Beyond Vaccines: EU Bets €30M on Nasal mRNA for Respiratory Defense

MUNICH, Germany – September 10, 2026 – In a move that signals a significant shift in Europe's public health strategy, Munich-based biotechnology firm Ethris GmbH has secured a €30 million financing agreement from the European Investment Bank (EIB), backed by the European Commission’s Health Emergency Preparedness and Response Authority (DG HERA). The funding is not for another conventional vaccine, but for something potentially more versatile: a portfolio of mRNA-based therapeutics delivered directly to the respiratory system, designed to combat everything from chronic asthma to the next pandemic threat.

At the heart of this investment is ETH47, a first-in-class candidate that uses messenger RNA (mRNA) to prompt the body to produce its own antiviral protein, interferon lambda. Administered via a nasal spray or inhaler, it aims to create an immediate, localized defensive shield at the very point where most respiratory viruses enter the body. This funding, part of the HERA Invest initiative, is a tangible sign of Europe’s commitment to fostering homegrown innovation and building a resilient health infrastructure capable of withstanding future shocks.

A Strategic Investment in Health Sovereignty

This €30 million agreement is more than just a capital injection for a promising biotech; it represents a cornerstone of Europe's post-pandemic playbook. HERA was established in 2021 as a direct response to the vulnerabilities the COVID-19 crisis exposed, with a clear mission: to prevent, detect, and rapidly respond to cross-border health emergencies. HERA Invest, its financing arm, is the mechanism to make that happen, targeting small and mid-sized European companies developing critical medical countermeasures.

The investment in Ethris is a prime example of this strategy in action. It aims to de-risk a crucial stage of development that private markets might find too uncertain, ensuring that technologies with immense public health value don't fall into the so-called “valley of death” between lab research and commercial viability. By providing non-dilutive venture loans, the EIB and HERA can nurture innovation without forcing startups to cede significant equity, helping them scale while retaining European control.

“Through our cooperation with HERA, this financing contributes to strengthening Europe’s preparedness for future health threats,” commented Nicola Beer, European Investment Bank Vice President. “This investment also demonstrates our broader commitment to strengthening Europe’s pharmaceutical and biotechnology ecosystem, supporting health innovation, resilience and pandemic preparedness.”

The strategic thinking behind the investment was further articulated by Laurent Muschel, Deputy Head of DG HERA. He praised Ethris for unlocking the potential of mRNA technologies to be more stable and easier to administer. “It is also proposing to fight the infectious agents with a therapeutic targeting the host system rather than the pathogen directly, which may allow to fight several virus families rather than focusing on one pathogen at a time,” Muschel added. This host-targeted approach is precisely the kind of forward-thinking platform technology that Europe needs to prepare for unknown future pathogens, often referred to as 'Disease X'.

Redefining Respiratory Treatment with mRNA

While the pandemic made mRNA a household name through vaccines, Ethris is pioneering its therapeutic application. ETH47 doesn't train the adaptive immune system to recognize a specific virus. Instead, it turns cells in the nose and lungs into on-demand pharmacies that produce interferon lambda, a naturally occurring protein that serves as the body’s first line of defense against viral invaders. This mechanism triggers a broad, non-specific antiviral state, effectively fortifying the gates before the enemy has a chance to breach them.

This approach has two profound implications. First, it offers a new weapon for patients with chronic respiratory diseases like asthma and Chronic Obstructive Pulmonary Disease (COPD). For millions, a common cold can trigger a severe exacerbation, leading to hospitalization and long-term lung damage. As current treatments don't address these viral triggers, ETH47 could fill a massive unmet medical need.

“EIB’s financing under HERA Invest will enable us to provide further clinical proof of concept of our novel approach targeting viral threats at the point of entry,” said Carsten Rudolph, Ph.D., Chief Executive Officer and Co-Founder of Ethris. He underscored the platform's potential “to improve lives not only through prevention of exacerbations in chronic respiratory conditions like asthma and COPD, but also by preventing viral transmission.”

Second, because it targets the host’s immune response rather than a viral protein, the therapy is inherently broad-spectrum and mutation-independent. Whether it's a new strain of influenza, a resurgent coronavirus, or a completely novel pathogen, the interferon-based defense works the same way. This makes it a powerful tool for pandemic preparedness. The technology is made possible by Ethris’s proprietary platforms: Stabilized Non-Immunogenic mRNA (SNIM®RNA) and a Stabilized NanoParticle (SNaP®) delivery system, which ensure the therapeutic molecules reach their target safely and effectively.

From Pioneer to Key Player in Europe's Biotech Race

With over a decade of experience, Ethris is no newcomer to the mRNA field. The company has been quietly honing its expertise in delivering RNA directly to the respiratory system, a technically challenging feat. This €30 million in funding serves as both validation and fuel, allowing the company to accelerate its lead candidate, ETH47, from its current Phase 2a trial into larger, more definitive Phase 2b studies in both asthma and COPD patients.

This public-sector investment places Ethris in a unique position within the competitive global biotech landscape. While many firms rushed to develop mRNA vaccines, Ethris maintained its focus on therapeutic applications, building a deep specialization in respiratory diseases. This focus is further evidenced by its leadership in other initiatives, such as the NOFLU consortium, which is developing an mRNA-based mucosal vaccine against pandemic influenza. The goal there, as with ETH47, is to generate a powerful immune response at the site of infection to block transmission.

The financing from HERA Invest is a powerful endorsement, signaling that European institutions see Ethris not just as a company with promising science, but as a strategic asset in the continent's quest for health security. It’s a tangible step toward ensuring that the next generation of critical medical breakthroughs are developed and, if needed, manufactured on European soil.

This convergence of public funding and private innovation marks a pivotal moment. The road from a Phase 2 trial to an approved medicine is long and fraught with challenges, but the investment provides Ethris with a clear runway to gather critical data. The project embodies a dual promise: offering near-term hope to those suffering from chronic lung diseases while simultaneously building a forward-looking defense against the pandemics of tomorrow.