1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is a key initiative aimed at supporting innovative small and medium-sized enterprises (SMEs) and startups within the European Union. Focused primarily on DeepTech and breakthrough innovations, the program offers financial support in the form of grants and equity investments. Its primary goal is to enhance the growth and scaling capabilities of high-potential companies, particularly those addressing significant societal challenges.

Funding Structure

The EIC Accelerator provides two main types of funding:

This dual funding approach allows startups to leverage public resources while attracting additional private investments, thereby enhancing their overall funding landscape.

Purpose of the EIC Accelerator

The EIC Accelerator aims to foster innovation within the European DeepTech and startup ecosystem by addressing the funding gap that many early-stage companies face. By providing both grants and equity investments, the program encourages high-risk, high-reward ventures that might otherwise struggle to secure financial backing from private investors. Furthermore, the EIC Accelerator helps create a robust network of innovators, providing mentorship, strategic guidance, and access to a wider ecosystem of partners and investors.

Role in Scaling Companies

The EIC Accelerator plays a pivotal role in helping companies scale by not only providing financial support but also by facilitating connections with potential investors and industry stakeholders. The program's structured approach includes various stages of evaluation, culminating in a rigorous interview process designed to assess the viability and impact of proposed projects. This thorough vetting process ensures that only the most promising innovations receive support, thereby increasing the likelihood of success in the marketplace.

Case Study: Nemysis Ltd and the Endoprotease 40 (E40) Project

Company Overview:
Nemysis Ltd, based in Ireland, has emerged as a winner of the EIC Accelerator, securing funding for its groundbreaking project, Endoprotease 40 (E40). This project represents a significant advancement in the field of medical treatments, specifically targeting celiac disease and gluten sensitivity.

Project Description:
The E40 project aims to develop the first-ever preventive treatment for celiac disease and gluten sensitivity. Celiac disease, an autoimmune disorder triggered by gluten ingestion, affects a significant portion of the population, leading to serious health complications. Existing treatments primarily focus on dietary management, leaving a gap for preventive solutions. The E40 project seeks to fill this void, offering a novel therapeutic approach.

Technology Background

The core technology behind the Endoprotease 40 project involves the development of a specialized enzyme designed to break down gluten proteins in the digestive system before they can trigger an immune response in individuals predisposed to celiac disease. This enzymatic treatment aims to reduce the severity of symptoms and provide a protective mechanism against gluten exposure.

The scientific foundation of this technology is rooted in the understanding of gluten's role in celiac disease. Gluten comprises various proteins, and the immune system of individuals with celiac disease erroneously identifies these proteins as harmful, leading to inflammation and damage to the intestinal lining. By leveraging advanced biochemistry and enzyme engineering, Nemysis Ltd aims to create an effective solution that could significantly improve the quality of life for those affected by gluten sensitivities.

Conclusion

The EIC Accelerator program serves as a vital catalyst for innovation within the European landscape by providing essential financial support and strategic guidance to startups like Nemysis Ltd. With its innovative Endoprotease 40 project, Nemysis Ltd is poised to make a substantial impact on the treatment of celiac disease and gluten sensitivity, exemplifying the transformative potential of the EIC Accelerator in fostering groundbreaking solutions to pressing health challenges.

2 The Funding Rounds

Nemysis Ltd (Ireland) — Financing and Funding Overview Since EIC Accelerator Award

Nemysis Ltd, based in Ireland, is a pharmaceutical and healthcare company focused on innovative treatments for iron deficiency/anemia and gluten sensitivity. The following overview details the company's financing history, funding rounds, timing and amounts of those rounds, investor information, company valuations where available, and any exit events since its successful application to the EIC Accelerator on January 11, 2023.

---

Financing Raised & Funding Rounds

EIC Accelerator Grant (January 2023 Cut-off)

• Type: Non-dilutive grant
• Amount: €2.5 million
• Timing: Awarded after January 2023 cut-off; public announcement in November 2023.
• Purpose: To fund completion of research and development for Endoprotease 40 (E40), a preventive treatment for celiac disease and gluten sensitivity.

Historical Private Financings

• Second Round of Financing
• Date Closed: May 2020
• Type: Private capital raise (likely Series A or convertible note)
• Amount: €2.65 million
• Investors: Mix of existing shareholders and new biotech/healthcare investors; specific names not disclosed.
• Purpose:
• Expand clinical development of IHAT nanoparticulate iron product.
• Advance pipeline including pre-industrialization process for E40 endopeptidase.
• Seed Funding Round
• Date Closed: March 2018
• Type: Seed round
• Amount: €1 million.
• Investors/Leadership Involved:
• Led by Danilo Casadei Massari (Co-Founder & CEO); specific investor names not disclosed.
• Funds used to advance lead product candidate development—particularly nano-particulate iron—and progress toward EU market access as food supplement.

Total Reported Funding Raised

Based on publicly available data: | Source | Amount (€m) | Year | |:---------------|------------:|-----------| | Seed | ~1.0 | 2018 | | Second Round | ~2.65 | 2020 | | EIC Grant | ~2.5 | Nov–Dec 2023 | Total Reported ~6.15+ |

However, some sources suggest total funding could be higher—up to €12.5 million—which indicates there may be additional undisclosed or earlier rounds not detailed in reporting.

---

Investor Information

Nemysis has received investment from: - Existing shareholders from early-stage investments.

• New investors with backgrounds in biotech/healthcare sectors joined during the second round in May 2020.
• European Union via Horizon Europe / European Innovation Council grant mechanism.

Specific venture capital funds or private equity entities are not named in publicly available disclosures up to this date.

---

Timing & Details of Key Rounds

Date	Type	Amount (€m)	Investors
Mar–May '18	Seed	~1	Undisclosed
May '20	Second/private	~2.65	Mix existing/new investors
Jan '23–Nov'23†	Grant	Up to €2.5 EU Horizon/EIC Accelerator

Submitted Step Two proposal Jan ’23; †Publicly announced Nov ’23 when funds awarded/disbursed.

---

Company Valuation Data

No explicit recent valuation figures have been disclosed publicly for Nemysis Ltd following their latest funding rounds or grant awards.

---

Exit Events — IPOs / Acquisitions / Buyouts

As of May 2025:

No initial public offering (IPO), acquisition/buyout event, nor secondary market listing has been reported for Nemysis Ltd since receiving the EIC Accelerator funding.

The company remains privately owned with ongoing research/development activities funded by grants and private financings.

---

Summary Table — Major Fundraising Events Since Founding

Year	Event/Funding Round	Amount (€m)
2018	Seed round	~1
'20	_Second/private	~2.65
'23/'24	EIC Accelerator/Horizon Europe Grant	Up to €2.5

Additional unreported raises may contribute to a higher total as suggested by aggregate sources (~€12M).

---

Exit Status

As per all current records through early May 2025:

"No IPOs or acquisition events have taken place involving Nemysis Ltd."

---

Sources

• EIC Accelerator-January 11 Cut Off
• Ireland ranks second in Horizon Europe EIC Accelerator funding
• Nemysis Limited Receives EU Horizon Grant Funding for E40
• Nemysis completes second round financing (€2.65M)

-Nemysis Raises €1M In Seed Funding – FinSMEs

-Startup Estonia/Nemysis profile

-Irish Tech News Coverage – Ireland/EU Innovation Grants

3 The Press Releases

Nemysis Ltd: Post-EIC Accelerator Funding Developments Irish biotech firm Nemysis Ltd, a 2023 EIC Accelerator grant recipient, focuses on pioneering solutions for gluten-related disorders and nutritional deficiencies. Below are key updates since securing EU funding:

---

Core Innovations

• E40 Enzyme: A preventive treatment targeting celiac disease and non-celiac gluten sensitivity by breaking down immunogenic gluten fragments before they trigger symptoms.
• IHAT (Nano Fe(III)): Nanotechnology-based iron delivery system mimicking natural gut absorption, designed for patients with iron deficiency without gastrointestinal side effects.
• Matrix Delivery System: Gastro-resistant technology protecting enzymes from stomach acid to ensure targeted intestinal release.

---

Development Pipeline

Nemysis follows a dual regulatory strategy:

• Short-term: Positioning IHAT and E40 as Novel Food supplements or "Food for Special Medical Purposes" (FSMP) in select markets.
• Long-term: Advancing products to Phase I/II clinical trials for partnerships or out-licensing opportunities.

---

Strategic Direction Post-Funding

The EIC Accelerator grant supports scaling efforts, including:

• Commercialization of E40 as the first preventive therapy for accidental gluten ingestion.
• Expansion of IHAT’s application beyond iron deficiency to broader malabsorption syndromes.

No press releases about partnerships, patents, or team changes were found on Nemysis’ website or external sources as of the latest available data.

---

Sources

Note: Social media accounts or recent press releases directly from Nemysis were not identified during research.

4 The Technology Advancements

Nemysis Ltd's Post-EIC Accelerator Progress and Current Capabilities

Since securing Horizon Europe EIC Accelerator funding in March 2023, Nemysis Ltd has advanced its dual focus on iron deficiency and gluten intolerance therapies while expanding commercial partnerships. Key developments include:

Core Capabilities

• Specialized Product Pipeline: Focused on IHAT (Iron Hydroxide Adipate Tartrate), a nanoparticulate iron supplement mimicking natural ferritin delivery, and E40, an oral enzyme targeting gluten immunogenic peptides.
• Microbiome-Safe Solutions: Technologies designed to avoid gut microbiome disruption, validated through clinical trials for IHAT safety/efficacy.
• Strategic Alliances: Partnerships with Bruno Farmaceutici (Italy) for E40 sales/marketing options and Avia Pharma AB (Sweden) for Northern European market expansion.

Recent Advancements

Market Demonstration & Clinical Evidence

• IHAT Clinical Validation: Repeat-dose trials confirmed efficacy in correcting iron deficiency without microbiome harm, though recent trial data post-2021 remains unpublished.
• E40 Preclinical Validation: Demonstrated resistance to gastric/trypsin digestion and ability to neutralize gluten’s immunogenic fragments in vitro; human clinical results pending public disclosure.

Intellectual Property & Publications

No new patents or peer-reviewed studies appear explicitly mentioned post-EIC funding. However:

• The Matrix Delivery System (gastro-protective encapsulation technology) remains proprietary with ongoing R&D applications across their portfolio.
• Public scientific updates since 2023 focus on partnership announcements rather than novel research findings or IP filings.

---

Sources
Nemysis Limited Announces Investment by Avia Pharma AB Nemysis News <a href="https://www.biospace.com/nemysis-limited

5 The Partnerships and Customers

Nemysis Ltd: Partnerships and Strategic Alliances Since EIC Accelerator Funding

Nemysis Ltd, an innovative healthcare company from Ireland, has been actively expanding its partnerships and strategic alliances since receiving the EIC Accelerator funding in January 2023. This strategic growth aligns with Nemysis' focus on developing effective nutritional supplements and advancing its product portfolio.

Partnerships and Entities

• Bruno Farmaceutici SpA: Nemysis entered into a strategic alliance with Bruno Farmaceutici SpA, a prominent Italian pharmaceutical company, to mutually advance their portfolios and sales. This agreement includes a non-exclusive sales and marketing option for Nemysis' E40 product in the Italian market.
• Bruno Farmaceutici SpA (IHAT Agreement" class="inline-link" target="_blank" rel="noopener noreferrer">Strategic Alliance With Bruno Farmaceutici: Nemysis also signed a non-exclusive sales and marketing agreement with Bruno Farmaceutici for its innovative oral iron supplement, IHAT. This partnership utilizes Bruno's sales network to market IHAT under its own brand, while Nemysis markets it under its brand, Tolfer, within Italy.
• Kolinpharma SpA: A non-exclusive sales and marketing agreement was signed with Kolinpharma SpA for the IHAT product, further expanding Nemysis' reach in Italy. Kolinpharma markets IHAT under its brand, KIPFeR.
• Avia Pharma AB: Nemysis partnered with Avia Pharma AB as an exclusive distributor for IHAT (under the Tolfer brand) in the Nordic region and semi-exclusively in Germany, enhancing its global footprint.

Nature and Purpose of Relationships

These partnerships are designed to leverage each partner's strengths, enhancing Nemysis' product distribution and market presence. The agreements facilitate the expansion of Nemysis' product portfolio, particularly E40 for gluten intolerance and IHAT for iron deficiency, into key European markets.

Positioning in the Market and Advancements

These alliances position Nemysis as a significant player in the healthcare and nutritional supplement sector, particularly in Europe. By collaborating with established companies like Bruno Farmaceutici and Avia Pharma, Nemysis gains access to extensive sales networks and clinical expertise, accelerating its market penetration and product development. The partnerships also aid in scaling Nemysis' operations, enabling the company to address broader customer bases and expand its technological capabilities in developing innovative healthcare solutions.

Scaling and Technology Advancements

The strategic alliances help Nemysis scale by providing access to diverse markets and customer segments. Technologically, these partnerships facilitate the advancement of Nemysis' products, such as E40 and IHAT, by integrating them into larger, more established product portfolios. This integration allows for more extensive clinical trials and market feedback, further refining Nemysis' offerings and enhancing their market competitiveness.

Sources: - Nemysis News

• Nemysis Limited Announces a Strategic Alliance With Bruno Farmaceutici S.p.A.
• Nemysis Limited Signs IHAT Sales and Marketing Agreement
• Nemysis Limited Signs With Kolinpharma SpA an IHAT Sales and Marketing Agreement
• Nemysis Limited Announces Collaboration With Avia Pharma AB as IHAT Distributor in Nordic Region

6 The Hiring and Company Growth

Nemysis Ltd: Team Growth and Strategic Developments Post-EIC Accelerator Funding Nemysis Limited, a Dublin-based specialty pharmaceutical company, has maintained a lean operational structure focused on microbiome-friendly nutritional products. While specific headcount figures are not publicly disclosed, available data suggests the company operates with a compact team of senior experts and entrepreneurs. The March 2025 announcement of an investment by Avia Pharma AB indicates potential scaling activities, though no explicit hiring initiatives are detailed in recent disclosures.

Key developments include:

• Strategic Partnerships: The Avia Pharma collaboration likely accelerates product development and market reach for Nemysis’ iron deficiency therapies (e.g., IHAT).
• Governance Stability: With eight directors overseeing operations and 37 shareholders, leadership remains consistent except for routine directorate updates logged in November 2023 and March 2024 CRO filings.
• Growth Indicators: Filings show active financial management (e.g., December 2024 allotment returns), implying resource allocation for R&D or team expansion.

While direct hiring data is unavailable, the EIC Accelerator funding (awarded January 2023) typically enables scaling; however, Nemysis’ public materials emphasize product innovation over organizational growth metrics. Recent documents do not specify roles added post-funding but highlight ongoing clinical work on IHAT formulations.

Sources
Nemysis Homepage
Nemysis News
Vision-Net Company Report

7 The Media Features and Publications

Media Features and Publications of Nemysis Ltd

Since winning the EIC Accelerator funding, Nemysis Ltd has been recognized in several media features and publications.

• Research Note by The Life Sciences Division Limited (TLSD): Nemysis was covered in a research note by TLSD, highlighting the potential of its products, particularly IHAT (Iron Hydroxide Adipate Tartrate), which has received market authorization in Europe and Canada. The note emphasizes Nemysis' ability to address significant markets like Iron Deficiency Anaemia and Celiac Disease.
• Access Newswire Coverage: Nemysis announced the establishment of Enteralia Bioscience LLC, a US-based subsidiary focused on R&D for celiac disease and gluten intolerance treatments. This move is part of the company's strategy to expand its presence in the US market.

Podcasts and Interviews

There are no specific podcasts or interviews featuring Nemysis Ltd's team that are widely available or documented in the searched sources.

Conference and Fair Visits

Nemysis Ltd does not appear to have been listed as a presenter or participant in major conferences directly related to its activities in the search results. However, given its focus on healthcare and pharmaceuticals, it likely attends events related to these sectors.

Event Involvement

Nemysis Ltd's involvement in events is primarily related to its expansion and strategic partnerships, such as establishing Enteralia Bioscience LLC in the US to enhance R&D and collaboration with academic institutions and pharmaceutical companies. There is no specific information on recent conference participations or fair visits, but the company's strategic moves suggest active engagement in the healthcare sector.

Additional Information

As an Irish company with a focus on nutritional and pharmaceutical solutions, Nemysis Ltd continues to innovate in areas like iron deficiency and gluten intolerance. Its products, such as IHAT and E40, have garnered attention for their potential to address significant health challenges.

Sources

• Nemysis Limited
• About Nemysis Ltd
• Nemysis Ltd Establishes a New Subsidiary in the U.S.
• Nemysis company information, funding & investors
• Nemysis Limited Covered in Research Note
• Nemysis Limited Signs Heads of Terms for IHAT Sales and Marketing