European biotech received a confidence boost as the EU’s European Innovation Council (EIC) made a €12.5 million bet on Oncomatryx, a Spanish oncology company developing next-generation antibody-drug conjugates (ADCs). Oncomatryx was awarded a €2.5 million grant plus a €10 million equity investment under the highly competitive EIC Accelerator program. Out of 959 applicants, only 40 companies across 16 countries were selected – and Oncomatryx was the sole oncology company chosen. This sizable investment signals the EU’s strategic interest in ADC technology and its confidence in Oncomatryx’s innovation.
Antibody-drug conjugates marry targeted monoclonal antibodies with potent cancer-killing payloads,
