Constructing a profitable healthcare startup is fraught with challenges, from navigating regulatory hurdles to securing substantial funding for scientific translation. Whereas early-stage funding in Europe has accelerated, vital gaps stay for bigger capital rounds essential for scientific progress. That is the place programmes like EIT Well being Catapult turn into invaluable, providing a sturdy platform for startups to refine their enterprise fashions and join with key traders.
Pan Most cancers T, a pioneering immunotherapy firm from the Netherlands, has just lately closed a €4.25 million Seed Extension funding spherical. The corporate, which focuses on creating next-generation T-cell therapeutics for hard-to-treat stable tumours, benefited considerably from taking part within the EIT Well being Catapult programme. As a finalist at this 12 months’s well being.tech convention in Munich, Pan-Most cancers T exemplifies the worth that the Catapult programme affords to Europe’s most promising well being tech startups.
The EIT Well being Catapult Programme
The EIT Well being Catapult programme is designed to fast-track Europe’s prime life sciences and well being tech startups. It offers intensive coaching in enterprise modelling, funding deal negotiation, and pitch preparation, enhancing the startups’ credibility and visibility throughout Europe. Individuals pitch their providers or merchandise to worldwide traders and main firms, guaranteeing they’re well-prepared and de-risked.
Every startup advantages from one-on-one mentorship via the supermentor programme, which focuses on refining enterprise plans and pitch methods. These mentors are senior executives from prime healthcare firms and skilled traders. They supply customized consultancy on growing worth for founders and traders, investor negotiations, and exit eventualities.
Roland Kozlowski, Government Chairman of OncoTherics Restricted and a Supermentor from the most recent version, highlighted the worth of this mentorship: “Rachel Abbott, CEO of Pan Most cancers T, was a pleasure to work with; responsive and enthusiastic. Pan Most cancers T’s closure of this financing spherical is a testomony to the standard of the businesses, and their administration, which the Catapult programme attracts and will definitely allow the enterprise to maneuver up the worth chain.”
Pan Most cancers T’s journey and future prospects
In complete, Pan Most cancers T has now secured round €11 million due to the continued assist from their current traders: Van Herk Ventures, Thuja Capital, Swanbridge Capital, and Erasmus MC O&O Holding, plus assist from a brand new investor, InnovationQuarter.
This new funding will enable the corporate to create worth by finishing pre-clinical research and progressing chemistry, manufacturing, and management (CMC) actions for its lead product “PCT1:CO-STIM”. This TCR-T cell product options an IP-protected T cell receptor (TCR) extremely particular for ROPN1, a novel tumor-restricted goal strongly expressed in over 90% of sufferers with triple-negative breast most cancers and melanoma. It additionally incorporates a next-generation modification to counteract the hostile tumour microenvironment, aiming to enhance scientific response period. Moreover, the funding will assist Pan Most cancers T’s development of earlier-stage pipeline tasks focusing on colorectal and ovarian cancers and the event of a second next-generation engineering strategy.
Rachel Abbott, CEO of Pan Most cancers T, emphasised the influence of the Catapult programme on their success: “Securing assist from our new investor, InnovationQuarter, was vital. Collaborating within the Catapult programme helped put together me for this course of. My Supermentor, Roland Kozlowski, offered invaluable recommendation relating to our pitch and general technique. The insights from the pitch coaching periods had been instrumental in our success.”
Do you want to apply too?
The EIT Well being Catapult programme offers high-potential well being startups with visibility and credibility throughout Europe. You may acquire intensive publicity to traders and entry to the EIT Well being community, which is essential for scaling a healthcare enterprise in Europe.
Along with competing for a money prize and EIT Well being co-investment choices, you may have the possibility to win trade prizes value €1 million, together with collaborations with firms like AWS, AstraZeneca, eg expertise and Nasdaq, amongst others. These prizes supply entry to customers, sufferers, and markets, considerably boosting your enterprise prospects.
Purposes for the subsequent version of the EIT Well being Catapult programme are open till twenty ninth August. Should you’re a European well being startup looking for late seed or Collection A investments of at the very least €500k, that is your alternative to speed up your progress within the healthcare sector. Click on right here for extra details about the programme.
