Protinhi Therapeutics, a Nijmegen biotech led by CEO Bernd van Buuren, developed protease inhibitors against viral infections, led by PTL-244 for dengue. Its EIC project, ATLAS, promised "the first-in-class drug to combat the global health emergency of flaviviral infections" and set out to "obtain proof-of-concept in humans by conducting Phase I and Phase IIa clinical trials against the most common flavivirus: dengue", positioning the company for a partnership with firms such as Gilead, J&J or MSD, according to CORDIS.
In May 2023 Protinhi announced a €7.5 million blended award and said it was raising an international Series A, of which "the EIC funding is one part". CORDIS lists a €2,499,999 grant within a €14.47 million project planned from March 2023 to August 2026. The only published report, for March to August 2023, says the company obtained a drug substance and product "fulfilling the criteria to enter the GLP tox studies". On 29 May 2024 the Gelderland court declared Protinhi B.V. bankrupt (case F.05/24/219) and appointed Laurens Sjoerts as curator, according to the curator's firm and Faillissementsdossier. The EIC project was terminated on 10 October 2024.
Company file
- Legal entity
- Protinhi B.V., KvK 58544321, Nijmegen
- Trade names
- Protinhi Therapeutics, Protinhi Pharma and others
- CEO
- Bernd van Buuren
- Lead candidate
- PTL-244, pan-flavivirus protease inhibitor
- Bankruptcy
- 29 May 2024, F.05/24/219; curator Laurens Sjoerts; ended 24 Feb 2026
- EIC project
- ATLAS, 1 Mar 2023, terminated 10 Oct 2024
- EIC funding
- Blended finance
Where Protinhi Stands Now
The bankruptcy was wound up on 24 February 2026 through a binding distribution list, and the case is listed as settled. Protinhi's web domain now shows a placeholder page in Chinese. No buyer for PTL-244 or the company's other programmes has been announced, and no Protinhi human trial has been reported.
"With this financial support we will initiate the clinical development of a novel broad-spectrum antiviral drug which in our view is a gamechanger in future pandemic prevention."
Bernd van Buuren, CEO, Protinhi Therapeutics, May 2023The Science: One Drug for Several Viruses
Dengue, West Nile and Zika belong to the flavivirus family, and the application said more than 40% of the world's population is at risk, with about 395 million infections a year and no effective treatment. Protinhi's approach targeted a viral protease shared across the family. The 2023 report said the company had formulated the compound for a possible single-dose regimen and hoped this would lead to further patents.
What the EIC Project Promised, and What CORDIS Shows
The project promised to finish trial-enabling studies and run Phase I and IIa trials. The public record shows chemistry and manufacturing work in the first six months and nothing after. The EU grant was only 17% of the plan; the rest depended on private equity that the company was still seeking when the award was announced. How much of the grant was paid, and whether any EIC Fund equity was invested, is not public.
- Drug substance and productDeliveredReady for GLP tox.
- GLP toxicologyUnverifiedNot reported.
- Phase I and IIa trialsMissedBankrupt first.
- Series AMissedNever announced closed.
The Money
Curator reports were published, including one in September 2024, but their contents are behind a paywall. What caused the bankruptcy, how much was owed and to whom, and what creditors, including the EU, recovered are not publicly summarised.
What Cannot Be Checked
Questions for the EIC
How much of the €2.5 million grant was paid before the bankruptcy, whether the EIC Fund had invested, whether anything was recovered, and whether the EIC checked that a €14.5 million plan was financed before signing are not public.
Why Europe Should Care
Dengue is spreading, and local transmission has been reported in Europe, Protinhi noted in 2023. A broad-spectrum antiviral would be valuable for pandemic preparedness. The EIC backed a project whose budget was mostly unfunded; when the private money did not come, the company failed within 15 months.
What the project promised
Clinical proof of concept in dengue for the first broad-spectrum flavivirus drug, leading to a pharma partnership.
What the record shows
Six months of chemistry work, bankruptcy in May 2024, a terminated grant and no human trials.
The Verdict
Bankrupt before the clinic
Protinhi collapsed long before reaching the trials the EIC funded. What the public paid and what it recovered are not on the record.
Protinhi's curator and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.
