With an investment of €10 million, in addition to €2.16 million grant trough the EIC Accelerator, the EIC Fund shows how Europe can contribute to scaling up world class companies in cutting-edge fields.
The anti-COVID19 treatment, XAV-19, is based on a unique patented antibody production technology. Xenothera’s technology and therapeutic approach, based on polyclonal antibodies, is a promising turning point in the battle against the global pandemic.
Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth said:
“The EIC Fund aims at backing European innovators in scaling their journey, and Xenothera is a great example of how the European Union is helping top innovators unfold solutions to tackle the COVID-19 pandemic. The EIC Fund's ambitious commitment, alongside other investors, is an important step to boost Xenothera in their development of an antibody treatment for COVID-19 infection.
This investment is part of the recently announced €500 million equity investments in breakthrough innovations by the EIC Fund. Since its launch in 2020, the EIC Fund has now approved 111 investments in highly innovative start-ups and small and medium-sized businesses (SMEs).
XENOTHERA received the Rapid Scientific Advice of the European Medicines Agency (EMA) for XAV-19 Market Authorisation. The Committee for Medicinal Products for Human Use (CHMP) globally endorsed the approach presented by XENOTHERA, particularly the quality of XAV-19, the validity of preclinical and toxicology data, and the overall approach of the clinical development plan of XAV-19.
- Publication date
- 29 June 2021
- European Innovation Council and SMEs Executive Agency