Herantis Pharma: Signed grant agreement with European Innovation Council (EIC) - Redeye

Redeye endorses today’s news that Herantis has signed the grant agreement with the European Innovation Council (EIC) Accelerator. Herantis will receive EUR2.5m in grant funding and is eligible for up to EUR15m in direct equity investment from the EIC fund. We see this both as a validation of the quality of the science within Herantis and as a welcome capital injection, which further demonstrates the company’s strong ability to raise capital in an efficient manner. Herantis states that this will enable the company to start preparations for the next development phase sooner than anticipated. Following the announcement in December, we have assumed that the company will receive the grant and make no immediate adjustments. Looking forward, we think it will be interesting to follow the negotiations ahead regarding a potential equity investment - which further could support the company's critical journey ahead.

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