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Innoup receives €500,000 from the Government to develop a vaccine against COVID-19

The company Innoup from Navarra has obtained a grant from the Center for the Development of Industrial Technology to implement a vaccine based on nanoparticles. Innoup joined other Spanish companies that have received government funding, such as Touchlight. The Basque company also received $591,000 (€500,000) to develop a platform for the rapid production of adeno-associated virus (AAV) vaccine.

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Innoup also joins the list of companies working in research and development in the fight against coronavirus. The company from Navarra, specialized in the development of therapies to fight breast cancer and food allergies, has received $591,000 (€500,000) from the Government, as explained by the management of the company. 

The company will use the funding to develop a new vaccine based on nanoparticles with Sars-Cov-2 inactivated for administration in mucous membranes, as commented by the Spanish startup. Innoup, based in the town of Noain, Navarra, has obtained funding from the Center for the Development of Industrial Technology (Cdti), belonging to the Ministry of Science and Innovation, to help combat the coronavirus pandemic.

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The company focuses on two innovative drugs

Innoup is a biopharmaceutical company dedicated to nanotechnology innovation that develops innovative, safer, and more effective drugs for the treatment of diseases for which there is currently no cure. Innoup is focused on two medicines, one for peanut allergy, and the other for treatment for breast cancer. 

The company bets on its vaccination adjuvant, that is, that some nanoparticles can be introduced with a substance that can act as a vaccine. Innoup makes available its technology to other major groups to advance research. In fact, the company is also focused on the development of two drugs: INP20, a vaccine for peanut allergy, and INP12, an oral treatment for breast cancer. 

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Innoup was funded in 2013 from a research group specialized in nanomedicine from the University of Navarra. Maite Agüeros is the CEO of the company, PhD in Pharmacy and holds a Master in Business Administration and Management, as well as research experience in the area of nanomedicine. Manuel Rodríguez is the CEO and has more than 25 years of experience in the pharmaceutical sector in companies such as Almirall and Novartis. In addition to Agüeros and Rodríguez, the company has Juan Manuel Irache as a director and advisor. Irache has worked in different European universities and was President of the Spanish Society of Industrial Pharmacy. 

Innoup is not the only Spanish company to receive funding from the Government

Innoup joined other Spanish companies that have received government funding, such as Touchlight. The Basque company also received $591,000 (€500,000) to develop a platform for the rapid production of adeno-associated virus (AAV) vaccines based on dbDNA against COVID-19

This company is working on a vaccine project that is sponsored by the Massachusetts Eye and Ear Hospital research center in Boston. Another company that received Cdti’s support was Operon. The Aragonese company, which manufactures rapid tests for human diagnosis, food, and veterinary analysis, obtained half a million euros in the summer to finance research into rapid antibody tests and nose and throat tests for coronavirus.

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Desmond O’Flynn believes in minimalism and the power of beer. As a young reporter for some of the largest national publications, he has lived in the world of finance and investing for nearly three decades. He has since included world politics and the global economy in his portfolio. He also writes about entrepreneurs and small businesses, as well as innovation in fintech, gambling, and cannabis industries.