The Fongit Innovation Fund rewards three deeptech start-upsWednesday 5 October 2022
The Fongit has announced the latest beneficiaries of the FIF. Geneva-based start-ups EBAMed and Terapet have been awarded a seed loan of CHF 100,000, while iOnctura received a growth loan of CHF 400,000.
The Fongit Innovation Fund (FIF) is the instrument for fostering innovation and the scale up of promising companies from the Canton of Geneva at the service of the United Nations (UN) Sustainable Development Goals (SDGs). The FIF is supported by the State of Geneva, the Geneva Chamber of Commerce (CCIG), International Trade Center (ITC) and UN Environment. Last week, three Geneva-based start-ups were awarded FIF support:
iOnctura, a spin-off of Merck, aims to uncover the key to unlock difficult to treat tumors burdened by stroma and immune mediated resistance. iOnctura has a pipeline of carefully selected assets licensed from Merck and Cancer Research UK. The start-up demonstrated innovation, through pioneering scientific research, in collaboration with world renowned collaborators and uncovering new ways to exploit new and emerging mechanisms of action. For the first time since its launch, FIF granted the growth loan in the maximum amount of CHF 400,000 to iOnctura.
EBAMed develops innovative solutions for non-invasive and automated treatment of heart arrhythmias by using proton therapy (external beam ablation). The company is currently developing a medical device to enable non-invasive heart motion imaging and real-time synchronization of the therapeutic beam. This device consists of both hardware and software components and expands treatment possibilities for existing proton therapy centers, enabling them for the first time to treat heart patients. EBAMed has been endorsed by the EU funding program and the 100 Top Swiss Startup Award.
Terapet is a CERN start-up that works on improving a breakthrough proton therapy for cancer treatment. Proton therapy is an advanced form of radiotherapy for cancer treatment that can target tumors with extreme precision, leaving healthy cells near the tumor unharmed. The start-up has been endorsed by the EU funding program and it is part of the 100 Top Swiss Startup Award.