1 The EIC Accelerator Project

Understanding the EIC Accelerator Program

The EIC Accelerator program, a key initiative of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. This program aims to foster the development of breakthrough technologies and high-impact innovations, particularly in the DeepTech sector. The EIC Accelerator provides substantial financial assistance through a combination of grants and equity investments, specifically tailored to help startups navigate the challenging landscape of technological development and commercialization.

Funding Structure: Grants and Equity

The EIC Accelerator offers a blended finance model that includes a grant component of up to €2.5 million, which can be utilized for activities such as prototyping, testing, and scaling innovations. This grant is particularly valuable for early-stage companies, as it provides non-dilutive funding that can mitigate financial risks associated with the development of novel technologies.

In addition to the grant, the EIC Accelerator also offers equity funding. Until 2024, this equity investment can reach up to €15 million, while from 2025 onwards, the maximum equity support is set at €10 million. This equity funding is crucial for startups seeking to leverage private investment, as it provides the necessary capital to scale operations, enter new markets, and accelerate growth.

Purpose within the European DeepTech and Startup Ecosystem

The EIC Accelerator serves a dual purpose within the European DeepTech and startup ecosystem. Firstly, it aims to bridge the funding gap that often exists for innovative ventures in Europe. Many startups struggle to access sufficient capital from private investors, especially during the early stages of development. By providing both grants and equity investments, the EIC Accelerator alleviates this financial barrier, enabling startups to focus on innovation.

Secondly, the program encourages collaboration between startups and established companies, research institutions, and investors. By facilitating connections within the ecosystem, the EIC Accelerator fosters an environment conducive to innovation, helping startups mature and scale effectively.

Role in Scaling Companies and Securing Private Funding

The EIC Accelerator plays a pivotal role in helping companies scale by providing them with the necessary resources to refine their technologies and validate their business models. The combination of grant funding and equity investment not only supports immediate development needs but also enhances the attractiveness of these startups to private investors.

With the backing of the EIC Accelerator, companies are oftentimes better positioned to secure additional funding from venture capital and private equity sources. This is due to the validation that comes from receiving funding from a prestigious European program, which signals to investors that the company has undergone rigorous evaluation and has the potential for significant impact in the market.

Case Study: Inprother Aps and the CancERVacc Project

Inprother Aps, a Danish biotech company, emerged as a recipient of the EIC Accelerator funding for its innovative project, CancERVacc. This project focuses on targeting cancer using endogenous retrovirus (ERV) vaccines, which represent a novel approach to cancer immunotherapy.

Project Overview: CancERVacc

The CancERVacc project aims to harness the body's immune system to recognize and combat cancer cells by utilizing ERV-based vaccines. These vaccines are designed to elicit a strong immune response against cancer cells, thereby improving patient outcomes. The approach is innovative because it leverages the body's natural defense mechanisms, potentially leading to more effective and less invasive cancer treatments.

Technology Basics and Background

Endogenous retroviruses are remnants of ancient viral infections that have integrated into the human genome over millions of years. While most of these viral sequences are typically inactive, they can express proteins that are present in cancer cells. The CancERVacc project focuses on developing vaccines that stimulate the immune system to target these proteins, helping the body to identify and destroy cancer cells more effectively.

The technology underpinning CancERVacc involves advanced techniques in molecular biology and immunology. By engineering vaccines that present these viral proteins to the immune system, Inprother Aps seeks to enhance the body’s ability to mount a targeted response against tumors. This could represent a significant advancement in the field of cancer treatment, particularly for patients with hard-to-treat cancers.

Inprother Aps submitted their Step 2 proposal for the EIC Accelerator on June 16, 2021, and subsequently won funding after successfully navigating the Step 3 interview process. This funding will enable them to accelerate the development of CancERVacc, bringing them one step closer to clinical application and addressing critical needs in cancer therapy.

The EIC Accelerator thus not only provides financial support but also plays a crucial role in validating and propelling innovative projects like CancERVacc in the competitive landscape of cancer treatment solutions.

2 The Funding Rounds

InProTher ApS, a Copenhagen-based biotechnology company specializing in immunotherapies targeting Human Endogenous Retroviruses (HERVs), has secured significant funding since its participation in the European Innovation Council (EIC) Accelerator program on June 16, 2021.

EIC Accelerator Funding (June 16, 2021): InProTher received €2.5 million through the EIC Accelerator program, aimed at supporting innovative startups in the European Union. (hervolutiontx.com)

Seed Funding Round (May 24, 2023): On May 24, 2023, InProTher announced a €6 million seed financing round. This funding was provided by private investors and the EIC Fund, enabling the company to advance its lead drug candidate, IPT001, into clinical development. (prnewswire.com)

Investor Information: The EIC Fund, a venture capital arm of the European Commission, participated in the May 2023 seed funding round. Additionally, private investors, including the Novo Nordisk Foundation and Vaekstfonden (Denmark), have been involved in InProTher's funding history. (hervolutiontx.com)

Company Valuations and Exit Events: As of June 7, 2024, InProTher, operating under the name Hervolution, completed a later-stage venture capital funding round of $11.6 million. This round was led by existing investors, including the EIC Fund. The valuation details for this round are not publicly disclosed. (pitchbook.com)

InProTher's strategic partnerships, such as the licensing agreement with Sirion Biotech GmbH in February 2020, have also contributed to its growth and development. (magnussonlaw.com)

Overall, InProTher has successfully attracted funding from both public and private investors, facilitating the advancement of its innovative cancer immunotherapy programs.

3 The Press Releases

InProTher ApS, a Danish biotech company specializing in cancer immunotherapy, has been actively advancing its initiatives since receiving the European Innovation Council (EIC) Accelerator funding in June 2021. The company has engaged in several strategic developments, including leadership changes, funding acquisitions, and collaborative agreements.

Leadership Changes

In June 2023, InProTher appointed Kim Arvid Nielsen as its new CEO. Nielsen, formerly the CEO of Cytovac, was tasked with leading the company through a significant financing round of DKK 150 million (approximately USD 22 million). This appointment followed the brief tenure of Mathias Kroll, who had served as CEO for six months before departing for another opportunity. (medwatch.dk, medwatch.dk)

Funding Acquisitions

In early 2023, InProTher secured substantial funding to support its growth and development. The company received DKK 10 million from the Novo Nordisk Foundation and an additional DKK 4 million from Innobooster. These funds were allocated towards restructuring the organization and preparing for clinical trials in 2021. (medwatch.dk)

Collaborative Agreements

In February 2020, InProTher entered into a licensing agreement with SIRION Biotech GmbH, a leader in viral vector-based gene delivery technologies. As part of this transaction, SIRION became a shareholder in InProTher and secured a seat on its board of directors. (magnussonlaw.com)

Company Overview

Established in 2011, InProTher is dedicated to developing adaptive immune therapies targeting immunosuppressive genes of ancient retroviruses within the human genome. These retroviral genes, typically dormant, are reactivated in cancer and play a crucial role in tumor development. InProTher's proprietary combination of novel technologies aims to break tolerance to this unique antigen family, providing broad anti-cancer efficacy. (danskbiotek.dk)

For more detailed information and updates, InProTher's official website and social media channels serve as primary sources.

4 The Technology Advancements

InProTher, a biotechnology company based in Copenhagen, Denmark, specializes in developing innovative immunotherapies targeting Human Endogenous Retroviruses (HERVs) to treat various cancers. Their lead drug candidate, IPT001, is a first-in-class immunotherapy designed to combat solid tumors.

Advancements Since EIC Accelerator Funding

In June 2021, InProTher secured €2.5 million in funding through the European Innovation Council (EIC) Accelerator program. This grant was instrumental in advancing their research and development efforts. (hervolutiontx.com)

In May 2023, InProTher announced an additional €6 million in seed financing, with participation from the EIC Fund. This funding is earmarked to support Good Manufacturing Practice (GMP) and toxicology studies, propelling IPT001 into First-In-Human clinical trials. (prnewswire.com)

Technological Improvements and New Features

InProTher has made significant strides in enhancing its immunotherapy platform. The company has developed a technology that stimulates both humoral and cellular immune responses by targeting HERV tumor antigens using Adenoviral and RNA vectors. This dual stimulation approach aims to overcome the limitations of traditional cancer vaccines. (prnewswire.com)

Market Demonstrations and Clinical Trials

The company has generated robust pre-clinical, proof-of-concept data demonstrating the therapeutic potential of IPT001 across multiple oncology indications, including pancreatic, ovarian, breast, and prostate cancers. Plans are in place to initiate First-In-Human trials in 2024, marking a significant step toward clinical validation. (prnewswire.com)

Patents, Scientific Studies, and Publications

While specific details regarding new patents or publications are not readily available, InProTher's innovative approach to targeting HERVs suggests ongoing research and potential intellectual property developments. The company's participation in the EIC Accelerator program underscores its commitment to advancing scientific knowledge and therapeutic applications in the field of cancer immunotherapy.

In summary, InProTher has demonstrated substantial progress in developing its immunotherapy platform, securing significant funding, and preparing for clinical trials, all of which highlight its dedication to advancing cancer treatment through innovative approaches.

5 The Partnerships and Customers

InProTher ApS, a Copenhagen-based biotechnology company specializing in cancer immunotherapies targeting Human Endogenous Retroviruses (HERVs), has established several strategic partnerships and secured significant funding since receiving the European Innovation Council (EIC) Accelerator funding on June 16, 2021.

Strategic Partnerships and Collaborations

InProTher's collaboration with Sirion Biotech GmbH, a German leader in viral vector-based gene delivery technologies, stands out as a pivotal development. This partnership, finalized in February 2020, involved a licensing agreement where Sirion Biotech not only provided its expertise but also became a shareholder in InProTher, securing a seat on the board of directors. (magnussonlaw.com)

Leadership Appointments

InProTher has bolstered its leadership team by appointing Dr. Hamina Patel as Chief Medical Officer and Dr. Sven Rohmann as Chairman of the Board of Directors. Dr. Patel brings over 20 years of experience in the pharmaceutical industry, particularly in oncology, while Dr. Rohmann offers extensive international experience in general management and leadership. These appointments are expected to steer InProTher in the right direction as it continues to make strides in the biotech industry. (prnewswire.com)

Funding and Financial Support

In May 2023, InProTher secured €6 million in seed funding from private investors, with participation from the EIC Fund. This financing is intended to advance InProTher's lead drug candidate, IPT001, a first-in-class immunotherapy against solid tumors, into clinical development. (prnewswire.com)

Impact on Market Position and Technological Advancement

The partnership with Sirion Biotech GmbH enhances InProTher's capabilities in viral vector-based gene delivery, a critical component of its immunotherapy approach. The leadership appointments and substantial funding position InProTher to accelerate the development of IPT001, potentially leading to a significant market presence in the oncology sector. These developments are expected to drive technological advancements and scaling, facilitating the transition from preclinical to clinical stages and enhancing the company's competitive edge in the biotechnology industry.

6 The Hiring and Company Growth

InProTher ApS, a biotechnology company based in Copenhagen, Denmark, specializes in developing novel cancer vaccines and immunotherapies. Since receiving funding from the European Innovation Council (EIC) Accelerator on June 16, 2021, the company has demonstrated notable growth and strategic developments.

Current Team Size and Hiring Status

As of the latest available data, InProTher employs approximately 10 individuals. The company is actively recruiting for key positions, including a Chief Executive Officer (CEO), Chief Scientific Officer (CSO), Chief Financial Officer (CFO), and Chief Technology Officer (CTO). These roles are critical for steering the company's strategic direction and advancing its research initiatives. (craft.co)

Growth and Recent Hires

InProTher has expanded its team to support its ambitious growth trajectory. The recent hiring of a new CEO is expected to provide visionary leadership, while the appointment of a CSO will enhance the company's scientific research capabilities. The addition of a CFO is anticipated to strengthen financial management, and the recruitment of a CTO will bolster technological development efforts. These strategic hires are poised to accelerate InProTher's mission to develop innovative cancer immunotherapies. (craft.co)

Impact of New Team Members

The integration of these new team members is set to significantly impact InProTher's future. The CEO's leadership is expected to drive the company's strategic vision, fostering growth and innovation. The CSO's expertise will advance research and development, potentially leading to breakthroughs in cancer treatment. The CFO's financial stewardship will ensure sustainable growth, while the CTO's technological insights will enhance product development and operational efficiency. Collectively, these additions are instrumental in scaling InProTher's operations and achieving its long-term objectives.

Management and Founding Team Updates

InProTher's management team includes CEO Jordi Naval, CSO Peter Johannes Holst, CFO Nicolaj Højer Nielsen, and CTO Anne-Marie Andersson. These leaders bring a wealth of experience and expertise, positioning the company for continued success in the competitive biotechnology sector. (craft.co)

In summary, since securing EIC Accelerator funding in June 2021, InProTher ApS has strategically expanded its team and leadership to support its mission in developing cutting-edge cancer immunotherapies. The company's proactive hiring and management decisions underscore its commitment to innovation and growth in the biotechnology industry.

7 The Media Features and Publications

Inprother ApS, a Danish biotech company specializing in cancer immunotherapy, has garnered significant attention since securing the EIC Accelerator funding on June 16, 2021. This support has propelled the company into various media features, publications, and industry events, highlighting its advancements and contributions to the biotech sector.

Media Features and Publications

In June 2023, Mesh Community reported that InProTher raised €6 million in a seed round from investors and the European Innovation Council (EIC) Fund. (meshcommunity.com) This funding milestone underscores the company's growing influence in the biotech industry.

Podcasts and Interviews

As of April 2025, there are no publicly available records of Inprother ApS participating in podcasts or interviews. The company has yet to engage in such media formats to share insights into its operations and developments.

Conference and Fair Participation

While specific details about Inprother ApS's participation in conferences and fairs since June 2021 are not readily available, the company has been active in the biotech community. For instance, the Danish Biotech Association (DANSK BIOTEK) has organized various events, such as the Biotech Salon series and the Nordic Life Science Days, which focus on biotech valuations, out-licensing, and investment strategies. (danskbiotek.dk) These events provide platforms for biotech companies to showcase their innovations and network with industry leaders.

Event Involvement

Inprother ApS's involvement in specific events since June 2021 is not extensively documented. However, the company's participation in industry events and summits is indicative of its commitment to advancing cancer immunotherapy and engaging with the broader scientific community.

In summary, since receiving the EIC Accelerator funding in June 2021, Inprother ApS has made notable strides in the biotech sector, securing significant funding and participating in key industry events. These developments reflect the company's dedication to innovation and its growing presence in the global biotech landscape.