Canopy Receives €2.4 Million Non-Dilutive Grant and €10 Million Equity Investment to Advance MGAC-007 for Myasthenia Gravis
June 22, 2026
Canopy Immunotherapeutics today announced that it has been awarded €12.4 million through the European Innovation Council (EIC) Accelerator, including a €2.4 million non-dilutive grant and a €10 million equity investment.
The EIC Accelerator is among Europe's most competitive innovation funding programs, supporting breakthrough technologies with the potential to create significant societal and economic impact.
The funding will support the advancement of MGAC-007, Canopy's lead therapeutic candidate for Myasthenia Gravis, an autoimmune disease driven by pathogenic autoantibodies targeting the acetylcholine receptor. MGAC-007 is based on Canopy's proprietary Antigen-Drug-Conjugate (AgDC) technology and is designed to selectively eliminate both disease-causing autoantibodies and the autoreactive B cells that produce them, while preserving protective immune function.
Unlike current therapies that broadly suppress the immune system or target only a single component of disease pathology, MGAC-007 is designed to address both key drivers of disease in a single molecule. This differentiated "2-in-1" approach has the potential to provide a highly targeted, non-immunosuppressive treatment option for patients with antibody-mediated autoimmune diseases.
"We are honored to receive this support from the European Innovation Council," said Dr. Kfir Oved, Founder and Chief Executive Officer of Canopy Immunotherapeutics. "The EIC Accelerator award provides strong validation of MGAC-007, our lead program for Myasthenia Gravis, as well as the broader potential of our AgDC technology. This funding will enable us to accelerate development toward the clinic and expand the application of our platform to additional autoimmune diseases."
In addition to supporting the advancement of MGAC-007, the award further validates Canopy's AgDC platform, which may be applied across a broad range of antibody-mediated autoimmune diseases characterized by pathogenic autoantibodies and autoreactive B cells.
The EIC Accelerator award follows a highly competitive selection process and represents a significant endorsement of Canopy's science, development strategy, and potential to transform the treatment of autoimmune diseases.
The European Innovation Council's official announcement can be found here: EIC Official Announcement
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Canopy’s first-in-class Antigen-Drug Conjugates (AgDCs) are designed to redefine treatment of antibody-mediated autoimmune diseases by replacing chronic immunosuppression with targeted immune reprogramming aimed at durable, disease-modifying, symptom-free remission.
