs including commercialisation funds and HPSU investments.
• Played an instrumental role in securing later EU funding.
• Angel syndicates:
• Boole Investment Syndicate
• Irrus Investments
• Western Development Commission

The most recent round’s blended finance structure also means that part ownership may now extend to the European Innovation Council’s investment arm—the EIC Fund—as part of its equity component.

---

Company Valuation

No explicit post-money or pre-money valuation for Hooke Bio has been disclosed publicly following this or prior rounds. However, it is standard practice that recipients of substantial EIC blended finance with an equity component undergo due diligence for valuation purposes; such figures sometimes emerge later when companies progress further or seek additional private financing.

---

Exit Events (IPO/Buyout/Acquisition)

As of May 5th, 2025:

There have been no announced exit events such as IPOs or acquisitions involving Hooke Bio Ltd since receiving their latest round of funding.

The company continues its focus on scaling up operations around its Mera platform using recently secured capital.

---

Summary Table: Key Developments Since March 22, 2023 Cut-Off

Date	Event	Amount	Type	Investors / Notes
June 2023	Horizon Europe/EIC Accelerator	€5.5m	Blended Finance	Horizon Europe/EIC Fund (+ ongoing Enterprise Ireland support)

</em>Blended Finance refers here to a mix of grant plus direct equity investment via EU mechanisms.

No subsequent disclosed rounds have occurred post-EIC win as per available public records up through May 2025.

Sources

Hooke Biotech's €5.5m EIC Boost for Drug Screening Revolution About – Hookebio Hooke Bio to receive European Innovation Council (EIC) Accelerator funding €18m funding win for four Enterprise Ireland client companies... EIC Accelerator winners and statistics March 2023 – Strata.team

3 The Press Releases

Hooke Bio, a Shannon, Ireland-based microfluidics company, received significant recognition and funding in 2023 through the European Innovation Council (EIC) Accelerator program. This funding is part of a broader initiative to support innovative SMEs across Europe, with Hooke Bio being one of the 51 selected companies out of 551 proposals submitted.

Company Overview

Hooke Bio specializes in developing high-throughput screening systems for preclinical drug discovery and personalized medicine. Their platform, known as Mera, utilizes 3D cell culture technology to provide more physiologically relevant results compared to traditional 2D techniques. This approach has the potential to significantly reduce animal testing and costs associated with drug development.

Funding and Impact

In 2023, Hooke Bio received €5.7 million in blended finance under the EIC Accelerator program. This funding will accelerate the development and market introduction of their Mera platform, enabling the company to have a positive impact on drug development processes worldwide. The support from Enterprise Ireland has been instrumental in Hooke Bio's success, as they have been a key player in guiding the company from its inception.

Technology Advancements

Hooke Bio's technology involves microfluidics that require very high throughput automated testing at small volumes. The Mera platform is designed to work with volumes of liquid significantly less than current systems, making it more efficient and cost-effective. The company's focus on drug combinations is highly adaptable, allowing for various applications in drug discovery.

Partnerships and Collaborations

Hooke Bio collaborates with organizations like CAPPA to enhance their technology. CAPPA has assisted in designing a bespoke imaging system that allows for multiplexed channel investigations, expanding Hooke Bio's testing capabilities to multiple cell lines and disease models.

Team Updates and Expansion

With the EIC funding, Hooke Bio aims to expand its team and grow its operations. The company has previously received seed funding and has been recognized with awards such as the EI Big Ideas award in 2017. The expansion is expected to enhance the company's capabilities in personalized medicine and further develop its screening technologies.

Press Releases and Updates

While specific press releases on Hooke Bio's website or social media are not detailed, the company's achievements and funding news are highlighted through external publications and announcements by Enterprise Ireland and the EIC. The company is open to strategic partnerships with pharma and biotech companies to advance its technology further.

Sources: - Hooke Bio to receive European Innovation Council (EIC) Accelerator funding

• EIC Accelerator winners and statistics March 2023
• €18m funding win for four Enterprise Ireland client companies in Horizon Europe EIC Accelerator
• Four Irish start-ups win funding at Horizon Europe's 2023 EIC Accelerator
• Disruptive Technologies Innovation Fund (DTIF) - Mera Project
• Hooke Bio
• Home - HookeBio

4 The Technology Advancements

Current Capabilities and Advancements of Hooke Bio Ltd

Hooke Bio Ltd, a microfluidics company based in Ireland, specializes in preclinical drug discovery and personalized medicine. Since receiving the European Innovation Council (EIC) Accelerator funding in March 2023, the company has made significant strides in advancing its technology and market presence.

Current Capabilities

• Microfluidics Technology: Hooke Bio's platform is designed for high-throughput screening with a focus on drug combinations, utilizing volumes of liquid significantly less than traditional systems.
• Mera Platform: The company's Mera platform employs 3D cell culture technology, providing more physiologically relevant results compared to traditional 2D methods. This technology aims to reduce reliance on animal testing and lower costs in drug development.
• Collaborative Approach: Hooke Bio collaborates closely with biologists and engineers to enhance its drug discovery capabilities.

Advancements Since EIC Funding

Following the receipt of €5.5 million in EIC funding, Hooke Bio has accelerated the development of its Mera platform, which is expected to transform the drug development process by offering a more humane and efficient alternative to traditional animal models.

• Scaling and Market Impact: The funding has enabled Hooke Bio to expedite the market introduction of its Mera platform, which could significantly reduce the time and cost associated with preclinical drug screening.
• Technological Enhancements: While specific new features or improvements in the technology since the funding have not been detailed, the company's focus remains on enhancing the scalability and effectiveness of the Mera platform.

Demonstrations and Trials

There is no publicly available information on Hooke Bio conducting specific customer demonstrations, pilot projects, or clinical trials with its technology since receiving the EIC funding. However, the company's technology has been recognized for its potential to replace animal models in drug screening, which suggests ongoing development towards practical applications.

Patents and Publications

Hooke Bio has published a paper on its Mera platform in SLAS Technology*, highlighting its potential for disrupting drug development processes. There is no recent information on new patent filings specifically since the EIC funding was received. However, Hooke Bio has a history of filing patents for its innovative technologies.

Conclusion

Hooke Bio's advancements since the EIC funding have been focused on accelerating the market readiness of its Mera platform, which holds significant potential for improving drug development efficiency and ethical standards. The company continues to leverage its innovative microfluidics technology to support personalized medicine and preclinical drug discovery.

Sources: - Hooke Bio at Antibody Engineering & Therapeutics Europe 2025

• Hooke Bio Executive Update - 21st Sept 2022
• Disruptive Technologies Innovation Fund (DTIF) - Mera Project
• Hooke Bio
• Hooke Bio
• Hooke Bio to receive European Innovation Council (EIC) Accelerator funding
• Hooke Bio Executive Update - 31st Jan 2023
• Hooke Biotechnology secures €5.5m from EIC Accelerator
• Limerick biotech innovator eyes another multi-million success
• €18m funding win for four Enterprise Ireland client companies in Horizon Europe EIC Accelerator

5 The Partnerships and Customers

Hooke Bio Ltd: Partnerships and Market Positioning Post-EIC Accelerator Funding Since securing EIC Accelerator funding in March 2023, Hooke Bio Ltd has advanced its mission to replace animal testing with 3D microtissue models through strategic collaborations and technological development. Below is an analysis of its partnerships, customer engagements, and market trajectory:

---

Collaborations and Customer Engagements

• Centre for Advanced Photonics and Process Analysis (CAPPA): Hooke Bio collaborates with CAPPA on optics and software integration for its proprietary "Mera" platform, enhancing high-throughput screening capabilities for drug discovery.
• NUI Galway: The company works with academic researchers at NUI Galway to refine organoid-based testing models, supported by the Disruptive Technologies Innovation Fund.
• Pharma/Biotech Partnerships: While specific customers remain undisclosed publicly, Hooke Bio actively seeks partnerships with pharmaceutical firms to validate its technology in preclinical studies.

---

Recent Developments (2023–2025)

• Antibody Engineering & Therapeutics Europe 2025: The company announced sponsorship of this Basel conference (June 10–12), aiming to showcase Mera’s applications in translational research.
• SLAS2024 Participation: In February 2024, Hooke Bio presented at SLAS International Conference in Boston as an Innovation AveNew exhibitor, highlighting advancements in automated microtissue analysis.

---

Strategic Market Positioning

Hooke Bio’s collaborations position it as a leader in alternatives to animal testing. By integrating academic expertise (CAPPA/NUI Galway) into product development, the company strengthens credibility within regulatory and biotech circles. Participation at high-profile industry events enhances visibility among potential clients seeking ethically compliant drug-testing solutions.

---

Technology Advancements and Scaling

The Mera system’s prototyping capabilities—enabled by in-house manufacturing tools—allow rapid iteration without outsourcing delays. This agility supports scalability for large-scale adoption by pharmaceutical partners. Continued funding from programs like Enterprise Ireland’s Commercialisation Fund ensures sustained R&D investment.

---

Sources

• Under the microscope: how Hooke Bio found success
• News & Events - Hookebio
• Hooke Bio - Technology Gateways

6 The Hiring and Company Growth

Overview of Hooke Bio Ltd

Hooke Bio Ltd, based in Ireland, is a biotech company that has been making significant strides in the industry, particularly after receiving the EIC Accelerator funding in March 2023. The company focuses on microfluidic engineering technologies to enhance drug discovery processes, aiming to accelerate the testing of novel drug combinations.

Current Team Size and Headcount

While the exact current headcount is not specified, Hooke Bio's team includes several key positions such as Dr. Mark Lyons as CEO, Dr. Finola Cliffe as COO, Prof. Mark Davies as Executive Chair & Founder, alongside several R&D engineers and scientists.

Hiring and Team Growth

There is no explicit information available about Hooke Bio currently hiring or the specific number of new positions created since the EIC funding. However, the company's growth and participation in events like the SLAS2024 conference indicate ongoing development and expansion.

Key Positions and Recent Hires

Recent information highlights the presence of Dr. Mark Lyons and Dr. Finola Cliffe in key roles, but there is no detailed information on recent hires.

Impact of New Team Members

The addition of experienced professionals in key positions helps Hooke Bio scale by bringing expertise that enhances its capabilities in microfluidic technologies and drug discovery. This expertise is crucial for developing innovative solutions and expanding the company's market presence.

Major Changes in Management or Founding Team

There are no reported major changes in the management or founding team since the EIC funding. Prof. Mark Davies remains a significant figure as the founder and Executive Chair, with Dr. Mark Lyons leading the company as CEO.

Growth and Future Prospects

Hooke Bio's focus on microfluidic technologies positions it for significant growth in the biotech industry. The company's ability to rapidly test drug combinations could revolutionize drug discovery processes, potentially eclipsing previous successes like Stokes Bio and GenCell. The EIC funding will likely play a crucial role in accelerating this growth by supporting further research and development.

Sources

• Hooke Bio: Media Archives
• HookeBio: Meet the Team
• Limerick Biotech Innovator Eyes Another Multi-Million Euro Biotech Success

7 The Media Features and Publications

Hooke Bio Ltd: Overview and Recent Developments

Hooke Bio Ltd, an innovative biotech company based in Shannon, Ireland, has been making significant strides in the field of biotechnology. Founded in 2014 by Professor Mark Davies, the company is renowned for developing a fully integrated high-throughput screening system for 3D microtissues, aiming to reduce animal models in preclinical studies and accelerate drug development.

Recent Funding and Recognition

Hooke Bio Ltd was recognized as an EIC Accelerator winner in March 2023, a prestigious award that underscores the company's groundbreaking work in biotechnology. This funding is expected to further enhance their capabilities in developing novel screening systems.

Media Features and Publications

While specific media features or publications that have named Hooke Bio Ltd are not detailed in the available information, the company's innovative approach to high-throughput screening has likely garnered attention in scientific and biotech publications. Their unique technology, known as "Mera," highlights their commitment to advancing drug development processes.

Podcasts and Interviews

There is no available information on podcasts or interviews involving the team of Hooke Bio Ltd. However, their leadership, including Dr. Mark Lyons and Prof. Mark Davies, are likely to be featured in industry discussions and interviews given their expertise and the company's innovative work.

Conference and Fair Visits

While specific details about Hooke Bio Ltd's participation in conferences or fairs are not provided, companies in this field often engage in such events to showcase their technologies and collaborate with other industry leaders.

Event Involvement

The company is open to collaborations and partnerships, indicating an active role in industry events and conferences aimed at advancing their technology and networking with pharmaceutical and biotech companies.

Team and Operations

Hooke Bio Ltd operates with a team of experienced professionals, including Dr. Finola Cliffe as COO and Prof. Mark Davies as Executive Chair & Founder. The company's focus on research and development is evident through its team composition, which includes several R&D engineers and scientists.

---

Sources:

• Home - HookeBio
• Hooke Bio Ltd | Irish Legal & Business Services Company & Director
• Hooke Bio company information, funding & investors | Dealroom.co
• HOOKE BIO LIMITED Overview | Company information
• Hooke Bio Ltd. Overview | SignalHire Company Profile
• Meet our team of experts - HookeBio