AdjuCor has just been selected as one of the 74 European high potential, deep tech start-ups by the European Commission under the first 2022 European Innovation Council (EIC) Accelerator cut-off. A grant of €2.5 million has been awarded by European Innovation Council to AdjuCor for its revolutionary heart assist technology that provides life-saving treatment for end-stage heart failure patients. And the possibility of further investment of € 10 million with EIC as co-investor has also been obtained.
MUNICH, June 10, 2022 /PRNewswire-PRWeb/ -- AdjuCor GmbH's revolutionary heart-assist technology – reBEAT – has been awarded with a substantial grant from the EU. Contrary to all existing heart assist devices, reBEAT has the capability to assist the heart while completely avoiding the complication-laden aspect of blood contact. Durability and long-term pre-clinical survival studies have proven the functionality and safety of this unique technology.
Of a total of 1093 projects submitted in this EIC Accelerator funding round, 74 projects out of them won the grant. AdjuCor is among one of the 15 deep tech champions from Germany which were selected to receive this grant and the option for further equity funding.
"We are very proud and grateful to have been awarded this EIC Accelerator grant and future equity with the EIC – and also, we greatly appreciate the continued support of our clinical collaborators and investors. Following an intense and closely scrutinized process by the EIC expert evaluators, we believe this funding not only helps us to bring our revolutionary technology to patients with end-stage heart failure, but also further validates the importance of this project to the greater European and worldwide society. The number of patients suffering from end-stage heart failure is more than half a million in Europe and the US alone, and current treatment options can serve less than 3% of these. Our product, reBEAT, is a heart assist technology that will be a paradigm shift in the treatment of these patients, allowing for scalability and a significant reduction in complications," commented Professor Wildhirt, the CEO of AdjuCor GmbH.
About AdjuCor's Innovative Extravascular, Biventricular Cardiac Support Technology
The reBEAT system contains AdjuCor's patented technologies that is set apart from the other LVADs and TAHs currently available on the market. Featuring a unique non-blood-contacting solution, it can support both ventricles, and comprises an innovative patient-specific design. It can be implanted by a heart team (cardiologist and surgeon) within a few minutes on the beating heart without sutures. It completely avoids blood contact and thereby any blood-related complications including strokes and bleeding – an invaluable advantage that cannot be over-stated. The energy transferred to the heart may be adjusted to each patient's need. It is thereby set to dramatically enhance the care of patients with end-stage heart failure and improve their quality of life.
About AdjuCor
AdjuCor is based in Munich, Germany, and was founded as a GmbH in 2012 by the cardiothoracic surgeon, Prof. Stephen Wildhirt. It has been funded by private investors, the European Union, as well as German and Bavarian entities. The company employs over thirty-five experts in multiple disciplines. With this new funding round, it has now raised over € 42 million in total financing.
For more information, please visit: http://www.adjucor.com
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Media Contact
Dr. Hamman de Vaal, Adjucor GmbH, 49 89262049621, [email protected]
SOURCE Adjucor GmbH
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