Exogenus Therapeutics (Exo-T) is one of the selected SMEs to receive support from the European Commission under the Horizon 2020’s SME Instrument Phase 1.
With the SME Instrument, the European Commission aims to support high growth, highly innovative European SMEs with global ambitions and with a mission to disrupt existing markets. This is a highly competitive instrument, and Exo-T was hand-picked out of 1938 companies who applied in the September 2016 cut-off date, to receive the €50,000 Phase 1 support. The funding is going to be used in developing a feasibility study for the project, namely to better define the clinical development plan and business model. Exo-T’s objective is to apply to Phase 2 and try to obtain funding to support the project’s next phases of development.
Out of the 189 selected SMEs, 12 are Portuguese, and of those more than half are from the Health sector, aiming to solve diverse problems that modern societies face. This was Portugal’s most successful Phase 1 results ever, with a significant contribution of the 100% approval rate of the health related projects.
The international recognition from the European Commission, distinguishing the most innovative and disruptive European SMEs, makes us very proud and more confident that our project has great potential to move forward and to solve the global problem of chronic wounds. We believe, having so many health related projects approved in this SME Intrument Phase 1 call is also a big achievement for Portugal, and will decisively contribute to the international recognition as an innovative country in this area.
Find more about Horizon 2020’s SME Instrument Phase 1 here.