Aortyx has been awarded €2.5 million as “Grant First” through the EIC Accelerator program, funded by the European Commission, while doors remain open for another blended equity round in the foreseeable future. Link to the news alert by the European Innovation Council and SMEs Executive Agency (EISMEA): https://europa.eu/!FBndyh
The EIC Accelerator supports SMEs to scale up high impact innovations with the potential to create new markets or disrupt existing ones. The call is for innovations that cut across different scientific, technological, sectoral and application areas or represent novel combinations. Still, it importantly considers EU priorities for transitioning to a green, digital and healthy society, as well as the overall strategic planning for Horizon Europe, and the inputs of stakeholders, experts and the EIC pilot Advisory Board.
All applicants were assessed by experts in terms of Excellence (high degree of novelty and good timing in terms of market), Impact (to society and economy) and Level of Risk (team capacity to implement the innovation). Aortyx passed this first filter because of being considered a disruptive technology, having the potential to reach the market and a good commercialization strategy, and having risk and containment plans well defined.
Finally, in the online interview, Aortyx was identified as adding value to one of the relevant areas for the EU in the current period: Strategic Digital and Health Technologies. Focusing on our pipeline’s first product, the AX-GEN01, Aortyx developed a strategy to complete the regulatory tests, put in motion the quality management system, finalize manufacturing and start First-in-Human trials. The EIC Accelerator program support will be essential to reach those critical objectives.
AX-GEN01 is intended to be a technological breakthrough that will be game-changing for Aortic Dissection patients. This disruptive device, consisting of a bioresorbable patch that adheres to the aortic tear plugging the leak and integrating into the aorta’s tissue, is the core of our company. Thanks to the European Commission support, we are proud and hopeful to give a better life to aortic disease patients.
Thanks, once again, to believe in Aortyx!