Protinhi and the EIC Accelerator: A Dengue Drug That Went Bust

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.

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.

The 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.

1. Drug substance and productDeliveredReady for GLP tox.
2. GLP toxicologyUnverifiedNot reported.
3. Phase I and IIa trialsMissedBankrupt first.
4. 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

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 €14.5 million project to which the grant contributed €2.5 million. The company was declared bankrupt within 15 months, and the cause is not publicly summarised.

The Verdict

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.