1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator is a flagship funding program under the European Innovation Council (EIC), designed to support innovative small and medium-sized enterprises (SMEs) and startups in Europe. It aims to help companies turn groundbreaking ideas into market-ready products and services. The program provides a combination of grants and equity investments to bridge the funding gap that often exists in the early stages of technology commercialization.

Funding Structure

The EIC Accelerator offers grant funding of up to €2.5 million. This non-repayable funding is aimed at covering a portion of the project costs related to innovation and development. It is particularly beneficial for projects that are still in the high-risk phase and need financial support to demonstrate feasibility and market potential.

• In addition to grants, the EIC Accelerator provides equity financing. This is structured as follows:
• Up to €15 million until 2024.
• Up to €10 million starting from 2025.
• This equity investment is aimed at companies that have demonstrated market potential and are looking to scale operations. It allows companies to obtain necessary funding while retaining ownership and control.

Purpose of the EIC Accelerator

The EIC Accelerator plays a crucial role in the European DeepTech and startup ecosystem. Its primary objectives include:

• Fostering Innovation: By providing financial support, the program encourages the development of cutting-edge technologies and innovative solutions that can lead to significant advancements in various fields.
• Strengthening Competitiveness: The EIC Accelerator helps European companies compete on a global scale by enabling them to innovate and scale their operations effectively.
• Encouraging Entrepreneurship: It empowers entrepreneurs by reducing the financial risks associated with bringing new technologies to market.

Role in Scaling and Funding

The EIC Accelerator is instrumental in helping companies scale by:

• Providing Access to Capital: The combination of grants and equity investments allows startups to secure the necessary funds for research, development, and commercialization activities.
• Facilitating Private Sector Engagement: The EIC Accelerator's backing enhances a company's credibility, making it more attractive to private investors. It often serves as a springboard for raising additional funding from venture capitalists and other financial institutions.
• Networking Opportunities: The EIC Accelerator connects companies to a network of investors, mentors, and industry experts, providing guidance and opening doors to new opportunities.

EIC Accelerator Winner: Perseus Biomics BVBA

Company Name: Perseus Biomics BVBA
Project Acronym: Perseus MAP
Project Description: Microbiome Abundance Profiling: Precision microbiome profiling for insights into human health & research
Funding Type: Blended finance
Website: perseusbiomics.com
Country: Belgium
Cut-off Date: June 16, 2021

Project Overview

Perseus MAP is a groundbreaking project focused on microbiome abundance profiling. The aim of this project is to develop a precision microbiome profiling technology that can provide valuable insights into human health and facilitate research in various medical fields.

Technology Basics and Background

The human microbiome, which consists of trillions of microorganisms residing in our bodies, plays a pivotal role in maintaining health and influencing disease. Understanding the composition and function of the microbiome can unlock new avenues for medical research and personalized medicine.

This refers to the comprehensive analysis of microbial communities within a specific environment, such as the human gut. It involves identifying and quantifying different microbial species present, which can vary significantly from person to person.

The Perseus MAP project aligns with the principles of precision medicine, which aims to tailor medical treatment to the individual characteristics of each patient. By using advanced microbiome profiling, healthcare providers can gain insights into how an individual's microbiome affects their health and tailor interventions accordingly.

• The project employs cutting-edge technologies for sequencing and analyzing microbial DNA, allowing for high-resolution insights into microbial composition and function.
• Advanced data analytics and machine learning algorithms are also utilized to interpret complex microbiome data, making it easier to derive actionable health insights.

Conclusion

The EIC Accelerator program serves as a vital catalyst for innovation in the European ecosystem, specifically for companies like Perseus Biomics BVBA. By providing substantial financial support and fostering connections within the industry, the EIC Accelerator helps startups navigate the challenges of scaling and successfully bringing innovative solutions to market. The Perseus MAP project exemplifies the potential of microbiome research to revolutionize health and personalized medicine through advanced technology and precision profiling.

2 The Funding Rounds

Perseus Biomics BVBA, a Belgian company specializing in microbiome analysis, has secured several funding rounds since receiving the EIC Accelerator funding on June 16, 2021. Here's a detailed overview:

1. Series B Funding Round

• Date: May 29, 2024
• Amount Raised: $6 million
• Investors: The round was led by existing investors, including the European Innovation Council Fund, Kindmore, and ZEISS Ventures. (pitchbook.com)

2. Seed Funding Round

• Date: June 2, 2020
• Amount Raised: $2.18 million
• Investors: Specific investor details for this round are not publicly disclosed. (pitchbook.com)

3. EIC Accelerator Funding

• Date: June 16, 2021
• Amount Raised: The EIC Accelerator provides a combination of grant financing and equity investment of up to €17 million. (perseusbiomics.com)

Investor Information:

• European Innovation Council Fund: A venture capital fund supporting innovative startups and SMEs across Europe.
• Kindmore: A venture capital firm investing in early-stage companies.
• ZEISS Ventures: The corporate venture capital arm of ZEISS Group, focusing on investments in innovative technologies.

Company Valuations:

As of the latest available data, Perseus Biomics is valued at approximately $6 million post-money following the Series B funding round on May 29, 2024. (pitchbook.com)

Additional Information:

In October 2021, Perseus Biomics was selected as an EIC 2021 startup champion, receiving €363 million in funding for 65 innovative startups and SMEs across Europe. (perseusbiomics.com)

In December 2020, Newton Biocapital I invested €1.2 million in Perseus Proteomics Inc., a related entity, as part of a total round of €8.1 million. (newtonbiocapital.com)

In October 2021, ZEISS Ventures invested in Perseus Biomics, marking the start of a technology collaboration to develop optical technology for microbiome research. (instrumentbusinessoutlook.com)

As of December 2023, Perseus Biomics reported an equity of €4.65 million, indicating significant growth since its inception. (jaarrekening.be)

In summary, Perseus Biomics has successfully secured multiple funding rounds, including a significant Series B round in 2024, and has attracted investments from notable entities such as the European Innovation Council Fund, Kindmore, ZEISS Ventures, and Newton Biocapital I.

3 The Press Releases

Perseus Biomics BVBA, a Belgian company specializing in microbiome analytics, has made several significant announcements since receiving the EIC Accelerator funding on June 16, 2021. Below is a summary of their key press releases and developments:

1. ZEISS Investment and Technology Collaboration (June 2, 2020): Prior to the EIC funding, Perseus Biomics partnered with ZEISS, a global leader in optics and optoelectronics. This collaboration aimed to develop an optical technology for microbiome research, focusing on the quantitative analysis of the microbiome. ZEISS's expertise in optical systems and digital solutions was expected to enhance Perseus's capabilities in microbiome abundance mapping. (instrumentbusinessoutlook.com)

2. EIC 2021 Startup Champion Selection (October 14, 2021): Following the EIC Accelerator funding, Perseus Biomics was recognized as an EIC 2021 Startup Champion. This accolade highlighted the company's innovative approach to microbiome analysis and its potential impact on the field. (perseusbiomics.com)

3. Launch of MetaMAP™ Device (Date Not Specified): Perseus Biomics introduced the MetaMAP™ device, a high-performance benchtop solution powered by their DynaMAP™ technology. This device enables strain-level resolution in microbiome profiling, bringing advanced microbiome analysis capabilities directly to laboratories. The MetaMAP™ device is designed to deliver precise, reproducible, and actionable results, supporting applications in personalized nutrition, biotics development, epidemiology, and more. (perseusbiomics.com)

4. DynaMAP™ Technology Advancements (Date Not Specified): The company has continued to develop its DynaMAP™ technology, a novel untargeted metagenomics approach that delivers more precise microbiome profiles faster. DynaMAP™ enables researchers and clinicians to perform high-performance, time- and cost-efficient microbiome analysis in laboratories and at the point-of-need. The technology offers faster microbiome profiles, higher accuracy than sequencing, and deep metagenomic analysis with taxonomic resolution down to the strain level. (perseusbiomics.com)

5. Team and Leadership Updates: While specific team updates are not detailed in the available press releases, the company's ongoing technological advancements and strategic collaborations suggest a dynamic and growing team committed to innovation in microbiome analytics.

6. Intellectual Property and Patents: The press releases do not provide specific details regarding patents or intellectual property developments. However, the company's focus on innovative technologies like DynaMAP™ and MetaMAP™ indicates a strong emphasis on protecting and leveraging intellectual property in their product offerings.

For the most current and detailed information, including any recent press releases, partnerships, or technological advancements, it is recommended to visit Perseus Biomics' official website and their news section. (perseusbiomics.com)

4 The Technology Advancements

Perseus Biomics BVBA, based in Leuven, Belgium, specializes in advanced microbiome analysis technologies. Their flagship product, the MetaMAP™ device, leverages DynaMAP™ technology to provide high-resolution, strain-level insights into microbiome composition. This device is designed to be accessible for labs worldwide, facilitating precise microbiome profiling for applications in personalized nutrition, biotics development, epidemiology, and more.

Since receiving the EIC Accelerator funding on June 16, 2021, Perseus Biomics has made significant advancements. In October 2021, they announced a partnership with ZEISS Group to develop optical technology for microbiome research, specifically focusing on the quantitative analysis of the microbiome. This collaboration aims to enhance the precision and scalability of microbiome profiling, leveraging ZEISS's expertise in optics and photonics. (instrumentbusinessoutlook.com)

In terms of technology improvements, Perseus Biomics has introduced the MetaMAP™ device, which brings DynaMAP™ technology to laboratories, enabling in-house microbiome profiling with strain-level resolution. This advancement allows researchers to conduct precise and reproducible microbiome analyses, supporting various applications such as personalized nutrition and biotics development.

Regarding market demonstrations, Perseus Biomics has initiated an Early Adopter Program for the MetaMAP™ device, inviting labs to be among the first to access this technology. This program indicates active engagement with the market and potential customers.

As of now, there is no publicly available information indicating that Perseus Biomics has filed new patents or published new scientific studies, clinical trials, or whitepapers since their EIC Accelerator funding.

5 The Partnerships and Customers

Since receiving the EIC Accelerator funding on June 16, 2021, Perseus Biomics BVBA, a Belgian microbiome analytics company, has established a significant partnership with ZEISS, a global leader in optics and optoelectronics. Announced on June 2, 2020, this collaboration aims to develop optical technology for microbiome research, specifically focusing on the quantitative analysis of the microbiome. (perseusbiomics.com)

Details of the Partnership:

• Partners Involved: Perseus Biomics BVBA and ZEISS.
• Nature and Purpose: The partnership seeks to combine ZEISS's extensive expertise in optical and photonics systems with Perseus Biomics' innovative optical technology to advance microbiome research. The goal is to enable more precise and efficient analysis of microbiome abundance, which has substantial implications for medicine, agriculture, and other fields. (selectscience.net)

Impact on Perseus Biomics BVBA:

• Market Positioning: This collaboration positions Perseus Biomics as a pioneer in the field of microbiome abundance mapping. By leveraging ZEISS's global market reach and technological expertise, Perseus Biomics enhances its credibility and visibility in the scientific community, potentially attracting new customers and partners. (selectscience.net)
• Technological Advancements and Scaling: The partnership provides Perseus Biomics with access to ZEISS's advanced optical technologies, facilitating the development and launch of the Perseus MAP platform. This access is critical for accelerating the commercialization of their microbiome analysis solutions, enabling faster, more precise, and cost-effective services. (selectscience.net)

As of the latest available information, there are no additional publicly disclosed partnerships or customers for Perseus Biomics BVBA since the EIC Accelerator funding.

6 The Hiring and Company Growth

Perseus Biomics BVBA, a Belgian company specializing in microbiome analysis technology, received EIC Accelerator funding on June 16, 2021. (perseusbiomics.com)

Current Team Size and Hiring Status:

Specific details about Perseus Biomics' current headcount and team size are not publicly available. The company's website features a "Careers" section, indicating potential hiring activities.

Growth and Recent Hires:

While exact figures on team growth since the funding are not disclosed, the presence of a dedicated "Careers" page suggests ongoing expansion. However, without detailed information on recent hires, it's challenging to identify key positions filled or assess how these additions contribute to the company's scaling efforts.

Management Changes:

There is no publicly available information regarding major changes in Perseus Biomics' management or founding team since the EIC Accelerator funding.

For the most accurate and up-to-date information, it is recommended to contact Perseus Biomics directly through their official website.

7 The Media Features and Publications

Since receiving the EIC Accelerator funding on June 16, 2021, Perseus Biomics BVBA has been featured in various media outlets, publications, and events. Below is a summary of their media presence and activities:

Media Features and Publications:

• The Official Board: Perseus Biomics was highlighted for its selection as an EIC 2021 startup champion. (theofficialboard.com)
• Microbiome Times: The company was featured in articles discussing dynamic microbiome abundance profiling and a new tool to solve challenges in microbiome analysis.
• NutraIngredients: Perseus Biomics was mentioned for pioneering DNA profiling technology for microbiome strain classification.

Podcasts and Interviews:

BioScience Talks: While specific episodes featuring Perseus Biomics are not listed, this podcast covers various topics in the life sciences and may have relevant content. (toppodcast.com)

Conferences and Events:

• Microbiome Times Partnering Forum: Arno Bouwens, a representative from Perseus Biomics, presented on "DynaMAP – Precision Metagenomics Beyond Sequencing."
• BIO International Convention 2024: Scheduled for June 3-7, 2024, in San Diego, CA. (ordaos.bio)
• BIO Europe Spring 2024: Scheduled for March 17-20, 2024, in Vienna, Austria. (ordaos.bio)
• BIO Korea 2024: Scheduled for May 8-10, 2024, in Seoul, South Korea. (ordaos.bio)
• Biotech CEO Summit 2024: Scheduled for July 15-17, 2024, in La Jolla, CA. (ordaos.bio)

Event Involvement:

• AWS Generative AI Accelerator Program Demo Day: Scheduled for August 9-10, 2023. (ordaos.bio)
• Google Cloud Next 2023: Scheduled for August 29-31, 2023. (ordaos.bio)
• MedInvest MedTech, AI & Digital Health Conference: Scheduled for October 3-4, 2023, in Silicon Valley. (ordaos.bio)
• Society of Immunotherapy of Cancer 38th Annual Meeting (SITC 2023): Scheduled for November 1-5, 2023. (ordaos.bio)
• BIO-Europe 2023: Scheduled for November 6-8, 2023, in Munich, Germany. (ordaos.bio)
• PEGS Europe 2023: Scheduled for November 14-16, 2023, in Lisbon, Portugal. (ordaos.bio)

Please note that some events are scheduled for future dates, and participation details may not be publicly available yet.

For the most current information on Perseus Biomics' media features, publications, and event participation, it is recommended to visit their official website and monitor industry news sources.