Elicera Therapeutics receives partial payment of 0,5 MEur from EIC
Cell and gene therapy company Elicera Therapeutics has received a partial payment of EUR 500,000 from the European Innovation Council (EIC) under its accelerator program. This is the third of four payments within a funding program that will support the continued clinical development of ELC-301 in the phase I/IIa CARMA study.
Elicera Therapeutics develops treatments based on oncolytic viruses and CAR T cells. Through the company’s immune-boosting and commercially available technology platform iTANK (immunotherapies Activated with NAP for efficient Killing), the company’s candidates are armed with immune-activating properties to enhance their efficacy and trigger a parallel immune response against cancer for a dual attack on tumour cells.
Support for innovative companies
The company has been successful in securing funding, both through capital raising via share issuance and through non-dilutive grants. This time, the cash position is strengthened via the EIC Accelerator Programme, which aims to fund groundbreaking small companies with grants of up to EUR 2.5 million, as well as the opportunity for strategic investments. The selection process is highly competitive, with only 5 percent of applicants receiving funding. Elicera was awarded the funding to further develop its CAR T-cell therapy ELC-301, which is activated with the company’s iTANK platform to enhance immune activation, thereby providing a broader attack against cancer cells.
Partial payment following progress in the CARMA study
The current payment of EUR 500,000 was approved after the company reported progress in its ongoing phase I/IIa CARMA clinical study. The study investigates the safety and efficacy of ELC-301 in the treatment of B-cell lymphoma. “We are pleased with the continued funding provided through the European Innovation Council’s Accelerator Programme”, says Jamal el-Mosleh, CEO of Elicera Therapeutics.
Continued development and future plans
The funds will be used to advance the clinical development of ELC-301.
“The capital will be used for the further clinical development of ELC-301 in our ongoing Phase I/IIa CARMA study, where we have recently made promising observations in the treatment of B-cell lymphoma“, continues El-Mosleh.
The fourth and final partial payment of EUR 375,000 is expected to be disbursed in 2026, based on continued progress in the research.
“We look forward to maintaining a strong dialogue with the agency and reporting additional data ahead of the fourth and final payment next year”, concludes El-Mosleh.
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