• Posted 02-Jul-2021

The European Innovation Council Fund invests €12 million to support Xenothera in the development of COVID19 treatment.

The EIC Fund is financing the development of a new therapeutic approach against SARS-CoV-2.

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.

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).

Source: European Commission I European Innovation Council (https://bit.ly/3h40BiU)