Nectin Therapeutics Ltd. (" Nectin "), the parent company of Guangzhou Nectin Pharma Ltd. has been selected as one of the 42 recipients of EIC funding in the 2023 EIC Accelerator from a competitive field of 1,083 proposals and 242 companies that were reviewed. 

Nectin  has been awarded a highly lucrative non-diluting €2.5 million grant first and potentially match up to €15 million in the next equity round of the company. The 42 selected companies will together receive up to €285 million in funding. A large majority of selected companies (62%) will receive the blended finance option, which is a combination of grants and equity investments. The equity investments will be made through the EIC Fund as the dedicated investment fund for EIC Accelerator companies, and which attracts other investors to increase the overall investment to over three times the EIC investment on average.

This grant highlights the promise of Nectin’s innovative #cancerimmunotherapy pipeline and look forward to Nectin accelerating its program outcome for patients in need.

Background: 

Nectin
Nectin established a company in August 2023 in Guangzhou International Bio-Island - Guangzhou Nectin Pharma Ltd. (the "Company"). Guangzhou Sino-Israel Bio-Industry Investment Fund invested RMB 71.776 million in the company by means of capital increase and share expansion in October 2023, and held 49% of the shares.

European Innovation Council Accelerator (EIC Accelerator)

A highly competitive programme of the European Commission, is a funding programme under Horizon Europe that offers support to start-ups, mentoring and business acceleration services to innovative SMEs with global ambitions. 

Companies selected under the EIC Accelerator program are evaluated by experienced investors and entrepreneurs in accordance with a rigorous process for their excellence, impact and level of risk. 

The program offers pure grant support as well as support in the form of mixed financing (combining grants and equity), mainly for start-ups and SMEs with grants and investments (up to €2.5 million) managed by the EIC Fund and equity investments of €500,000 to €15 million or more through the EIC Fund. In addition to financial support, all projects benefit from a range of business acceleration services that provide opportunities for leading expertise, businesses, investors and ecosystem players.