1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program is a key initiative under the European Innovation Council (EIC), designed to support high-risk, high-potential startups and small to medium-sized enterprises (SMEs) in Europe. This program aims to foster innovation and technological advancements, particularly in the DeepTech sector, by providing financial support and strategic guidance to companies poised for rapid growth.

Funding Structure

The EIC Accelerator provides funding through two primary mechanisms: grants and equity investments. Initially, companies can receive a grant of up to €2.5 million to support the development and scaling of their innovative products or services. This grant can be utilized for various purposes, including research and development, prototyping, testing, and initial commercialization efforts.

In addition to the grant, the EIC Accelerator offers equity financing, which was capped at €15 million until 2024. Since 2025, this cap has been reduced to €10 million. The equity investment is intended to complement the initial grant funding, enabling companies to secure additional resources necessary for scaling operations, expanding market reach, and enhancing overall business viability.

Purpose and Impact on the Ecosystem

The EIC Accelerator plays a critical role in the European DeepTech and startup ecosystems by bridging the funding gap that often exists for innovative companies. Many startups face challenges in attracting private investment due to perceived risks and uncertainties associated with groundbreaking technologies. The EIC Accelerator mitigates these risks by providing substantial funding and mentorship, thereby increasing the attractiveness of these companies to private investors.

By fostering innovation and supporting the commercialization of new technologies, the EIC Accelerator contributes to the overall competitiveness of the European economy. It encourages collaboration among startups, established companies, and research institutions, creating a vibrant ecosystem where innovative ideas can flourish.

Case Study: Panntherapi and the PANNEXIN Project

Company Overview

Panntherapi, based in France, is an innovative biotech company that focuses on developing new treatments for rare diseases. The company has recently gained recognition as a winner of the EIC Accelerator program for its groundbreaking project, PANNEXIN.

Project Description

PANNEXIN centers around the development of a novel therapeutic targeting Pannexin 1, a protein associated with pediatric orphan epilepsy. This condition affects a small yet significant population of children, often resulting in severe neurological symptoms and a diminished quality of life. Current treatments are limited and often ineffective, creating a pressing need for innovative solutions.

Technology Basics and Background

Pannexin 1 is a channel protein located in the cell membrane that plays a crucial role in cellular communication and the release of signaling molecules. Its involvement in various physiological processes makes it a promising target for therapeutic intervention. Research has indicated that dysregulation of Pannexin 1 can contribute to the pathophysiology of epilepsy, particularly in pediatric patients.

The PANNEXIN project aims to develop a targeted therapy that modulates the activity of Pannexin 1 to restore normal cellular function and alleviate the symptoms of epilepsy. The project involves extensive preclinical studies to evaluate the efficacy and safety of the proposed treatment, with the ultimate goal of advancing to clinical trials.

Funding and Future Prospects

Panntherapi received an initial grant under the EIC Accelerator to support the research and development phases of the PANNEXIN project. The grant will facilitate critical studies and provide the necessary resources to move towards clinical validation. Furthermore, the potential equity investment will enable Panntherapi to scale its operations and attract additional private investment, positioning the company for long-term success in the biopharmaceutical landscape.

In summary, the EIC Accelerator program plays a vital role in nurturing innovative companies like Panntherapi. By providing substantial financial backing and strategic support, it empowers startups to tackle significant health challenges, ultimately contributing to advancements in medical technology and improved patient outcomes.

2 The Funding Rounds

Financing Raised

Panntherapi, a French biotech company, has raised significant funding since its EIC Accelerator win following the March 22, 2023 cut-off. The main financing secured includes:

• A €2.5 million grant awarded directly via the EIC Accelerator program.
• An additional equity commitment of up to €9.8 million facilitated by the EIC Fund in a subsequent funding round.

This combined funding positions Panntherapi with a total of up to €12.3 million from the European Innovation Council (EIC) Accelerator (grant plus equity offering).

Funding Rounds

EIC Accelerator Round:

• Date: Results announced after March 22, 2023 cut-off; publicized in June 2023.
• Structure: Blended finance round consisting of both grant and equity components.
• Amounts:
• Grant: €2.5 million
• Equity: Up to €9.8 million (conditional on due diligence and lead investor participation).

There is no public record of any further private or venture-led rounds completed after this major EIC-backed event as of May 2025.

Timing and Amounts

Date	Round	Type	Amount
June 2023	EIC Accelerator	Grant	€2,500,000
(Following)	EIC Fund	Equity	up to €9,800,000

The initial non-dilutive grant was confirmed for immediate use in product development; the equity portion is tied to Panntherapi securing a lead investor for co-investment.

Investor Information

The principal investor associated with these rounds is:

European Innovation Council Fund – acting as both grantor and potential lead/co-investor for the equity component.

There are currently no specific external private investors named publicly as participants in this or subsequent rounds post-EIC selection. The company continues seeking additional seed investment alongside its EIC facilitation efforts.

Additional Funding Details

Panntherapi’s selection came during an exceptionally competitive process:

• Only 51 companies out of more than 550 applicants were funded under this call.
• About half received blended finance deals like Panntherapi’s.

Their award specifically supports development of PTI5803 for epilepsy treatment advancement. The commitment from the EIC covers both direct project costs and future scaling contingent on matched private capital.

Company Valuations

No explicit post-money valuation figures have been published regarding Panntherapi following their latest funding round or after receiving their conditional equity commitment from the European Innovation Council Fund as of May 2025.

Exit Events (IPO/Acquisition/Buyout)

As of now, there are no records indicating that Panntherapi has undergone an IPO, acquisition, buyout event or any other form of exit since winning its major EU-backed financing round.

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Sources

• PannTheraPi company information at Startup Lithuania
• PANNTHERAPI obtained the EIC Accelerator grant (€2.5M) and equity (€9.8M)
• EIC Accelerator winners & statistics March 2023 - Strata.team

3 The Press Releases

Panntherapi’s EIC Accelerator Grant and Recent Developments Panntherapi, a French biotech company, secured significant funding through the European Innovation Council (EIC) Accelerator program in March 2023. The company was among 51 selected deep-tech firms (out of 551 applicants) to receive a blended financing package, including a €2.5 million grant and up to €9.8 million in equity during its next funding round. This funding supports the development of PTI5803, their therapeutic product targeting epilepsy by modulating pannexin 1 channels, a novel approach for neurological disorders.

In June 2023, Panntherapi won the Startup Spotlight competition at BioEurope 2023 in Munich after being shortlisted among ten finalists by Bayer. The pitch competition highlighted their potential to address unmet medical needs in epilepsy treatment through innovative biotechnology.

While specific partnerships or patents are not detailed in publicly available materials from their website or press releases as of the latest updates, Panntherapi’s selection for EIC funding underscores confidence in their technology’s commercial viability and therapeutic impact. The EIC Accelerator program typically funds high-risk innovations with market-disrupting potential, aligning with PTI5803’s focus on neurological conditions lacking effective treatments.

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Sources

• Panntherapi obtained the EIC Accelerator grant (2.5M€) and equity (9.8M€)
• PannTheraPi is the winner of the Startup spotlight competition at BioEurope
• EIC Accelerator winners March 2023: €261M for European deep-techs
• European Innovation Council selects 51 deep tech startups

4 The Technology Advancements

Panntherapi’s Post-EIC Accelerator Progress and Capabilities Panntherapi, a French biotech firm specializing in Pannexin 1 channel blockers for neurological disorders, secured a €2.5 million grant and up to €9.8 million in equity via the EIC Accelerator in 2023. The company focuses on developing PTI5803, a drug targeting epilepsy and other brain conditions by modulating overactive Pannexin 1 channels linked to neuroinflammation.

Advancements Since Funding
While no explicit product updates or clinical trial announcements are publicly detailed post-2023, the EIC funding is explicitly allocated to advancing PTI5803 through preclinical and clinical stages. The company’s unique ex vivo human tissue research platform remains central to validating drug efficacy and safety, though recent publications or whitepapers are not cited in available sources.

Market Demonstration and IP Activity
No customer pilots or public demonstrators are documented. However, Panntherapi emphasizes its disruptive approach using human-derived tissues for non-clinical modeling—a method likely refined further post-funding. Patent filings or scientific publications since March 2023 are not disclosed in accessible materials.

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Sources

• PannTheraPi - Eurobiomed
• Panntherapi’s EIC Accelerator Grant Announcement
• DevelopmentAid Profile
• Panntherapi’s Innovation Strategy

5 The Partnerships and Customers

Panntherapi: Recent Developments and Partnerships

Panntherapi, a French biotech company, has been making significant strides since receiving the EIC Accelerator funding in March 2023. Incubated at Paris Biotech Santé and BIC Innov'Up, Panntherapi is a spin-off of Paris Sciences et Lettres (PSL) University, focusing on life-changing treatments for patients with neurological diseases.

Partnerships and Awards

• Startup Spotlight Competition: Panntherapi was a winner of the Startup Spotlight competition at BioEurope 2023, an event organized by Bayer. This recognition highlights Panntherapi's innovative potential among numerous biotech companies.
• EIC Accelerator Grant: Panntherapi received a grant of 2.5 million euros and is eligible for equity funding up to 9.8 million euros. This funding supports the development of their product PTI5803 for epilepsy.

New Relationships and Market Positioning

The recent partnerships and funding position Panntherapi as a rising player in neurological treatments, particularly in epilepsy. By securing EIC funding, Panntherapi gains significant financial and reputational advantages. However, specific details on new partners or customers were not disclosed in the available information.

Technology Advancements and Scaling

Panntherapi's involvement in prestigious competitions like the i-Lab Innovation Competition and its selection for the Startup Spotlight session at BioEurope indicate a strong focus on advancing its technology. The EIC Accelerator grant will help accelerate the development of PTI5803, potentially scaling Panntherapi's operations and expanding its presence in the neurological disease treatment market.

Future Prospects

Given its innovative approach and recent achievements, Panntherapi is poised to become a more prominent figure in the biotech industry. The company's participation in notable competitions and its receipt of significant funding suggest a promising trajectory for its research and development efforts.

Conclusion

Panntherapi's progress since the EIC Accelerator funding reflects its potential for growth in neurological treatments. While specific new partners or customers are not detailed, the company's involvement in competitive events and grants positions it for further advancements and market recognition.

Sources

• Investors & Partners - Panntherapi
• PannTheraPi company information, funding & investors
• PannTheraPi is the winner of the Startup Spotlight competition at the BioEurope
• Panntherapi obtained the EIC Accelerator grant

6 The Hiring and Company Growth

Panntherapi, a French biopharmaceutical company focused on neurological disorders like epilepsy, has demonstrated steady growth since its 2021 founding. While specific headcount figures are not publicly disclosed, the broader French HealthTech sector (which includes Panntherapi) averaged 31 employees per company in 2023, with clinical development and R&D roles representing nearly half of industry hiring.

The company’s growth trajectory includes:

• Strategic relocations: Moved to IPNP (French Institute of Psychiatry and Neurosciences of Paris) in October 2022 to access specialized facilities.
• Awards & funding: Secured Seed funding by December 2022 and won dual Tech/Health awards in March 2022.
• Program participation: Selected for BPI France’s Deeptech program and Business France’s Botech Booster in early 2022.

While current hiring activity isn’t explicitly detailed, industry-wide challenges persist for recruiting R&D specialists and regulatory affairs professionals – positions critical for Panntherapi’s drug development pipeline targeting pannexin channels. The company’s academic roots through PSL University suggest ongoing collaborations requiring specialized researchers in neurology and pharmacology.

Recent team expansions would likely focus on scaling clinical operations as candidates approach human trials, though no management changes are reported among founders with prior biotech/pharma experience.

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Sources

• Our History - Panntherapi
• Panorama France Healthtech 2023
• Panorama France HealthTech 2022

7 The Media Features and Publications

Panntherapi: Post-EIC Accelerator Funding Activities and Visibility Panntherapi, a French biotech company developing PTI5803 for epilepsy treatment, gained significant recognition after securing €2.5 million in grants and up to €9.8 million in equity through the March 2023 EIC Accelerator funding round. The company’s achievements include competitive wins and conference participation, though detailed media features, podcasts, or interviews remain undocumented in publicly available sources.

Key Highlights

• EIC Accelerator Success: Selected among 51 companies (7 biotechs) from 551 proposals, Panntherapi’s funding supports advancing PTI5803 through clinical development.
• BioEurope 2023 Spotlight: The company won the Startup Spotlight Competition at BioEurope in Munich, pitching alongside nine other finalists selected by Bayer.

Event Participation

BioEurope 2023: Panntherapi presented at the Biotech Spotlight Session, emphasizing its therapeutic focus on pannexin 1 modulation for neurological disorders.

No specific publications or podcasts directly naming Panntherapi were identified beyond its own announcements.

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Sources

• Panntherapi obtained the EIC Accelerator grant (2.5M€) and equity (9.8M€)
• PannTheraPi is the winner of the Startup spotlight competition at the BioEurope