BunyaVax receives 50.000 euro from the European Commission (EC). The funding proposal of BunyaVax was selected out of hundreds of applications. The grant will be used to prepare the company for co-development partnerships and to upscale the manufacturing process of the Plug and Play vaccine technology.
In February this year BunyaVax submitted its RAPID proposal under the Horizon 2020 SME Instrument scheme. RAPID is brief for RNA particles for Preparedness against Infectious Diseases. Within the scheme, European companies can apply for stage I (50k) or stage II (2.5 million) funding to bring highly innovative developments closer to market. Recently BunyaVax was informed by the EC that the RAPID proposal was selected for funding.
The project duration is six months. Within this period, BunyaVax will explore several methods for upscaled production of its breakthrough vaccines and prepare for industrial partnerships. Upon project completion, BunyaVax can apply for stage II SME Instrument funding.
About the SME Instrument: Small and Medium-sized Enterprises that are EU-based or established in a country associated to Horizon 2020 can get EU funding and support for breakthrough innovation projects with a market-creating potential under revamped SME instrument. The SME instrument will boost fast company growth and market-creating innovation thanks to staged funding and ramped up business acceleration services. Provided with about € 1.6 billion in funding over the period 2018-2020, the SME Instrument will support groundbreaking innovative ideas for products, services or processes that are ready to conquer global markets.The scheme is highly competitive, only a small percentage of all proposals gets funded.
This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 815645