Today two SmiLe Incubator companies, Gedea Biotech and Sinntaxis, are competing in the final round of the EIT European health catapult, during which the best European startup companies in health will be chosen.
The path to the final has been a success: three SmiLe companies moved on from a total of about ten Nordic companies; two SmiLe companies advanced in competition with 42 European companies from the semifinals to today’s final, while the third SmiLe company, ReceptorPharma, won the prize in the category EIT Smart ageing camp.
The EU arranged the competition to find the best European innovations in health, and to boost their commercialization. The finals are being held today, December 4, at the EIT Health Summit in Lodz, Poland.
Prizes will go to the top three European companies in each of the three categories Biotech, Medtech and Digital Health. They will be awarded prize money, EUR 20,000, EUR 15,000 and EUR 10,000, and they will also have the opportunity to pitch their companies to top-level seed and series A investors.
The competition has been held in steps and the companies have received support both from mentors and with funding of commercial corporate activities on the path to the final.
Operations at both Gedea Biotech and Sinntaxis are based on research at Lund University.
“Succeeding so well in competition with the best companies in Europe is an outstanding accomplishment for Sinntaxis and Gedea. These companies are relatively new in the incubator and are examples which demonstrate that SmiLe’s methodology – a strong focus on companies verifying their product in relation to the market at an early stage and speaking with stakeholders in the value chain – results in rapid acceleration of the companies’ development. Their achievements also reflect the extremely high standard of research at Lund’s university,” says Ebba Fåhraeus, CEO of SmiLe Incubator.
Sinntaxis and Gedea Biotech are members of SmiLe Incubator, a business incubator in the life sciences that helps entrepreneurs to commercialize their ideas by offering business advisory services, laboratories and networks. The companies are also in LU Holding’s business portfolio. www.smileincubator.life www.innovation.lu.se
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.
Contact: Michael Oredsson, CEO, phone +46 (0)707-188930, www.sinntaxis.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.
Contact: Annette Säfholm, CEO, +46 (0)708-918681, www.gedeabiotech.com
About EIT Health: EIT Health – Together for healthy lives in EuropeEIT Health is a high-quality European network with more than 140 partners from industry, academia, and payers/providers of health care in Europe. Region Skåne is a Core Partner since 2018, which gives companies with a relation to the regional innovation system an opportunity to seek funding for international growth. Innovation Skåne is responsible for the program's coordination in the region. For more information, see eithealth.eu or contact email@example.com
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 MEUR 210 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 is a non-profit organization and 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 MEUR 570. www.smileincubator.life