2018-08-23 08:55Press release

SmiLe companies advance in EU competitions arranged by EIT Health

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:

  • Seven regional competitions in which the best companies from each region, including Scandinavia, France and Spain, advanced to the European competition.
  • The European competition, for which a total of 42 companies have now advanced from the regional competitions to the semifinals in Biotech, Medtech and Digital Health.
  • In the semifinals, the best 21 companies will be selected from the 42 competitors to advance to the finals. The semifinal in Biotech will be held September 24-26 in Leuven, Belgium.
  • The finals will be held December 4-5 at the EIT Health Summit in Lodz, Poland. The top three companies in each of the three categories will be awarded prize money, €20,000, €15,000 and €10,000, respectively. They will also have the opportunity to pitch their companies to top-level seed and series A investors.

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/

For information about SmiLe Incubator, contact: Ebba Fåhraeus, CEO at SmiLe Incubator
+46 (0)734000433, 
ebba@smileincubator.life ; Or visit our mediaroom

Language: English

About SmiLe Venture Hub – Pioneering Life Science Innovations

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