Theramir Secures €525,000 To Propel Cancer Therapy To Clinical Phase

In a significant boost to its pioneering cancer treatment research, Theramir has successfully raised €525,000 in a bridge funding round. This capital injection is poised to support the company’s operations through the latter half of 2025, targeting a critical milestone: the initiation of clinical trials for their innovative therapy, EVmiR.

EVmiR, now patented by the European Patent Office, represents a novel approach in cancer treatment. By utilising extracellular vesicles (EVs) to deliver microRNAs (miRNAs) directly into tumours, Theramir aims to target oncoproteins—key regulators of cancer cell growth. This precision method promises fewer side effects compared to traditional treatments such as chemotherapy. The company’s technology has demonstrated efficacy in treating metastatic breast cancer and is now being tested for pancreatic and bladder cancers.

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Theramir, co-founded by Marianna Prokopi-Demetriades and Costas Pitsillides in 2016, emerged from a passionate pursuit to find a cure for cancer. Their unique technology capitalises on EVs’ natural ability to transport biological information, essentially turning them into couriers that deliver tumour-suppressive messages via miRNAs. This method requires a detailed genetic profile of the patient to enhance the therapy’s precision and effectiveness, potentially offering prophylactic benefits by identifying genetic markers linked to high-risk conditions.

The latest funding round saw participation from notable investors, including Yannos Palate, a former executive at Eli Lilly, who will join Theramir’s advisory board. His extensive experience in life sciences and pharmaceutical engagement is expected to be instrumental in forging strategic partnerships with major pharmaceutical companies. Other investors include Nicosia-based family office Exerte Partners and finance and corporate lawyer Nancy Erotocritou.

Despite the challenges posed by the limited local life-sciences ecosystem in Cyprus, Theramir has managed to attract significant investor interest, raising €2.5 million in total, including €300,000 in grants. The company’s innovative approach and lower research costs compared to major biotech hubs like Boston or London have contributed to its success.

Looking ahead, Theramir is actively seeking a licensing deal with a major pharmaceutical firm to support the clinical trials, which could span up to seven years. The co-founders are optimistic about expediting the timeline through process efficiencies, projecting a market-ready therapy by 2030. In the interim, they are also exploring new revenue streams, such as using EVmiR to treat chronic malignant wounds through a project named MIRACULOUS, which has secured additional funding.

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Cyprus Government Surplus Rises To €1.61 Billion In First Nine Months Of 2026

by THEFUTURE.TEAM

November 5, 2026

Cyprus recorded a general government surplus of €1.61 billion in the first nine months of 2026, equal to 4.0% of gross domestic product, as revenue growth outpaced the rise in public spending. Higher receipts from income taxes, social contributions and value-added tax (VAT) drove the improvement, while lower capital expenditure helped restrain spending.

Preliminary figures released Tuesday by the Statistical Service of Cyprus show the surplus rose to €1.17 billion, or 3.0% of GDP, up from € 442.1 million in the same period of 2025.

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Total government revenue increased 6.5% to €12.09 billion, while expenditure rose 2.9% to €10.48 billion.

Key Fiscal Measure	January–September 2025	January–September 2026
Total revenue	€11,353.9 million	€12,091.8 million
Total expenditure	€10,186.2 million	€10,482.1 million
Government surplus	€1,167.6 million	€1,609.7 million
Surplus as a share of GDP	3.0%	4.0%

Income Taxes And VAT Lead Revenue Growth

Taxes on income and wealth made the largest contribution to the increase in revenue. Receipts in this category climbed by €442.2 million, or 15.3%, to €3.34 billion, compared with €2.89 billion a year earlier.

Social contributions rose by €235 million, or 6.6%, to €3.78 billion. Taxes on production and imports increased by €251.5 million, or 7.2%, reaching €3.77 billion.

Net VAT receipts, after refunds, totalled €2.64 billion, up €293.1 million, or 12.5%, from €2.35 billion in the first nine months of 2025.

Some Revenue Streams Decline

Not all revenue categories moved higher. Capital transfers fell by €74.6 million to €96.7 million, while current transfers declined by €71.6 million, or 20.5%, to €278.2 million.

Revenue from services slipped 1.0% to €743.5 million. Interest and dividend receipts dropped by €37 million, or 28.6%, to €92.4 million.

Social Benefits And Personnel Costs Increase

On the expenditure side, social benefits rose by €199.6 million, or 4.9%, to €4.27 billion. Compensation of employees—which includes imputed social contributions and public-sector pensions—increased by €108.3 million, or 3.8%, to €2.99 billion.

Intermediate consumption, covering goods and services used in the delivery of public services, rose by €114.3 million, or 11.0%, to €1.16 billion. Interest payments increased by €8.7 million, or 2.6%, to €340.7 million. Current transfers were up €68.7 million, or 10.6%, at €714.7 million.

Lower Capital Spending Limits Expenditure Growth

The overall increase in spending was tempered by a decline in capital expenditure. Capital-account spending fell by €189.9 million, or 16.9%, to €936.2 million from €1.13 billion in the same period last year.

Investment in fixed capital declined by €94.1 million, or 12.1%, to €686.4 million. Other capital transfers fell by €95.8 million, or 27.7%, to €249.8 million. Subsidies also decreased, dropping by €13.9 million, or 15.5%, to €75.8 million.

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