Herantis and the EIC Accelerator: A Parkinson's Drug Nears Phase 2

Herantis Pharma, based in Espoo and whose shares have traded on Nasdaq First North in Helsinki since June 2014, according to its investor page and the law firm Krogerus, is developing HER-096, a small peptide injected under the skin that is meant to slow or stop Parkinson's disease. Its EIC project aimed "to advance HER-096 project towards Phase 2 clinical trials" through biomarker selection, preclinical safety studies, a better formulation and partnering talks, with the wider goal of clinical proof of concept to enable "out-licensing HER-096 to a global industry partner", according to CORDIS.

The European Innovation Council granted €2,500,000 towards a €4.08 million project from May 2023 to April 2025, and in 2023 the EIC Fund signed a term sheet making Herantis "eligible for up to EUR 15 million in direct equity investments", according to its partnerships page. The final report says new biomarker candidates were identified, the injection volume was cut to a third, chronic toxicity studies ran until August 2025 and "around 50 companies" were waiting for trial data. In October 2025 Herantis reported that its Phase 1b trial, funded separately by The Michael J. Fox Foundation and Parkinson's UK, met all its safety endpoints and confirmed the drug reaches the brain in patients.

Where Herantis Stands Now

In the first half of 2026 Herantis reported Phase 1b biomarker data showing "a clear biological response", raised €4.2 million in a directed share issue, and was selected to lead a consortium awarded an €8.0 million Horizon Europe grant for the Phase 2 trial, according to its half-year report. It also had positive pre-IND feedback from the US FDA and appointed a contract research organisation for Phase 2. It has not announced a licensing partner.

The Technology: A Mimic of a Nerve-Protecting Protein

HER-096 imitates the protective mechanism of cerebral dopamine neurotrophic factor (CDNF). The company says it reduces cellular stress, prevents harmful protein clumps and dampens inflammation, and, unlike CDNF itself, reaches the brain after an injection under the skin. The Phase 1b trial gave 24 patients twice-weekly doses for four weeks; the company says a 300 mg twice-weekly regimen suits Phase 2, according to its clinical trials page.

What the EIC Project Promised, and What CORDIS Shows

The grant's specific aims, biomarkers, safety studies, formulation and partnering, were largely met, though the toxicity studies ran beyond the project end. Its broader aim of clinical proof of concept and out-licensing has not been reached: Phase 2 has not started and no licence deal exists. CORDIS lists the project as closed.

1. Biomarker selectionDeliveredCandidates identified.
2. FormulationDeliveredVolume cut to a third.
3. Chronic toxicity studiesLateRan to August 2025.
4. Out-licensingNot yetNo partner announced.

The Money

Herantis lost €6.62 million in 2025 and €3.32 million in the first half of 2026. Its equity was minus €1.69 million at the end of 2025 and minus €0.80 million in June 2026, with €3.5 million in cash and securities. The half-year report says the EIC Fund had invested €4.2 million of its allocation by June 2026, but that cash "only provide[s] runway until end of 1H 2027", which it calls "a material uncertainty" for the company's survival, and that it "will require additional capital to launch the Phase 2 clinical trial".

What Cannot Be Checked

Why Europe Should Care

The report says Parkinson's affects 1.2 million people in the EU and costs €14 billion a year, with no drug that slows it. The EIC and Horizon Europe are now both backing HER-096. Whether the drug works will only be known after a Phase 2 trial that is not yet fully funded.

The Verdict

Herantis Pharma and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.