1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. The program aims to facilitate the transition from research to market, particularly focusing on deep-tech innovations that have the potential to make significant impacts in various sectors, including health, energy, and technology.

Funding Structure

The EIC Accelerator offers a unique blend of grant and equity financing, providing a comprehensive funding solution for startups and SMEs. The grant component can reach up to €2.5 million, intended to cover costs related to research, development, and innovation activities. This funding helps companies to mitigate financial risks while working on breakthrough technologies.

In addition to grants, the EIC Accelerator also provides equity financing. Until 2024, this equity can go up to €15 million, which is essential for scaling operations and enhancing market readiness. From 2025 onwards, this equity limit will be adjusted to up to €10 million. This dual approach of blended finance allows companies to access crucial funding at different stages of their development while maintaining some ownership stake.

Purpose and Impact

The primary purpose of the EIC Accelerator is to foster innovation and facilitate the scaling of high-potential startups within the European ecosystem. By providing financial support, the program helps companies bridge the funding gap often faced in the early stages of development. Furthermore, the EIC Accelerator encourages private sector investment by demonstrating a commitment to the viability of innovative projects. This, in turn, attracts additional funding from venture capitalists and other private investors who recognize the potential for growth and profitability.

Case Study: Impact Biotech Ltd.

Company Overview
Impact Biotech Ltd. is an innovative Israeli biotech firm that has recently emerged as a winner of the EIC Accelerator program. The company focuses on developing cutting-edge therapies for cancer treatment, particularly through its project titled "IMPACT," which stands for Immune Photo-Activated Cancer Therapy.

Project Overview
The IMPACT project is centered on the development of an Immune Photo-Activated Cancer Therapy designed specifically for the treatment of Upper Tract Urothelial Cancer (UTUC) and other solid tumors. The project aims to harness the power of the immune system in conjunction with photo-activated technologies to achieve targeted cancer treatment, minimizing side effects and improving patient outcomes.

Technology Basics and Background

The technology underpinning Impact Biotech's IMPACT project is innovative and multifaceted. At its core, the therapy combines immunotherapy with photo-activation—a method that uses light to activate a therapeutic agent. This approach is designed to selectively target cancer cells while sparing healthy tissue, thereby reducing collateral damage commonly associated with traditional cancer treatments.

The methodology involves the use of photosensitizers, which are compounds that become activated upon exposure to specific wavelengths of light. Once activated, these compounds can induce cell death in cancerous cells through various mechanisms, including the generation of reactive oxygen species (ROS). The activated immune system is then primed to recognize and attack the remaining cancer cells, enhancing the overall therapeutic effect.

The potential applications of this technology extend beyond UTUC, with possibilities for treating various other solid tumors. This versatility is crucial in the ever-evolving landscape of oncology, where personalized medicine and targeted therapies are becoming increasingly important.

Conclusion

The EIC Accelerator program serves as a vital catalyst for innovation within the European startup ecosystem, particularly in the deep-tech sector. By providing a blend of grant and equity funding, the program enables companies like Impact Biotech Ltd. to develop groundbreaking solutions that address critical healthcare challenges. As demonstrated by the IMPACT project, the combination of advanced technology and strategic funding can lead to significant advancements in cancer treatment, ultimately improving patient outcomes and reshaping the future of oncology.

2 The Funding Rounds

Financing Raised

ImPact Biotech Ltd., an Israeli clinical-stage biotechnology company, secured a significant financing round in July 2024 by receiving a €13.5 million investment commitment from the European Innovation Council’s (EIC) Accelerator program. This funding consists of a €2.5 million grant and a conditional equity investment of up to €11 million.

Prior to this EIC Accelerator funding, ImPact Biotech had raised at least $2.7 million in total funding according to publicly available startup databases. There are no indications of additional major private or venture-backed rounds before the EIC award.

Funding Rounds: Timing and Amounts

• July 24, 2024: ImPact Biotech announced its most substantial financing event—a €13.5M commitment from the EIC Accelerator program, split into:
• €2.5M as non-dilutive grant
• Up to €11M as conditional equity investment
• Before July 2024: The company had secured $2.7M in earlier-stage funding prior to entering the pre-funding stage referenced on public platforms; details about investors or specific timing are not disclosed for this earlier round.

No other discrete rounds (such as Series A/B/C) have been reported for ImPact Biotech Ltd.

Investor Information

The main investor since March 2024 is the European Innovation Council (EIC), which provided both grant and equity-style support via its Accelerator scheme focused on breakthrough European innovations. No other institutional or venture capital investors are listed in connection with recent major rounds.

There is no evidence that traditional VC firms or private equity funds participated alongside the EIC injection.

Company Valuations

No official post-money valuation has been disclosed following these funding events, nor has any market capitalization figure been published by credible sources as of May 2025. Given that part of the EIC award is a convertible equity component, it is probable that valuation will depend on future milestones but remains undisclosed at this stage.

Exit Events: IPOs, Buyouts, Acquisitions

As of May 6, 2025:

• There have been no IPOs involving ImPact Biotech Ltd.
• There have been no buyouts or acquisition events reported.

The company remains privately held and continues advancing clinical programs using funds from its latest financing round.

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Sources

• ImPact Biotech Receives a €13.5M Investment Commitment from the European Innovation Council's Accelerator Program
• ImPact Biotech - Startup Nation Finder
• ImPact Biotech Receives a €13.5M Investment Commitment from GlobeNewswire

3 The Press Releases

Impact Biotech Ltd. Overview

Impact Biotech Ltd., an Israeli-based clinical-stage biotechnology company, has been making significant strides in the field of oncology. The company is focused on developing Padeliporfin vascular targeted photodynamic (VTP) therapy, a novel approach aimed at treating a range of solid tumors through a minimally invasive drug-device combination.

EIC Accelerator Funding

In July 2024, Impact Biotech received a substantial investment commitment of €13.5 million from the European Innovation Council's (EIC) Accelerator program. This funding includes a grant of €2.5 million and a conditional equity investment of up to €11 million. The support from the EIC underscores the potential of Padeliporfin VTP as a groundbreaking treatment option for unresectable solid tumors.

Clinical Trials and Research

Impact Biotech is currently advancing Padeliporfin VTP through its ongoing Phase 3 ENLIGHTED trial, targeting low-grade upper tract urothelial cancer (UTUC). The company also plans to extend its research into high-grade UTUC, pancreatic ductal adenocarcinoma (PDAC), and non-small cell lung cancer (NSCLC). Collaborations with renowned institutions like the Weizmann Institute of Science and Memorial Sloan Kettering Cancer Center further enhance its research capabilities.

Operations and Presence

With operations spanning across the EU, Israel, and the US, Impact Biotech is well-positioned to leverage its innovative technology on a global scale. The company's strategic partnerships and funding support are pivotal in transforming it into a leading player in the oncology sector.

Technology and Innovation

The Padeliporfin VTP platform utilizes non-thermal laser light delivered via optical fibers to selectively ablate unresectable solid tumors. This approach offers promising results in fulfilling unmet patient needs across various cancer types, based on encouraging initial clinical efficacy and safety findings from ongoing trials.

Recent Developments and Future Outlook

Impact Biotech's success in securing EIC funding highlights the company's commitment to advancing cancer treatments. With plans to share additional interim analysis from the ENLIGHTED trial later in the development cycle, Impact Biotech continues to be at the forefront of innovative oncology solutions.

Sources

• ImPact Biotech Receives a €13.5M Investment Commitment from the European Innovation Council's Accelerator Program
• ImPact Biotech Receives a €13.5M Investment Commitment from the European Innovation Council's Accelerator Program

4 The Technology Advancements

Current Capabilities and Advancements of ImPact Biotech Ltd.

ImPact Biotech Ltd., a clinical-stage biotechnology company based in Israel, has been at the forefront of developing Padeliporfin Vascular Targeted Photodynamic (VTP) therapy. This innovative treatment is designed for the selective ablation of unresectable solid tumors, utilizing a minimally invasive drug-device combination. Since receiving the European Innovation Council (EIC) Accelerator funding on March 13, 2024, the company has made significant advancements in its technology and clinical trials.

Key Advancements

• ImPact Biotech has continued to progress with the ENLIGHTED Phase 3 study, evaluating Padeliporfin VTP in patients with low-grade upper tract urothelial cancer (UTUC). The company presented updated preliminary results from this study at the American Urological Association's 2025 Annual Meeting, highlighting a complete response rate of 79% in evaluable patients who completed the Induction Treatment Phase.
• Additionally, long-term follow-up data from the PCM-204 Phase 2b trial for intermediate-risk prostate cancer demonstrated robust durability of response up to 48 months post-treatment.

The Padeliporfin VTP platform delivers non-thermal laser light via optical fibers to activate Padeliporfin in the tumor microenvironment, offering a promising non-invasive treatment option for various solid tumors. There is no specific mention of new features added since the EIC funding, but the ongoing trials suggest continued refinement of the existing technology.

ImPact Biotech's advancements have been primarily within clinical trials. The company is actively recruiting for the ENLIGHTED study and anticipates completing enrollment in mid-2025. This indicates a strong focus on clinical validation rather than immediate market demonstration with customers or commercial pilots.

While there is no recent information on new patents filed, ImPact Biotech has been actively engaged in publishing updated efficacy data from ongoing clinical trials, reinforcing the safety and efficacy profile of Padeliporfin VTP. The company's participation in major conferences like the AUA 2025 suggests a commitment to sharing scientific findings and advancing clinical research.

Conclusion

ImPact Biotech Ltd. has leveraged the EIC Accelerator funding to further its research into Padeliporfin VTP, focusing on clinical validation and demonstrating significant progress in treating low-grade UTUC and intermediate-risk prostate cancer. The company's advancements underscore its position as a leader in innovative oncology treatments.

Sources

• ImPact Biotech Announces New Data Presentations at AUA 2025
• ImPact Biotech Presents Updated Efficacy Data from Evaluation of Padeliporfin VTP in LG UTUC and Intermediate-Risk Prostate Cancer at AUA 2025
• ImPact Biotech Receives a €13.5M Investment Commitment from the European Innovation Council's Accelerator Program

5 The Partnerships and Customers

ImPact Biotech Ltd., an Israel-based clinical-stage oncology company, has maintained strategic academic and clinical partnerships since receiving EIC Accelerator funding in March 2024. The company’s collaborations and operational updates focus on advancing its Padeliporfin Vascular Targeted Photodynamic (VTP) therapy platform for solid tumors.

Partnerships and Collaborations

Academic Institutions: ImPact Biotech holds long-standing collaborations with the Weizmann Institute of Science (Israel) and Memorial Sloan Kettering Cancer Center (US), which underpin its preclinical and clinical research efforts. These relationships provide access to cutting-edge research facilities, translational expertise, and validation of its VTP technology across multiple tumor types.

Clinical Trial Networks: The company’s ongoing ENLIGHTED Phase 3 trial for low-grade upper tract urothelial carcinoma (UTUC) leverages global clinical sites, though specific institutional partners are not publicly disclosed. Preliminary results presented at the AUA 2025 Annual Meeting demonstrated a 79% complete response rate in evaluable UTUC patients.

Market Positioning and Technological Advancements

ImPact’s partnerships enhance its credibility in minimally invasive oncology therapies, positioning it as a leader in organ-sparing treatments for localized solid tumors. The Weizmann Institute collaboration supports mechanistic insights into VTP’s tumor-selective ablation, while Memorial Sloan Kettering contributes to clinical protocol optimization. These relationships accelerate regulatory milestones and expand the therapeutic scope of Padeliporfin VTP into high-grade UTUC, pancreatic ductal adenocarcinoma, and non-small cell lung cancer.

Scaling Operations

The company operates across the EU, Israel, and the US, utilizing partner networks to streamline multicenter trials like ENLIGHTED. No new customer or commercial partnerships were explicitly announced post-EIC funding; however, recent data presentations at AUA 2025 aim to attract potential collaborators by highlighting durable responses in prostate cancer (48-month follow-up) and UTUC efficacy.

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Sources

• ImPact Biotech Announces New Data Presentations at AUA 2025
• ImPact Biotech Presents Updated Efficacy Data from Evaluation of Padeliporfin VTP

6 The Hiring and Company Growth

ImPact Biotech: Recent Developments and Team Growth

ImPact Biotech, a clinical-stage oncology company based in Israel, has been focused on the development and commercialization of Padeliporfin Vascular Targeted Photodynamic (VTP) therapy since receiving the EIC Accelerator funding in March 2024. Here is an overview of the company's recent developments and team growth:

Current Headcount and Team Size

The current headcount and specific team size of ImPact Biotech are not explicitly mentioned in available sources. However, the company is led by a management team including Barak Palatchi (CEO), Orit Schwartz (Global Head of Technical Operations), Eyal Morag (Chief Medical Officer), Guy Schmidt (Global Head of Business Development), and Roei Sella (CFO).

Hiring and Recruitment

There is no specific information available on whether ImPact Biotech is currently hiring. However, the company's ongoing clinical trials and development projects suggest a potential need for additional talent in research and development, clinical operations, and regulatory affairs.

Growth and Development

Since receiving the EIC Accelerator funding, ImPact Biotech has continued to advance its Padeliporfin VTP therapy. The company has presented significant updates on its trials, including a Phase 3 study for low-grade upper tract urothelial cancer (UTUC) and Phase 2b trial results for intermediate-risk prostate cancer. These developments indicate substantial growth in the company's clinical pipeline and strategic partnerships.

Key Positions and New Team Members

While specific recent hires are not detailed, the leadership team's roles suggest that any new team members would be crucial in driving forward the company's clinical trials and commercialization efforts. New team members would likely contribute to scaling the organization, particularly in roles related to clinical operations, regulatory affairs, and business development.

Management and Founding Team Changes

There are no reported major changes in the management or founding team of ImPact Biotech since the EIC Accelerator funding.

Future Implications

The addition of new team members and the advancement of Padeliporfin VTP therapy are critical for ImPact Biotech's future growth. These developments are expected to enhance the company's ability to scale and expand its operations across various tumor indications, reinforcing its position as a promising player in the oncology sector.

Sources

• ImPact Biotech Announces New Data Presentations at AUA 2025
• ImPact Biotech - Startup Nation Finder
• About us ImPact Biotech
• ImPact Biotech Presents Updated Efficacy Data from Evaluation of Padeliporfin VTP in LG UTUC and Intermediate-Risk Prostate Cancer at AUA 2025

7 The Media Features and Publications

ImPact Biotech Ltd.: Media Presence and Event Engagement Post-EIC Accelerator Funding

Since securing EIC Accelerator funding in March 2024, ImPact Biotech Ltd., an Israeli clinical-stage oncology company, has maintained visibility through corporate presentations and industry engagements. Below is a synthesis of their public activities:

• Media Features & Publications: While no direct media articles are listed in available sources, the company’s website emphasizes its mission to develop Padeliporfin Vascular Targeted Photodynamic (VTP) therapy for solid tumors.
• Podcasts & Interviews: No confirmed podcast appearances by ImPact Biotech’s team were identified. However, industry podcasts like The Biotech Startups Podcast and Biotech Hangout frequently feature oncology innovators, though ImPact is not explicitly mentioned in available episodes.
• Conference Participation:
• Oppenheimer Private Life Sciences Showcase (October 2024): CEO Barak Palatchi presented Padeliporfin VTP’s Phase 3 progress for upper tract urothelial carcinoma (UTUC) and outlined pipeline plans for pancreatic and lung cancers.
• Collaborations with institutions like Weizmann Institute of Science and Memorial Sloan Kettering were highlighted during events.

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Sources

• ImPact Biotech Official Website
• ImPact Biotech at Oppenheimer Showcase
• BioCentury Company Profile