Immunethep S.A.. (10/18/22). "Press Release: Immunethep Receives Funding from the European Innovation Council for Clinical Trials". Cantanhede.

	Organisation	Immunethep S.A.
	Organisation 2	EIC Fund (European Innovation Council Fund)
	Group	EU (govt)
	Product	Paragon Novel Vaccine (PNV)
	Product 2	business development (state/region)
	Index term	Immunethep–EU (govt): grant, 202210– EIC Accelerator grant €2.5m to advance Paragon Novel Vaccine
	Index term 2	Immunethep–EU (govt): investment, 202210– up to €12.5m equity investment from EIC Fund

Immunethep, a Portuguese biotech startup, has been selected by the European Innovation Council (EIC) to receive funding from its EIC Accelerator programme. Immunethep will receive initially a €2.5 million Grant and is eligible for additional Equity investment from the EIC Fund for a project that comprises a total investment of €17.5 million.

This funding aims at advancing the Paragon Novel Vaccine (PNV) to first-in-human clinical trials to assess safety, immunogenicity, and early efficacy. With such developments, Immunethep becomes the first company in the world with a multi-bacterial vaccine in clinical trials according to the 2021 WHO vaccine report focusing on WHO's Bacterial Priority Pathogens. This report recommends continuing the development and use of vaccines for some of WHO’s bacterial priority pathogens list as tools to fight the Antimicrobial Resistance (AMR) threat worldwide.

In 2019, a study published by The Lancet estimates that 4.95 million people worldwide died from illnesses in which bacterial AMR played a part. Of those, 1.27 million deaths were the direct result of AMR. If no significant changes occur in the way new drugs are developed to address this silent pandemic, in 2050 AMR will be the largest cause of death in the world, surpassing cancer.

Immunethep is one of the 75 innovative startups selected in this EIC Accelerator cut-off among more than 1000 applications from all over Europe.

Please find the EIC Communication in the following link:
https://eic.ec.europa.eu/news/european-innovation-council-new-wave-deep-tech-start-ups-set-receive#accelerator-grants-and-equity-2022-10-14_en

About Immunethep

Immunethep is a biotechnology company founded in 2013 that is developing anti-bacterial immunotherapies to tackle Antimicrobial Resistance (AMR).

Immunethep has a completely new approach to the problem, based on the discovery of a virulence mechanism that is shared by the most relevant bacteria that cause the most life-threatening infections.

Immunethep has a strong IP portfolio of granted patents covering the discovered mechanism and potential applications, and has in its pipeline two main products addressing 5 different bacteria with alternative strategies:

> PNV, a preventive vaccine, ready for first-in-human clinical trials

> UNImAb, a therapeutic approach using antibodies that is an alternative to antibiotics, is in the development phase with important milestones already achieved.

Find more about Immunethep here: www.immunethep.com

About the European Innovation Council and the EIC Accelerator initiative

The European Innovation Council (EIC) is Europe’s flagship innovation programme to identify, develop and scale up breakthrough technologies and game-changing innovations.

The EIC has been established by the European Commission under the EU Horizon Europe programme. It has a budget of €10.1 billion to support game-changing innovations throughout the lifecycle from early-stage research to proof of concept, technology transfer, and the financing and scaleup of startups and SMEs.

A unique feature of the EIC is that it provides funding for individual companies (mainly startups and SMEs) through both grants and investments. The investments currently take the form of direct equity or quasi-equity investments and are managed by the EIC Fund.

The EIC Accelerator offers start-ups and SMEs grants of up to €2.5 million combined with equity investments through the EIC Fund ranging from €0.5 to €15 million or more. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading experts, corporates, investors, and ecosystem actors.

Find more about the EIC here: https://eic.ec.europa.eu/index_en

Record changed: 2023-06-05

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