About us & mission
Patras Medicine iGEM 2025 is a multidisciplinary team of ten undergraduate students from the University of Patras, representing the Departments of Medicine, Biology and Computer Engineering & Informatics. United by a shared mission to tackle one of the world’s most pressing health challenges, obesity, we combine our diverse scientific and technological expertise to create a groundbreaking gene therapy.
But innovation alone is not enough. We believe that scientific breakthroughs must reach the patients who need them most. That’s why we invested in strategic planning, entrepreneurial thinking and market research to ensure that Morphe is not only scientifically sound but also scalable, accessible and impactful.
Building on a strong tradition of excellence and consecutive international awards in the iGEM competition, our team integrates deep expertise in molecular biology, genetics and computational modeling with practical experience in experimental design and clinical insights. Supported by experienced mentors and a global network of collaborators, Patras Medicine fosters a dynamic environment of creativity, teamwork and perseverance, essential qualities for advancing cutting-edge solutions from the lab bench to real-world clinical impact.
iGEM Entrepreneurship Criteria
For your convenience, we have summarized below how each section of this page documents our work according to the official iGEM Entrepreneurship criteria. Our approach demonstrates a comprehensive effort to establish Morphe as a new standard of treatment within the current and future therapeutics market.
First potential customers
From our very first calls with experts in the biotech startup space, it became clear that it would not be realistic for an academic team like ours to independently bring a complex gene therapy all the way to market. For this reason, Morphe’s initial customers will not be end-users directly, but strategic partners who can enable its clinical validation, regulatory advancement and market entry.
You can explore this aspect further in the following sections:
- First potential customers: where we present the specific partner groups and their roles in Morphe’s early development.
- Stakeholder analysis: outlining the ecosystem of collaborators, advisors and organizations that are essential to engage, along with our progress so far.
- Business model & commercialization strategy: describing how these partnerships translate into a sustainable go-to-market pathway for Morphe.
Unmet need
Obesity has emerged as one of the most urgent global health challenges of our time, affecting billions of people worldwide and imposing a growing burden on healthcare systems and societies. To design an effective and impactful therapy, it was essential for us to first understand the true scale of the problem, not only its biological roots but also its clinical, economic and social dimensions.
You can explore this aspect further in the following sections:
- Unmet need: where we present detailed data on the prevalence of obesity, its medical consequences and its economic and societal impact.
- Competition: highlighting the limitations of current solutions and why a new, durable and biologically targeted therapy like Morphe is urgently needed.
- Value proposition: showing how Morphe directly tackles each unmet need and delivers tangible value to the customers.
Possible, scalable and inventive solution
To ensure that Morphe is both scientifically feasible and strategically viable, we focused on designing a therapy that is possible to develop, scalable to produce and inventive in concept. Our pages collectively demonstrate how Morphe combines technical feasibility, innovative design and a clear pathway to sustainable scale-up.
You can explore this aspect further in the following sections:
- Our solution: explaining the scientific rationale, core mechanism and how Morphe’s gene therapy design achieves technical feasibility.
- Development plan: detailing our current technological stage and the milestones leading toward clinical readiness.
- Value proposition: showcasing what makes Morphe inventive and how it generates therapeutic and societal value beyond current treatment options.
- Competition: comparing Morphe with existing therapies and underlining its differentiation.
- Strategic environment: featuring our SWOT and PESTEL analyses, which assess internal and external factors that influence innovation, scalability and market potential.
- Financial plan: outlining the strategy that enables Morphe’s sustainable scalability and long-term financial viability.
Development plans
Our Implementation & execution section outlines the full roadmap that will guide Morphe’s transition from an academic project to a clinically validated and commercially viable gene therapy. We present a structured plan that defines the development process, operational execution, financial sustainability and risk management required to achieve our goals.
You can explore this aspect further in the following sections:
- Development plan: describing the scientific and technical milestones, timelines and resources that structure Morphe’s progression from proof-of-concept to clinical readiness.
- Financial plan: providing an overview of projected costs, funding sources, pricing strategy and long-term value creation through our exit strategy.
- Risk analysis: identifying potential risks, assessing their impact and presenting the mitigation measures ensuring safe and sustainable advancement.
Skills, capabilities and stakeholders
Our team brings together a diverse set of scientific and entrepreneurial skills, united by a shared mission to translate innovation into real-world therapeutic impact. Throughout this journey, we developed our business and communication capabilities, built a network of mentors and experts and learned how to bridge the gap between research, strategy and implementation.
You can explore this aspect further in the following sections:
- About us & mission: introducing our multidisciplinary team, background and shared vision behind Morphe.
- Stakeholder analysis: presenting the key experts, advisors and organizations we have engaged to support our development and future steps.
- Entrepreneurship in action: showcasing how we actively cultivated entrepreneurial skills through accelerators, mentoring programs and real-world collaborations.
Long-term impacts
For us, it is essential to understand the full range of impacts that Morphe may have, scientific, societal, ethical and economic, both positive and negative. By assessing these dimensions early, we ensure that our innovation develops responsibly and remains aligned with long-term public benefit.
You can explore this aspect further in the following sections:
- Long-term impacts: where we analyze the potential benefits and possible risks of implementing Morphe as a gene-therapy-based intervention.
- Future outlook: highlighting how Morphe can evolve into a sustainable therapeutic platform, expanding its impact beyond obesity toward broader metabolic and neuroendocrine disorders.
Unmet need
Obesity has emerged as one of the most urgent global health challenges. Over 2.6 billion people were overweight or obese in 2020, a number projected to exceed 4 billion by 2035. In Europe, 51% of adults are affected, with 17% meeting criteria for obesity, while in Greece more than half of the adult population is already impacted.
This condition is a major driver of morbidity and mortality, strongly linked to type 2 diabetes, cardiovascular disease, stroke, non-alcoholic fatty liver disease, kidney disease, osteoarthritis, sleep apnea and multiple cancers.
Beyond physical complications, obesity inflicts profound psychological exhaustion through relentless cycles of weight loss and regain, compounded by societal stigma that frames it as personal failure rather than a biological disease. This chronic stress contributes to mental health disorders including depression, anxiety, and diminished self-worth, further complicating treatment adherence. Current pharmacological options require lifelong daily use, often cause significant gastrointestinal side effects, and fail to address underlying neuro-hormonal dysregulation leaving patients trapped in an exhausting treatment cycle without lasting resolution.
The economic impact is equally severe: global spending on obesity is expected to exceed $4 trillion annually by 2035, representing nearly 3% of global GDP. These costs stem from healthcare expenditures and lost productivity through absenteeism, presenteeism, premature retirement and early mortality, while stigma and social exclusion further worsen health inequalities.
Despite the enormous burden, current solutions remain inadequate. Lifestyle interventions, pharmacological treatments, devices and surgical procedures often provide only temporary relief, come with side effects or invasiveness and most importantly fail to address the neuro-hormonal dysfunction at the core of obesity. This gap highlights the need for innovative, durable therapies that can deliver sustainable outcomes.
Our solution
Morphe is a gene therapy designed to address obesity by restoring metabolic regulation in the brain. Specifically, it aims to correct leptin and/or insulin resistance, which act as major biological barriers to sustainable weight loss.
The therapy uses a clinically validated third-generation lentiviral vector to deliver its genetic payload, ensuring stable and long-lasting effects. Its design incorporates precision and self-regulation, activating only under metabolic dysfunction while remaining silent under normal conditions. Looking ahead, intranasal delivery is being developed as a non-invasive route to the central nervous system, making Morphe a patient-friendly alternative to current treatments.
By combining targeted gene modulation, built-in safety mechanisms and a scalable delivery method, Morphe offers a durable, safe and accessible solution that stands apart from existing interventions.
Value proposition
Morphe's value proposition addresses the fundamental mismatch between what obesity patients need and what current treatments deliver. While existing interventions demand lifelong adherence, invasive procedures, or chronic medication with frequent relapse, Morphe offers a durable, one-time gene therapy designed to restore metabolic balance at its source.
The Value Proposition Canvas illustrates how Morphe creates value across four key stakeholder groups: patients seeking sustainable weight loss without lifelong treatment burden, clinicians requiring novel evidence-based therapeutic options, payers and healthcare systems aiming to reduce long-term obesity-related costs and investors looking for differentiated innovation in a rapidly expanding market.
Value Proposition Canvas
Competition
The obesity treatment landscape is structured around four main categories: pharmacological drugs, surgical interventions, medical devices and lifestyle interventions. Each has demonstrated benefits for specific patient populations, but all share significant limitations. Most require long-term adherence, carry significant costs and fail to address the biological dysfunctions underlying obesity.
Pharmacological drugs such as GLP-1 receptor agonists have shown meaningful weight loss but require continuous administration, often at costs exceeding $1,000 per month. Weight regain is common after discontinuation, making them a chronic management solution rather than a cure.
Surgical interventions deliver substantial and durable weight loss but require invasive procedures, carry surgical risks and cost $15,000-$25,000. Despite their effectiveness, long-term outcomes still depend on lifestyle adherence.
Medical devices are less invasive but temporary, with weight typically regained after removal. Costs are moderate ($6,000-$10,000) but efficacy remains limited.
Lifestyle interventions are safe and non-invasive but have high relapse rates due to biological drivers of weight regain.
Morphe introduces a differentiated approach. It is designed as a durable, one-time gene therapy that directly modulates dysregulated leptin and insulin pathways in the brain. Unlike existing approaches, it provides a long-term metabolic reset, reducing relapse risk and restoring hormonal balance. The prospect of intranasal delivery makes it non-invasive and patient-friendly compared with injections or surgery. While gene therapy carries risks, these are systematically addressed through advanced vector engineering, rigorous preclinical testing and clinical trial oversight. By the time of market entry, Morphe will be a targeted, well-validated and safe therapeutic. In terms of economics, the upfront cost of gene therapy is high, but its value lies in long-term prevention of obesity-related comorbidities like diabetes, cardiovascular disease and NAFLD. By reducing hospitalizations, lifelong medication dependence and relapse, Morphe offers a transformative, cost-effective and scalable solution that aligns with value-based healthcare and payer priorities.
Morphe vs Existing Therapies: Clinical & Economic Comparison
Market & strategy
Market sizing - clinical opportunity
Our market sizing is framed around the clinical opportunity, meaning the number of patients who represent the ultimate beneficiaries of the therapy. This ensures that the potential impact of Morphe is assessed in terms of epidemiology and medical need.
Our initial focus will be on patients with severe or treatment-resistant obesity, characterized by confirmed leptin or insulin resistance and high relapse rates despite lifestyle interventions or medical treatments. This group represents the population with the highest unmet medical need and is most likely to benefit from a durable, centrally acting therapy.
TAM, SAM, SOM
TAM (Total Addressable Market): >1 billion patients worldwide
Global population living with obesity who could theoretically benefit from a durable, centrally acting gene therapy.
SAM (Serviceable Available Market): 5-10 million patients in Europe
Patients with severe or treatment-resistant obesity within accessible regions where advanced therapies are approved.
SOM (Serviceable Obtainable Market): ~10,000 patients
Patients expected to receive the therapy in early deployment via specialized referral networks and clinical partnerships.
First potential customers
Morphe’s initial customers will not be end-users directly, but strategic partners who enable its clinical validation and market entry. Our first customer segments include:
- Specialized obesity clinics & metabolic centers: Early partners for preclinical and clinical validation, patient recruitment and proof-of-concept studies.
- Pharmaceutical companies (e.g., Novo Nordisk, Eli Lilly): Co-development or licensing partners with the manufacturing, regulatory and commercial capacity to bring Morphe to market.
- CROs & CDMOs: Contract organizations providing good laboratory practice (GLP) toxicology, clinical trial execution and good manufacturing practice (GMP) vector production to ensure scalability and quality.
- Healthcare payers & hospital systems: Early stakeholders for budget impact modeling, reimbursement planning and coverage agreements.
- Key opinion leaders (KOLs) in endocrinology & obesity medicine: Co-designers of clinical trials and advocates who influence adoption and clinical guidelines.
Stakeholder analysis
To ensure the successful development and adoption of Morphe, we conducted a structured stakeholder analysis. Mapping the ecosystem around our therapy allowed us to identify the key players, clarify their roles and evaluate their level of interest in the therapy. This process also guided us in designing engagement strategies tailored to each group, ensuring that stakeholders are not only aware of Morphe but actively involved in its progress.
Stakeholder involvement so far
Throughout Morphe's development, we engaged diverse stakeholders to ensure our therapy addresses real-world needs, aligns with clinical practice and integrates patient perspectives. Each stakeholder provided critical insights that shaped our scientific approach, communication strategy and commercialization pathway.
Patients & patient-centered experts
Dr. Dionysios Chartoumpekis (Medical Director, Obesity Clinic of Patras)- What he told us: Provided invaluable insight into the daily challenges faced by patients living with obesity, including weight stigma, emotional eating patterns and frustration with current treatment options that fail to deliver lasting results.
- How he helped us: Facilitated access to confidential patient interviews, enabling us to conduct a first needs assessment of patients—the end users of our therapy. These discussions revealed key barriers to treatment adherence and psychological burdens that existing interventions overlook.
- How we applied it: Direct patient engagement informed Morphe's design as a durable, non-invasive solution that addresses both biological dysfunction and the psychological toll of chronic disease management. We prioritized safety, efficacy and patient-centeredness throughout our therapeutic strategy.
- What she told us: Highlighted the critical importance of non-stigmatizing language and the deep psychological relationship people have with food.
- How she helped us: Guided us in framing obesity as a chronic metabolic disease, ensuring our messaging reduces stigma.
- How we applied it: Shaped our public communication strategy to emphasize compassion, science-based understanding and respect for patient experiences.
- What she told us: Explained how emotional triggers drive eating behavior and contribute to weight regain.
- How she helped us: Co-designed the "Food and Emotions" questionnaire, mapping emotional eating patterns.
- How we applied it: Used these insights to understand patient needs beyond purely metabolic dysfunction, reinforcing the value of a durable therapy that eliminates the cycle of relapse.
- What she told us: Emphasized the significant overlap between obesity and eating disorders, requiring holistic and compassionate approaches.
- How she helped us: Provided sociocultural context for obesity beyond biomedicine.
- How we applied it: Strengthened our commitment to patient-centered care and public destigmatization campaigns.
- What he told us: Explained the emotional roots of overeating often beginning in infancy and early childhood.
- How he helped us: Guided us toward safer, patient-centered experimental strategies that consider psychological wellbeing.
- How we applied it: Reinforced our focus on non-invasive delivery and long-term therapeutic durability to reduce psychological burden.
Clinicians & public health experts
Dr. Apostolos Vantarakis (Professor of Hygiene & Public Health)- What he told us: Stressed the importance of early education, prevention and continuous awareness campaigns at the population level.
- How he helped us: Provided epidemiological context and public health strategy insights.
- How we applied it: Integrated prevention messaging into our outreach activities, including school workshops and public awareness campaigns.
- What she told us: Provided regional obesity data and underlined the role of childhood education and coordinated prevention strategies.
- How she helped us: Connected us with local health networks and validated the regional relevance of Morphe.
- How we applied it: Informed our market analysis and stakeholder engagement strategy for Greece and broader EU markets.
Advocacy & public health organizations
“Anasa” Day Center & “Eutrophia” Nutrition Center- What they told us: Offered insights into the psychological and societal dimensions of obesity, including stigma and mental health impacts.
- How they helped us: Supported our design of outreach and destigmatization initiatives.
- How we applied it: Co-designed public engagement activities focused on reducing weight stigma and promoting evidence-based obesity education.
Pharma & investors
Pharmaceutical partners- What they told us: Due to the lack of stable university funding, we engaged pharmaceutical sponsors and companies active in obesity drug development. Through pitching Morphe, we received critical feedback on market fit, commercial viability and partnership conditions.
- How they helped us: Several believed in our vision and provided financial support within the iGEM competition framework, alongside strategic input on how to position Morphe as a therapeutic innovation.
- How we applied it: Refined our business model, licensing strategy and go-to-market approach based on industry expectations. Feedback helped us align Morphe's development timeline with pharma partnership opportunities and investor priorities.
For more information on our stakeholder interactions, please see our Human Practices page.
Strategic environment
SWOT analysis: A concise evaluation of our strengths, weaknesses, opportunities, and threats, guiding us to leverage advantages, improve limitations, seize opportunities and mitigate risks.
PESTEL analysis: An overview of the political, economic, social, technological, environmental and legal factors that shape our project’s development and potential for success.
Business model & commercialization strategy
Morphe follows a lean biotech platform model. Our current focus is on advancing our lead indication (leptin or/and insulin resistant obesity) through preclinical development and investigational new drug/ investigational medicinal product dossier (IND/IMPD)-enabling studies, potentially including a Phase I safety trial, to establish proof-of-concept. From our very first calls with experts in the biotech startup space, it became clear that it would not be realistic for an academic team like ours to independently bring a complex gene therapy all the way to market. This is why our near-term strategy is B2B, centered on out-licensing or co-development agreements with pharmaceutical partners who have the manufacturing, regulatory and commercial capacity to bring the product to market.
In the longer term, once intranasal delivery and regulatory approval are achieved, we aim to evolve to a B2B2C model, collaborating with insurers and healthcare systems while maintaining a direct brand presence with patients. This approach maximizes scalability and creates long-term value.
Implementation & execution
Development plan
Current stage
Morphe is currently positioned at Technology Readiness Level 3 (analytical and experimental proof-of-concept). We have successfully designed and validated our genetic circuit through rigorous experimental testing:
- Genetic circuit design & validation: We designed a miRE-based shRNA cassette targeting HDAC6, a key protein whose upregulation in obesity disrupts critical signaling pathways in the central nervous system, particularly those involved in leptin and insulin metabolism. Initial validation in K562 cells demonstrated robust HDAC6 knockdown, with RT-qPCR showing 75,1% reduction in mRNA levels. Flow cytometry analysis across two independent biological replicates confirmed a 30-35% decrease in HDAC6 protein expression, with α-tubulin housekeeping marker remaining unchanged, demonstrating selective targeting specificity. Immunofluorescence imaging further validated effective HDAC6 silencing with clear reduction in signal intensity compared to untransduced controls.
- Vector platform: We employ second-generation lentiviral vectors with EF-1α promoter and EGFP reporter for efficient transduction and tracking. Successful viral transduction was confirmed through strong EGFP fluorescence, demonstrating effective delivery and stable integration.
- Proof-of-concept: Our experimental data demonstrates functional gene silencing at both transcriptional and translational levels, confirming the feasibility of our RNA interference approach. This foundation validates the core mechanism of our therapeutic design.
This validated foundation positions Morphe to advance toward Technology Readiness Level 4 (full in vitro validation with integrated pathway testing) and IND-enabling studies in the coming years.
For detailed experimental results and technical validation, see our Results page.
Development roadmap
Click to learn more
Product development
Between 2025-2026, our team will complete in vitro validation of the genetic circuit, confirming leptin pathway restoration through shRNA efficacy and reporter assays. These activities will be conducted with university infrastructure and volunteer work, keeping costs limited to consumables and basic legal filings. In vivo proof-of-concept studies and vector optimization will follow in 2027-2028, requiring higher research expenditure and initial outsourcing to CROs. GLP toxicology and biodistribution studies are scheduled for 2026-2027 to satisfy IND requirements, while GMP pilot batch production will take place in 2028 to secure material for first-in-human studies.
Regulatory & clinical
In 2025-2026, we'll engage with regulatory experts to understand EMA and FDA gene therapy pathways, building knowledge through consultations with our university's Technology Transfer Office and Motitus.
As preclinical data matures in 2027-2028, we'll work with regulatory consultants toward scientific advice meetings with agencies.IND/IMPD dossier preparation will span 2027-2029, supported by CRO partners. Phase I/IIa studies are targeted for 2029-2030+, pending successful preclinical outcomes and regulatory clearance.
Business development
We're preparing for provisional patent filing in 2025-2026, with guidance from Motitus and our university's Technology Transfer Office, followed by full patent submission once experimental validation is complete.
Seed funding is targeted for 2026-2027 to support preclinical work. Series A (2028-2029) would fund IND preparation and GMP manufacturing. CRO and CDMO partnerships are planned for 2027, contingent on fundraising and scientific validation.
Quality & risk management
Standard Operating Procedures (SOPs) and data management plans will be implemented in 2025 to ensure reproducibility and data integrity. Quality Assurance (QA) reviews and risk assessments will be conducted in 2026-2027, prior to initiating GLP studies. Finally, GMP Quality Control (QC) and pre-IND review will be completed in 2028 to mitigate technical and regulatory risks before dossier submission.
Communication & outreach
Public communication efforts began in 2025 through awareness campaigns and participation in TEDxPatras, where we presented Morphe to the local innovation community. Additionally, we established collaborations with communication sponsors such as Pharmacy Management and Health Stories, enabling ongoing targeted outreach to biotech and pharma audiences.
We are also invited as Community Partners to Startup Week Patras 2025 by POS4work Innovation Hub, connecting with the regional entrepreneurship ecosystem. We are also invited to present at Health Expo in January, which connects us directly with biotech and pharma partners while significantly increasing our visibility in the healthcare innovation space. Between 2027 and 2028, dedicated campaigns will be launched to engage key opinion leaders (KOLs), insurers and patient advocacy groups, ensuring broad stakeholder awareness and preparing the ground for clinical entry and early adoption.
Operational plan
Morphe’s operational strategy is designed to support its scientific and business roadmap through efficient use of resources and strong external collaborations. By strategically combining access to advanced academic research facilities with partnerships involving Contract Research Organizations (CROs), Contract Development and Manufacturing Organizations (CDMOs) and regulatory advisors, the project ensures that core research activities, quality standards and compliance requirements are continuously met. This approach maintains organizational agility by keeping Morphe lean, scalable and highly adaptable to evolving research, development and regulatory demands. The integration of specialized external expertise with internal capabilities enables efficient resource management, risk mitigation and accelerated progress towards clinical translation and commercialization.
View detailed operational breakdown
Technological & infrastructure needs
Morphe relies on Biosafety Level 2 (BSL-2) laboratory facilities for genetic circuit testing, molecular assays and lentiviral vector work. Most heavy infrastructure is accessed through university and partner labs, reducing upfront costs. For scale-up, preclinical studies and GMP manufacturing will be outsourced to CROs and CDMOs.
Workforce & Processes
Morphe operates with a lean team of researchers and advisors, relying on university resources in the early stages to minimize fixed costs. As development progresses, specialized consultants in regulatory affairs, QA and legal/IP will be engaged, while CRO/CDMO partners support preclinical and GMP activities.
Partnerships & resource management
To remain lean, our strategy emphasizes external partnerships. CROs will conduct in vivo studies and GLP toxicology, while CDMOs will handle GMP vector production and batch release. Regulatory consultants will support dossier preparation and compliance. This outsourcing approach minimizes capital expenditure while providing access to world-class expertise.
Quality & risk management
We are implementing SOPs and data management procedures early to ensure reproducibility and biosafety. QA reviews and risk assessments will precede GLP studies and IND filing, mitigating technical and regulatory risk. All preclinical and manufacturing partners will be selected based on strict GMP and GLP adherence.
Legal & regulatory environment
Morphe will comply with ATMP regulations (Regulation (EC) No. 1394/2007) and guidance from EMA/FDA. Biosafety approvals, ethics committee clearance and intellectual property protection (patent filings, FTO analysis) are integrated into our operational workflow. GDPR compliance will be ensured for any data handling.
Technology Transfer & Legal Support
In addition to regulatory compliance, Morphe benefits from early support in intellectual property and commercialization strategy. We are in discussions with Motitus, which has expressed interest in supporting the creation of a spin-off, complementing the university’s Technology Transfer Office. This partnership will provide legal expertise, IP management and guidance on company formation, reducing barriers for transitioning from research to market.
Equipment overview
Morphe’s R&D activities are supported by essential wet lab and dry lab resources. Wet lab infrastructure covers HEK293T culture, molecular assays and viral vector validation, while dry lab tools enable circuit modeling, docking studies and in silico simulations. Detailed equipment and consumables are summarized in the following tables.
Financial plan
Morphe's financial strategy balances capital efficiency with strategic growth, leveraging partnerships and phased funding to advance from proof-of-concept to clinical translation.
The figure below illustrates our projected development costs over five years (2025-2029) alongside potential strategic partners at each stage. Early-stage development relies on university infrastructure, non-dilutive grants and corporate sponsorships, minimizing operational expenses. As we advance toward IND preparation and clinical entry, funding transitions to seed and Series A rounds, with partnerships from CROs, CDMOs and venture capital firms specializing in gene therapy. Upon achieving clinical proof of concept, licensing or co-development agreements with major pharmaceutical companies enable global commercialization while de-risking late-stage development.
Financial Overview
Our five-year financial roadmap demonstrates strategic capital allocation across six key categories, scaling from €60K (2025) to €16.65M (2029):
2025-2026 (Early R&D): Minimal operational costs (€60K-€1.3M) leveraging university infrastructure, with expenses concentrated in research consumables, initial IP filing, and preclinical trial initiation.
2027 (Preclinical peak): Costs reach €3.9M as GLP toxicology and in vivo studies intensify, supported by growing regulatory work and initial personnel hiring.
2028 (Clinical transition): Investment jumps to €11.6M as clinical trials commence, marking our entry into first-in-human studies while preclinical activities conclude.
2029 (Phase I/IIa execution): Full clinical scale-up at €16.65M, with Phase I/IIa trials representing the dominant cost driver alongside sustained regulatory, personnel, and infrastructure investments.
Strategic partners by stage:
- WinMedica (2025-2026): Early financial sponsorship and biotech visibility.
- VectorBuilder (2025-2027): Plasmid services and technical consulting.
- Motitus (2026-2028): Spin-off formation, IP strategy, legal infrastructure.
- Pfizer/Novo Nordisk/Eli Lilly (2028+): Strategic partnerships for clinical co-development and global commercialization.
- POS4work (2025+): Innovation ecosystem access and entrepreneurship support
Funding alignment:
This cost structure is supported by our phased funding strategy: non-dilutive sources and sponsorships (2025-2026), seed investment (2026-2027), Series A venture capital (2027-2028), and strategic pharmaceutical partnerships from 2028 onward.
Pricing & cost-effectiveness strategy
Unlike the current obesity treatment landscape, which spans lifestyle interventions, pharmacological options and more invasive approaches such as bariatric surgery and medical devices, Morphe offers something fundamentally different: a durable, non-invasive and self-regulating solution. This shift from continuous management to a disease-modifying cure positions Morphe as a highly cost-effective solution.
Our health economics approach focuses on:
- Cost savings: reducing lifetime healthcare expenditure related to obesity-associated comorbidities (type 2 diabetes, cardiovascular disease, NAFLD).
- Quality-adjusted life year (QALY) gains: improving patient health outcomes, making the therapy attractive to payers and aligning with value-based healthcare initiatives.
- Budget impact modeling: demonstrating that Morphe’s upfront cost is outweighed by downstream healthcare and societal savings.
- Equity & access: ensuring fair pricing and payer coverage, enabling broad access beyond premium markets.
- Long-term societal value: reducing morbidity, mortality and productivity loss, while promoting healthier lifestyles and long-term prevention strategies. Aligns with value-based healthcare and SDG 3 goals.
Scalability strategy
Morphe is designed with scalability in mind, ensuring that the transition from research to clinical and commercial stages can be achieved efficiently and sustainably.
Cost-efficient scale-up
From the start, Morphe has been structured for GMP-grade, clinical-scale production of its lentiviral vector. Partnerships with multiple CDMOs (Contract Development & Manufacturing Organizations) will enable seamless scale-up from pilot to commercial batches, ensuring robust supply capacity for preclinical, clinical and eventual commercial needs. Instead of investing €20-30M in our own plant, outsourced batches allow scale-up with limited fixed costs and flexible allocation of funds.
Funding-linked expansion
Each financing stage directly supports scalability:
- Seed funding covers in vitro/in vivo validation.
- Series A supports IND/IMPD submission and pilot GMP batch production.
- Future Series B or licensing upfronts will enable larger clinical-grade production runs and distribution readiness.
Revenue potential from scale
Morphe is not limited to leptin-resistance obesity. Its modular promoter architecture and lentiviral backbone can be readily adapted to target additional metabolic disorders, including type 2 diabetes and NAFLD. This pipeline expansion potential provides long-term value creation beyond the initial indication.
Exit strategy & value creation
Our financial strategy ensures that Morphe creates measurable value for investors and stakeholders at key development milestones:
- Pharma Acquisition: Based on recent acquisitions in the obesity and gene therapy space (ranging €500M-€3B), a successful Phase I/IIa outcome could position Morphe for a strategic sale, generating high ROI for early investors.
- Licensing & Co-commercialization: Structured deals can provide upfront payments (€20-50M range), milestone-based tranches (linked to Phase II/III success) and royalties (5-15%) on net sales. This provides both near-term cash inflows and long-term recurring revenues.
Initial Public Offering (IPO) & Late-Stage Financing: A Series B or IPO could unlock capital in the €100M+ range, funding Phase IIb/III trials while significantly increasing company valuation (potential €500M-€1B depending on data strength and market trends).
Long-term impacts
The development of Morphe is not only about scientific progress but also about understanding its wider consequences. Below, we explore both the potential benefits and the possible drawbacks of bringing this therapy into practice. Our goal is to offer a balanced and responsible outlook by assessing how Morphe could shape society, the environment and the economy in the long run.
Risk analysis
Developing an innovative gene therapy like Morphe involves complex risks: scientific, regulatory, financial, operational and societal. By identifying and assessing these risks early, proactive mitigation strategies can be implemented to ensure a safe and responsible path to clinical translation and market entry.
Our framework ranks risks by likelihood and potential impact, enabling us to prioritize high-severity issues such as regulatory delays and reimbursement through early engagement and strong strategic positioning. Medium-severity challenges like supply disruptions and patient access are managed via partnerships and focused stakeholder engagement. Continuous monitoring and adaptive responses keep Morphe's progress resilient and aligned with both scientific and commercial priorities.
Entrepreneurship in action
Coming from a purely scientific background, our team initially had no experience in entrepreneurship. To bridge this gap, we actively sought programs, competitions and mentoring initiatives that allowed us to learn, connect and build a trusted support system of experts. These experiences marked the beginning of our entrepreneurial journey, gradually exposing us to innovation ecosystems, helping us expand our networks and offering us structured guidance to transform our scientific idea into a venture with real-world potential.
Entrepreneurial exposure - First steps at Ideathon Patras
Our journey began at the Ideathon Patras, an initiative fostering entrepreneurial innovation by enabling students and researchers to develop solutions to real-world problems and receive guidance from experienced mentors. This experience introduced us to the basic principles of idea development, strengthened our pitching and teamwork skills and helped us understand the fundamentals of entrepreneurship. Most importantly, it marked the first step in shaping our entrepreneurial mindset and envisioning how scientific ideas can be translated into real-world applications.
We also engaged in networking with entrepreneurship experts and potential investors, including Stavros Tsompanidis (Forbes 30 Under 30 entrepreneur), Christos Alexakos (founder of SynBio), Nasos Koskinas (founder of POS4work Innovation Hub) and Nancy Zachariadou (Director of Corporate Responsibility at Piraeus Bank). Their insights and presence enriched the experience and gave us valuable early exposure to the entrepreneurial ecosystem.
Building networks - Expanding beyond science
As we sought to expand our entrepreneurial exposure, we attended TEDxPatras, where we met Megaklis Vasilakis, who later became a supporter and guest speaker at our own initiatives. We also participated in the 5th Panhellenic Conference of the Hellenic Pharmaceutical Students’ Association (SFFE) and in a job fair organized by BEST (Board of European Students of Technology), further broadening our connections with professionals from both academia and industry. These early experiences encouraged us to refine our business model and build the foundations for future mentoring.
Structured learning - Accelerators & competitions
We actively sought opportunities to test and further develop our project by applying to competitions and accelerators, including the BioStart Competition and the Piraeus Bank Accelerator Program.
Accepted into the Piraeus Bank Accelerator, we participated in seminars on project management, business model development, IP strategy and commercialization, while also submitting weekly progress reports and engaging in 1-on-1 mentoring sessions. This continuous feedback helped us gradually build every stage of our venture.
Key mentoring connections proved invaluable: Nikolas K. Varveris (Director of Strategy & Development, Valuedriven.io) guided us in refining our business plan and pitch, ensuring clarity in Morphe’s value proposition and roadmap. Nikos Ioannou (serial entrepreneur and angel investor) shared insights from his biotech startup experience, helping us shape a realistic and robust business model.
Learning from real-world experiences - iGEM Startups Summer School
We joined the iGEM Startups Summer School 2025, an inspiring weekend where we learned about the journey of turning scientific ideas into real biotech ventures. Hearing directly from founders who had once been in our position made it easier to relate, envision our own path and understand the real steps needed to grow. Their guidance gave us practical tools, sharpened our pitch and strengthened our confidence that Morphe can evolve beyond the competition.
Giving back - Organizing “First Steps into Entrepreneurship”
We reached out to Entrepreneurship Talks with the motivation to collaborate and create a space where students could openly discuss entrepreneurship, share challenges and gain practical exposure to startup thinking.
This collaboration led to the two-day webinar “First Steps into Entrepreneurship”, co-hosted with Nikolas Varveris as co-moderator. The program featured sessions on entrepreneurial mindset, startup funding, leadership and business strategy, with speakers including Megaklis Vasilakis, Sotirios Konstantakis, Ioulia Despinoudi and Alexandra Tsouka.
The event attracted more than 40 participants, who received hands-on training through pitching exercises and engaged in meaningful discussions with industry experts. It not only introduced students to key entrepreneurship concepts but also fostered dialogue between young scientists and professionals, strengthening the bridge between academia and the startup ecosystem.
Future outlook
Morphe’s immediate priority is to translate its promising laboratory results into clinical readiness. Our development strategy focuses on lean operations and strong collaborations with CROs, CDMOs and regulatory experts to accelerate progress while keeping costs efficient. By combining rigorous science with an entrepreneurial approach, we aim to advance toward first-in-human studies within the next decade, laying the foundation for a viable therapeutic product.
In the medium term, our business model will evolve from B2B partnerships with pharmaceutical companies to a B2B2C approach that directly engages healthcare systems, insurers and patient communities. A key enabler of this transition is the development of intranasal delivery, a non-invasive administration route that bypasses the blood-brain barrier and significantly improves patient acceptance compared to invasive procedures or repeated injections. This innovation not only enhances therapeutic accessibility but also reduces the clinical infrastructure required for administration, making Morphe more scalable across diverse healthcare settings. Through outcome-based reimbursement models and early payer dialogue, we plan to demonstrate that Morphe's upfront cost is outweighed by long-term reductions in obesity-related complications and healthcare expenditures.
Looking beyond obesity, Morphe’s modular architecture positions it as a versatile platform for other metabolic and neuroendocrine disorders such as type 2 diabetes, NAFLD and hypothalamic dysfunctions. By leveraging the same precision gene therapy framework, we can expand the pipeline and extend Morphe’s impact across multiple high-burden diseases. This long-term scalability transforms Morphe from a single product into a platform company with significant growth potential in the biotech sector.
At a broader level, Morphe aspires to redefine how gene therapies are perceived and applied. By demonstrating the feasibility of non-invasive, self-regulating delivery to the brain, we can pave the way for a new generation of therapies that are safer, more precise and more accessible. Our outlook is to establish Morphe not only as a transformative treatment for obesity but also as a benchmark for responsible biotech innovation, aligning patient benefit with societal value and sustainable growth.
References
▼- World Obesity Atlas 2023. WOA
- OBESITY IN THE EU: AN ONGOING EPIDEMIC. ERPS
- Global Obesity Observatory - Greece. GOO Greece
- Health Risks of Overweight & Obesity. NIH
- Islam, A. N. M. S., Sultana, H., Nazmul Hassan Refat, M., Farhana, Z., Abdulbasah Kamil, A., & Meshbahur Rahman, M. (2024). The global burden of overweight-obesity and its association with economic status, benefiting from STEPs survey of WHO member states: A meta-analysis. NCBI
- Economic impact of overweight and obesity to surpass $4 trillion by 2035. WO
- Anti-Obesity Drugs Market Size, Trends, Innovations and Growth Drivers. Towards Healthcare
- Anti-obesity Medication Market (2024 - 2030). Market Analysis Report
- Anti-obesity Drugs Market Size, Share & Industry Analysis, By Type (Prescription Drugs and OTC Drugs), By Distribution Channel (Hospital Pharmacy and Retail and Online Pharmacy) and Regional Forecast, 2024-2032 Anti-obesity Drugs Market Size, Share & Industry Analysis,
- Gao, M., & Liu, D. (2014). Gene Therapy for Obesity: Progress and Prospects. Discovery Medicine, 17(96), 319-328. Gene Therapy for Obesity: Progress and Prospects
- Angelidi, A. M., Belanger, M. J., Kokkinos, A., Koliaki, C. C., & Mantzoros, C. S. (2022). Novel Noninvasive Approaches to the Treatment of Obesity: From Pharmacotherapy to Gene Therapy. Endocrine Reviews, 43(3), 507-557. Novel Noninvasive Approaches to the Treatment of Obesity
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