Integra Therapeutics Secures 10.5 Million Euros from EU's EIC Accelerator
Integra Therapeutics, a Barcelona-based biotech company, has successfully obtained funding of up to €10.5 million from the European Innovation Council (EIC) Accelerator, facilitated by the EU. This comprises a €2.5 million grant and up to €8 million in equity. Established in 2020 by Dr. Marc Güell and Dr. Avencia Sánchez-Mejías, Integra's innovative FiCAT technology aims to address current constraints in gene writing.
The initial €2.5 million allocation will be directed towards pre-marketing endeavors for the FiCAT platform, with a specific focus on cell therapies for rare diseases, autoimmune diseases, and oncology. Additionally, Integra plans to utilize the funds to develop a gene therapy for a severe pediatric hepatic disease using non-viral vectors. Dr. Sánchez-Mejías emphasized the pivotal role of this funding in advancing their primary therapeutic product into preclinical and clinical phases.
The latest round of the EIC Accelerator will disburse an estimated €411 million, with €165 million in grants and €245 million in equity. Notably, 21% of the assisted companies are spearheaded by women, a ratio that Dr. Sánchez-Mejías views as an encouraging starting point with potential for further enhancement. Integra also has intentions to extend the application of FiCAT to additional indications and engage in collaborative efforts to introduce new therapies, thereby broadening their impact within the patient community.
Key Takeaways
- Integra Therapeutics secures €10.5 million from the EU's EIC Accelerator.
- Funding comprises a €2.5 million grant and up to €8 million in equity.
- Integra plans to utilize initial funds for pre-marketing activities of the FiCAT platform in cell therapies.
- Company aims to develop its first gene therapy for pediatric hepatic disease utilizing non-viral vectors.
- Integra also intends to expand the FiCAT platform to extra-hepatic indications and collaborate on the development of new therapies.
Analysis
Integra Therapeutics' infusion of funding from the EU's EIC Accelerator is poised to expedite the advancement of its FiCAT platform, exerting a significant influence on the cell therapy markets and treatments for rare diseases. The combination of grant and equity support is likely to attract increased investment and foster partnerships, thereby strengthening Integra's position in the market. In the short term, Integra's emphasis on pre-marketing activities and therapy for pediatric hepatic diseases may potentially disrupt existing gene therapy methodologies. Over the long term, the extension to additional indications could expand the utility of FiCAT, potentially revolutionizing gene editing technologies. Furthermore, this funding serves as a testament to the EU's dedication to bolstering innovative biotech ventures, especially those led by diverse teams.
Did You Know?
- FiCAT (Functionalized CRISPR-Associated Technology):
- FiCAT is Integra Therapeutics' proprietary technology, designed to enhance the precision and efficiency of gene writing, a critical component in gene therapy. It builds upon CRISPR-Cas systems, renowned for their gene editing capabilities, by introducing modifications that enhance accuracy and versatility, potentially overcoming existing limitations in gene editing.
- Non-viral vectors in gene therapy:
- Non-viral vectors play a vital role in delivering therapeutic genes into target cells without relying on viruses, which are commonly utilized in gene therapy for their inherent capability to integrate genetic material into cells. Non-viral methods offer advantages such as reduced immunogenicity, decreased risk of insertional mutagenesis, and scalability, making them well-suited for specific therapeutic applications such as the pediatric hepatic disease targeted by Integra Therapeutics.
- European Innovation Council (EIC) Accelerator:
- The EIC Accelerator is a funding program established by the European Union to support exceptional innovators, startups, and small and medium-sized enterprises (SMEs) demonstrating potential for high growth and internationalization. It provides a mix of financial support, including grants and equity, to aid these entities in developing and launching their groundbreaking innovations to market. This program is particularly focused on pioneering, market-creating innovations across various sectors, including biotechnology.