HAON Secures €10.7M in DTIF Funding to Advance Ground-breaking Cell Therapy for Early Brain Injury

Hypoxic Ischemic Encephalopathy (HIE) is a rare disease that affects 1–3 in every 1,000 births in Europe and the U.S., and up to 1 million babies annually in low-income countries. It remains one of the primary causes of infant mortality and long-term neurological disabilities, including cerebral palsy. 

EIT Health-supported start-up HAON Life Sciences, a leading innovator in cell therapy, has announced that the CanVas consortium—led by HAON—has received a €10.7 million non-dilutive grant from Ireland’s Disruptive Technology Innovation Fund (DTIF).

This funding marks a major milestone in advancing CanVas-001, an allogeneic investigational therapy for neonatal HIE, a rare but devastating brain injury that occurs in new-borns due to a lack of oxygen before or shortly after birth.

The grant will accelerate the clinical development of CanVas-001, a novel cell therapy combining HAON’s proprietary Endothelial Colony Forming Cells (ECFCs) with Mesenchymal Stromal Cells (MSCs). This pioneering therapeutic has already shown significant benefit in preclinical models of early brain injury that may also translate over to a host of adult neurodegenerative diseases.  

HAON Life Sciences was a finalist in the EIT Health Wild Card 2023 programme, which supports breakthrough innovation in healthcare. “HAON Life Sciences participated in our Wild Card Open innovation programme. It’s great to see their progress since then—securing major public funding and building strong partnerships to advance a promising therapy. We look forward to seeing their continued impact in the cell therapy space,” said Marc Butterly, Business Development Lead, EIT Health Ireland-UK. 

The CanVas consortium brings together a multidisciplinary team of leaders across biotech, clinical development, and advanced manufacturing: 

• HAON Life Sciences – Consortium lead, developing the CanVas platform 

• National Institute for Bioprocessing Research and Training (NIBRT) – Providing analytical development 

• Hi-Tech Health – Leading GMP manufacturing for CanVas-001 

• University College Cork INFANT Research Centre – Clinical development expertise, with a focus on neonatal HIE 

HAON Life Sciences co-founders Dr. Moayed Hamza and Mark O’Neill FCA are combining their scientific expertise with business acumen to develop scalable, off-the-shelf therapies derived from healthy placental tissue that would otherwise be disregarded The substantial grant brings a highly innovative technology into Europe and puts Ireland at centre stage for ECFC cell therapy development. With the myriads of potential applications the CanVas platform brings, we believe HAON are well positioned to build a leading biotech company and are advancing discussions with potential partners,” said Mark O’ Neill, FCA – Executive Chairman and Co-Founder. 

What’s Next? 

Having brought the novel cell platform into Europe from Australia, the DTIF grant now allows HAON to further develop CanVas-001 towards clinic with support from the CanVas consortium partners. Their vision for the next 5 years includes expanding the CanVas platform into paediatric and adult indications, scaling manufacturing, and continuing to grow as a leading player in the European biotech landscape.

If you are interested in HAON’s journey or exploring opportunities to collaborate, get in touch – info@haonco.com and follow them on LinkedIn here.

Join us at LSX World Congress 2025 

Mark O’Neill, Executive Chairman and Co-Founder of HAON Life Sciences, will be presenting the innovative CanVas cell therapy platform at the Biotech Showcase during LSX World Congress on 29 April.

As proud sponsors of the event, EIT Health Ireland-UK invites you to connect with our team and explore opportunities to collaborate. Get in touch to schedule a meeting.