The two SmiLe companies Gedea Biotech and Sinntaxis have advanced to the semifinals in the EIT’s European Health Catapult, a multi-step competition for startup companies. The EU arranges the competition to find the best European innovations in health and to boost their commercialization. The final round includes investor meetings and prize money.
ReceptorPharma, also a SmiLe company, won a prize in a separate EIT program, the EIT Smart Ageing Camp. The prize includes participation in a four-week business development accelerator along with a four-week roadtrip to meet investors, all at no cost to the company.
“The opportunity to compete against the best companies in Europe and to be exposed to Europe’s investor elite is extremely valuable for the development of these companies,” says Ebba Fåhraeus, CEO of SmiLe Incubator.
The companies Gedea Biotech and Sinntaxis have advanced in the EU competition EIT European Health Catapult and are now in the semifinals, after competing in several steps:
ReceptorPharma also advanced after the regional finals in another category and has also already won a prize: intensive training in business development and a roadshow to meet European investors.
The semifinals for Gedea Biotech and Sinntaxis will be held in Leuven in September in the Biotech category. The companies will participate in an intensive two-day business development event at which personal mentors (experienced entrepreneurs, investors and experts in each area) will help the companies to enhance their value by fine-tuning their business plans, negotiation skills and pitches.
On the third day the companies will meet a wide range of international investors to discuss potential funding opportunities.
"We are extremely proud of these companies, which have developed in such a short period of time and are now able to compete in the European arena. The successes of these companies to date show that life science research and entrepreneurship in our region maintain an extremely high standard. And it is extremely valuable for these early companies to gain broad exposure – just as important as obtaining various types of funding,” says Ebba Fåhraeus, CEO of SmiLe Incubator.
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 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. Contact: Zacharia Ressaissi, CEO, phone +46 (0)735-308555, www.receptorpharma.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:
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.europeanhealthcatapult.eu/the-journey/semi-finals/
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