Gedea Biotech, ImmuneBiotech, ReceptorPharma and Sinntaxis are among the ten companies that have successfully advanced from the Scandinavian selection in the innovation competition “The European Health Catapult Business Plan Competition.” Their businesses have attracted the attention of European innovation developers. Today they are presenting their pitches to a European jury.
The competition is being arranged by EIT Health, the European Institute of Innovation and Technology and its health department.
Ten small companies advanced from the Scandinavian regional competition and four innovative companies from Lund managed to secure places among them. The companies, which have already garnered attention several times over the past year in innovation competitions and from Vinnova, which has provided them with support, are: Gedea Biotech, ImmuneBiotech, Receptor Pharma and Sinntaxis.
Today, Friday, they will present a five-minute pitch to a jury, along with many other companies selected from other regions in Europe. The jury will then choose 14 European companies from each industry – biotech, medtech and digital health – to participate in the European Health Catapult accelerator.
After completing training in the accelerator, the companies will travel around and meet with European investors. The company that wins in the final competition will also receive a large cash prize.
“This shows that life science research and entrepreneurship in our region maintain an extremely high standard when such a large proportion of the selected companies come from Lund. And it is extremely valuable for these early companies to gain broad exposure – just as important as obtaining various types of funding. The European Health Catapult can provide the companies with both,” says Ebba Fåhraeus, CEO of SmiLe Incubator in Lund.
About the companies:
About Sinntaxis: Sinntaxis is developing a drug that will be used during rehabilitation following stroke to enable patients to regain lost brain function. No similar drugs are available for these patients at this time. www.sinntaxis.com
About ReceptorPharma: ReceptorPharma is developing a new Alzheimer’s drug with a brand new mechanism of action. The company will use research on specific associations between genes and disease and the most common receptor family in the body, G protein-coupled receptors. www.receptorpharma.com
About ImmuneBIotech: ImmuneBIotech discovers and develops novel probiotics with therapeutic effect, each one based on carefully selected mixtures of various lactic acid bacteria. The first product will be able to provide relief for IBS www.immunebiotech.com
About Gedea Biotech: Gedea Biotech is developing a new treatment method for vaginal infections. Vaginal infections can be caused by both bacteria and fungi and Gedea’s treatment is expected to be highly efficacious for treating both conditions. In the fall of 2018 the first clinical study will be conducted using GDA001 in patients with vaginal fungal infections. www.gedeabiotech.com
About EIT Health:
The EU established EIT Health to stimulate entrepreneurship and innovations that can make it easier for more people to enjoy an active life throughout their lives, especially since the EU has an increasingly aging population. https://www.eithealth.eu/business-plan-competition
SmiLe is a life science business incubator based in Medicon Village in Lund. SmiLe Incubator helps entrepreneurs to commercialize their ideas. There are currently more than 20 companies in SmiLe, which together with alumni companies have attracted more than SEK 2,000 million in venture capital to date since 2014. SmiLe offers business coaching, a large network of contacts in our community, and our many well-equipped laboratories, unique of its kind in Sweden. SmiLe receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe’s listed alumni companies currently have a market capitalization of almost SEK 6 billion. www.smileiincubator.life