Step Pharma has secured a €2.5 million blended finance grant from the European Innovation Council under the EIC Accelerator programme, with the award also including the potential for up to €10 million in equity investment. The funding will support the continued development of the company’s lead product, dencatistat, a first-in-class, highly selective, orally bioavailable CTPS1 inhibitor, for CTPS2 null ovarian and endometrial cancers.
The France-based biotechnology company is focused on CTPS1 inhibition as a targeted cancer treatment strategy. All cancers rely on a steady supply of CTP to proliferate, a process driven by two isoenzymes, CTPS1 and CTPS2. When cancer cells lose CTPS2, they develop a synthetic lethal dependency on CTPS1. By selectively inhibiting CTPS1, Step Pharma aims to eliminate CTPS2 null cancer cells while sparing normal tissues, potentially delivering efficacy without significant toxicity.
Dencatistat is currently being evaluated in a phase 1a dose escalation study in patients with solid tumours. This study is expected to be followed by safety expansion cohorts in patients with CTPS2 null cancers, including ovarian and endometrial cancers, where CTPS2 loss is observed in approximately 15–20% of cases. Enrollment for these expansion cohorts is anticipated to begin later in 2026, with an additional cohort planned in CTPS2 null lung cancer.
The EIC Accelerator funding will support pivotal activities, including expanding the phase 1b trial into CTPS2 null ovarian and endometrial cancer cohorts and preparing for phase 2 studies in gynaecological cancers. This preparation work will include drug manufacturing and pivotal toxicology studies. In addition to financial backing, the award provides access to EIC Business Acceleration Services, offering strategic guidance, networking opportunities, and investor connections.
The grant follows a period of clinical and corporate momentum for Step Pharma. In October 2025, the company completed a €38 million Series C financing led by V-Bio Ventures. It also appointed Dr. Karen Smith as chief medical officer and initiated its third clinical programme for dencatistat in essential thrombocythaemia. Beyond solid tumours, dencatistat is being evaluated in a phase 1/2 clinical trial for adult patients with relapsed or refractory T or B cell lymphoma, and received orphan drug designation from the US Food and Drug Administration for the treatment of T cell lymphoma in May 2025.
The EIC Accelerator is designed to support breakthrough innovations with the potential to create new markets or disrupt existing ones through a combination of grants and equity investments. The blended finance award underscores confidence in Step Pharma’s precision oncology approach targeting the synthetic lethal dependency on CTPS1 in CTPS2 null solid tumours.
KEY QUOTE:
“Being selected for an EIC Accelerator award is an important validation of our precision oncology approach targeting the synthetic lethal dependency on CTPS1 in CTPS2 null solid tumours. Building on strong momentum across our three clinical programmes, this award will enable us to advance dencatistat into expansion cohorts in ovarian and endometrial cancer, gynaecological indications where initiatives such as the EIC Accelerator can play a key role in improving outcomes. We look forward to working with the EIC as we continue to drive a step change in the way cancer is treated.”
Andrew Parker, Chief Executive Officer, Step Pharma
