1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support innovative small and medium-sized enterprises (SMEs) and start-ups with groundbreaking ideas in the European landscape. This initiative provides funding and support to help scale high-risk, high-impact innovations across various sectors, particularly focusing on deep tech and health technologies. Designed to foster the commercialization of research and development projects, the EIC Accelerator caters to ambitious entrepreneurs seeking to bring transformative solutions to market.

Funding Structure

The EIC Accelerator program offers a unique blend of grant and equity funding to eligible companies.

The program provides up to €2.5 million in grant funding. This portion is generally aimed at covering costs associated with the development and testing of the innovation, such as research and development, prototyping, and pilot projects. This grant funding is crucial for companies that require immediate financial support to validate their technology before pursuing larger investments.

In addition to grant funding, the EIC Accelerator also offers equity investment, which can reach up to €15 million until 2024 and €10 million thereafter. This equity funding is intended to support companies that are at a more advanced stage of development and need substantial capital to scale operations, enter new markets, or accelerate growth. The investment is often structured to ensure a partnership between the EIC and the innovative company, aligning their goals for mutual benefit.

Purpose in the DeepTech and Startup Ecosystem

The EIC Accelerator plays a vital role in the European deep tech and startup ecosystem by providing not just financial resources but also strategic support and mentorship. It seeks to bridge the gap between innovative ideas and market-ready solutions, encouraging collaboration between startups, researchers, and larger enterprises. By facilitating access to funding and fostering a supportive environment, the EIC Accelerator enables companies to scale effectively, thereby enhancing their potential for success in competitive markets.

Role in Scaling Companies and Attracting Private Investment

The EIC Accelerator assists companies in scaling by offering comprehensive advisory services, including business coaching and access to a network of industry experts and investors. This support helps startups refine their business models, develop go-to-market strategies, and enhance their investment readiness. By proving the viability of their innovations through initial grant funding, companies can attract private sector investments more easily, as they present a lower risk to potential investors. The EIC’s endorsement also adds credibility, enhancing visibility and appeal in the investment landscape.

Case Study: ADJUCOR GMBH and the Biventricular Epicardial Augmentation Technology Project

Company Overview: ADJUCOR GMBH, based in Germany, was awarded funding through the EIC Accelerator for its project titled Biventricular Epicardial Augmentation Technology (BEAT). This innovative technology platform is designed to provide life-saving treatment for patients suffering from end-stage heart failure.

Project Description: The BEAT project focuses on developing a revolutionary approach to heart failure treatment by utilizing a unique surgical technique that aims to augment the heart's ventricles. This technology seeks to improve the function of the heart in patients who have exhausted other treatment options, ultimately aiming to enhance their quality of life and survival rates.

Technology Background: The foundation of the BEAT technology lies in the understanding of cardiac anatomy and physiology. End-stage heart failure often leads to a progressive decline in cardiac function, resulting in a host of complications. Traditional treatments, such as heart transplantation, are limited by donor availability and associated risks.

ADJUCOR's approach involves an innovative surgical intervention that enhances the heart's ventricular performance by employing a combination of epicardial augmentation techniques. This method not only aims to improve heart contractility but also addresses the underlying issues causing heart failure. By strategically augmenting the ventricular walls, the technology aspires to restore normal function and improve hemodynamics in patients with severe heart conditions.

The successful completion of the project could lead to significant advancements in cardiac care, providing a viable alternative for patients who currently have limited options. The funding and support from the EIC Accelerator are essential in bringing this transformative technology closer to clinical application, thereby impacting the lives of countless individuals suffering from heart failure.

In conclusion, the EIC Accelerator program plays a crucial role in nurturing high-potential innovations within the European market. Through its robust funding mechanisms and supportive ecosystem, it enables companies like ADJUCOR GMBH to develop life-saving technologies that address pressing healthcare challenges.

2 The Funding Rounds

Financing Raised

Since March 23, 2022, when AdjuCor GmbH from Germany won the EIC Accelerator funding, the company has continued to expand its funding base. As of June 2022, AdjuCor reported raising over €42 million in total financing. This amount includes private investments as well as non-dilutive grants and possible equity support from European and German public sources.

Funding Rounds

AdjuCor has completed at least seven funding rounds by June 2021. The most notable recent round before their EIC Accelerator win was a Series B round finalized in June 2021. Since then, the company also secured an EIC Accelerator grant and may access further equity investment through the program.

Timing and Amount of Funding Rounds

• Series B Round: Closed in June 2021; total amount raised was €29 million.
• Lead investor: MitrAssist Holdings Limited (€25 million)
• Existing investor: Maurizio Group (€4 million)
• EIC Accelerator Grant: Announced in June 2022; award of €2.5 million in grant funding with an option for up to €10 million additional investment by the European Innovation Council (EIC) as a co-investor.
• Total Raised (as of mid-2022): Over €42 million, combining private capital, public grants—including EU and state-level support—and potential future equity from EIC.

Investor Information

The primary investors participating since March 2021 include:

• MitrAssist Holdings Limited: A cardiovascular-focused medical device platform company that led the Series B round with a major strategic investment.
• Maurizio Group/Maurizio Capital: A returning investor based near Munich that increased its stake significantly during Series B.
• Additional investors include various private sector contributors alongside institutional backers involved via European Union mechanisms such as the EIC Accelerator program.

The involvement of these investors demonstrates confidence in AdjuCor’s technology pipeline and management team.

Company Valuations

No explicit valuation figures have been publicly disclosed post-Series B or after winning EIC Accelerator support. However, given cumulative fundraising exceeding €42 million by mid-2022—much of it at late pre-clinical/clinical stage—the implied valuation is likely substantial within Europe’s medtech scale-up landscape.

Exit Events (IPO/Buyouts/Acquisitions)

As of April 24, 2025:

• There are no reports or announcements regarding IPOs, acquisitions/buyouts involving AdjuCor GmbH.
• The company remains privately held and continues to focus on clinical development milestones following successful first-in-human implantations announced in October 2023.

All available information indicates ongoing independent operation supported by continued venture capital backing alongside significant EU innovation funding.

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Sources: - AdjuCor Raises €29 Million in Series B Funding Round for its Revolutionary Heart Assist Technology

• AdjuCor Raises €29 Million in Series B Funding Round for its Revolutionary Heart Assist Technology That Completely Avoids Blood Contact
• News - AdjuCor reBEAT
• AdjuCor GmbH Asset Profile | Preqin
• Healthtech start-up Adjucor receives €29 million in Series B funding

Additional relevant details:

• for immediate release - AdjuCor (EIC Grant Announcement)
• German Start-up AdjuCor Marks Milestone with Successful First-in-Human Implantations
• AdjuCor has just been awarded a EUR 2.5 million EIC Accelerator grant…

3 The Press Releases

AdjuCor GmbH: Innovations and Progress Since EIC Accelerator Funding

AdjuCor GmbH, a Munich-based medical technology company, received EIC Accelerator funding in March 2022. Since then, the company has made significant strides in developing and advancing its innovative cardiac support device, reBEAT.

Technology Advancements

reBEAT is a groundbreaking, non-blood-contacting biventricular cardiac support system designed to revolutionize the treatment of advanced heart failure. It provides mechanical support to both heart ventricles without direct blood contact, reducing risks associated with traditional blood-contacting devices like stroke and bleeding. The device is minimally invasive, implanted on the beating heart, and offers pulsatile support that can be adjusted based on individual patient needs.

Clinical Milestones

In 2023, AdjuCor successfully completed the first-in-human implantations of reBEAT in a clinical study involving five patients. These procedures were conducted at Freeman Hospital in Newcastle upon Tyne, UK, and Hannover Medical School in Germany. This milestone marked a crucial step towards bringing reBEAT to market and improving outcomes for patients awaiting heart transplants or facing limitations with current mechanical support systems.

Partnerships and Funding

AdjuCor has been supported by substantial funding, including over €42 million from various sources such as the European Commission, German and private investors. The company is also part of an EU co-funded project, "Biventricular Epicardial Augmentation Technology," which provides €2.5 million over two years to aid in clinical trials and regulatory approval processes.

Team and Collaborations

AdjuCor collaborates with leading institutions like Hannover Medical School to advance its technology. The company is led by Managing Director Professor Dr. med. Stephen Wildhirt, who founded AdjuCor in 2012. The team's commitment to innovation and patient care drives their efforts to improve treatment options for heart failure.

Press Releases and Updates

AdjuCor regularly updates its website with news on its achievements, including successful implantations and funding awards. The company's website provides detailed insights into the reBEAT technology and its mission to enhance the lives of patients with advanced heart failure.

Patents and Intellectual Property

While specific patent details are not highlighted in recent press releases, AdjuCor's unique non-blood-contacting technology is a key innovation that sets its devices apart from existing heart assist devices.

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Sources: - News - AdjuCor reBEAT

• German Start-up AdjuCor Marks Milestone with Successful First-in-Human Implantations of reBEAT System
• AdjuCor Announces First Successful In Vivo 60-Day Pre-Clinical Survival Study using its Cutting-edge Non-blood-contacting Biventricular Cardiac Support Device
• Adjucor GmbH
• reBEAT: mechanical heart support of the future
• AdjuCor Raises €29 Million in Series B Funding Round for its Revolutionary Heart Assist Technology
• Technology - AdjuCor reBEAT
• AdjuCor Launches EU Co-Funded Project for Accelerating Market Entrance of reBEAT

4 The Technology Advancements

AdjuCor GmbH: Advancements and Developments Since EIC Accelerator Funding

AdjuCor GmbH, a Munich-based German startup, received significant funding from the European Innovation Council (EIC) Accelerator in March 2022. This funding marked a pivotal moment for the company, enabling it to accelerate the development and commercialization of its groundbreaking cardiac support technology, reBEAT.

Current Capabilities of AdjuCor GmbH

AdjuCor specializes in developing innovative medical devices that improve patient outcomes and enhance the quality of life. The company's flagship product, reBEAT, is a revolutionary biventricular epicardial augmentation technology designed to support patients with advanced heart failure. This minimally invasive, extravascular system provides mechanical circulatory support without direct blood contact, reducing the risk of complications like stroke and bleeding.

Advancements Since EIC Funding

Since receiving the EIC funding, AdjuCor has made substantial progress in advancing its reBEAT technology. In 2023, the company successfully completed the first-in-human implantations of the reBEAT device in a clinical trial conducted at Freeman Hospital in Newcastle upon Tyne, UK, and Hannover Medical School in Germany. This trial demonstrated the safety and effectiveness of reBEAT for patients with advanced heart failure.

AdjuCor also launched an EU co-funded project in February 2023 to accelerate the market entrance of reBEAT. This project involves clinical trials, device optimization, and regulatory approval processes to ensure that the device is safe and effective for patients. The EU provided €2.5 million in funding over two years for this project.

Technology Improvements and New Features

The reBEAT system has been refined to provide pulsatile support and is individually adjustable, supporting one or both heart chambers. It minimizes the risk of stroke and bleeding and simplifies the implantation procedure, leading to faster recovery times and shorter hospital stays. The device works by using a thin sleeve placed around the heart with inflatable cushions that synchronize with the patient's heartbeat to enhance cardiac function.

Market Demonstration and Clinical Trials

AdjuCor has actively engaged in clinical trials to demonstrate the technology. The MISSION-reBEAT pilot study is ongoing, focusing on safety and performance evaluation in advanced heart failure patients. The company plans further clinical studies to test long-term efficacy and safety, with a future study aimed at achieving CE marking.

New Patents, Scientific Studies, and Publications

While specific new patents filed by AdjuCor since the EIC funding are not detailed in the available information, the company has been actively involved in publishing its advancements and clinical insights. For instance, the successful first-in-human implantations and the ongoing clinical trials have been widely reported.

Conclusion

AdjuCor GmbH has made significant strides in developing and refining its reBEAT technology since receiving the EIC Accelerator funding. The company's focus on improving patient outcomes through innovative cardiac support solutions positions it as a leader in advancing medical technology for heart failure treatment.

Sources:

• AdjuCor - Technology
• AdjuCor - News
• German Start-up AdjuCor Marks Milestone with Successful First-in-Human Implantations of reBEAT System
• AdjuCor Launches EU Co-Funded Project for Accelerating Market Entrance of reBEAT
• MISSION-reBEAT - German Clinical Trials Register
• reBEAT: mechanical heart support of the future
• reBEAT: Biventricular Epicardial Augmentation Technology for HF Patients

5 The Partnerships and Customers

AdjuCor GmbH: Partnerships and Advancements Since EIC Accelerator Funding

AdjuCor GmbH, a Munich-based German company, received significant funding from the European Innovation Council (EIC) in March 2022. This funding has propelled AdjuCor's innovative cardiac support technology, reBEAT, toward clinical trials and market entry.

Partnerships and Customers

AdjuCor has collaborated with various clinical partners to conduct the world's first in-human implantations of the reBEAT device. These clinical trials have taken place at prestigious medical centers like Freeman Hospital in Newcastle upon Tyne, UK, and Hannover Medical School in Hannover, Germany. The company has not announced specific new customers but is focused on improving outcomes for patients with advanced heart failure.

New Partners

While specific new partners are not detailed, AdjuCor continues to collaborate with experts in the field to drive innovation. The company's team includes over thirty experts, and its partnerships are supported by German and private investors alongside EU funding.

Nature of New Relationships and Purpose

The nature of AdjuCor's relationships is primarily focused on advancing medical technology through collaborative efforts with clinical partners and investors. These partnerships are crucial for developing and scaling its reBEAT technology, which aims to revolutionize heart failure treatment by providing a minimally invasive, extravascular cardiac support system.

Market Positioning

AdjuCor's advancements in cardiac support technology position it as a leader in the development of innovative solutions for advanced heart failure. The reBEAT device offers a novel approach by avoiding blood contact, reducing complications associated with traditional mechanical blood pumps. This positioning is likely to attract more attention and investment in the medical technology sector.

Technology Advancements and Scaling

The EIC funding has been instrumental in accelerating the commercialization of the reBEAT device. AdjuCor's technology advancements are focused on optimizing the device for broader patient populations and ensuring efficient treatment of heart failure. The company's continued collaboration with experts and its significant funding will facilitate scaling its operations and expanding its market reach.

Sources

• AdjuCor - Technology
• German Start-up AdjuCor Marks Milestone with Successful First-in-Human Implantations of reBEAT System
• AdjuCor Launches EU Co-Funded Project for Accelerating Market Entrance of reBEAT
• European Union Co-Funded Project for reBEAT
• EIC Grant Awarded to AdjuCor for reBEAT Technology

6 The Hiring and Company Growth

AdjuCor GmbH: Growth and Development

AdjuCor GmbH, a Munich-based German startup, received the EIC Accelerator funding on March 23, 2022. Since then, the company has made significant strides in developing its innovative heart support technology, reBEAT.

Current Headcount and Team Size

As of recent reports, AdjuCor employs over 35 experts in multiple disciplines, including mechanical, electrical, software, and biomedical engineering, as well as biotechnology and clinical affairs. This team size represents a growth from earlier figures, as the company continues to expand its workforce to support the development and clinical trials of its reBEAT system.

Hiring and Team Growth

AdjuCor is actively seeking specialists in various engineering and medical fields to join its team. This ongoing recruitment drive indicates the company's commitment to advancing its technology and expanding its team to meet the demands of clinical trials and future market entry.

Recent Achievements and Growth

One of AdjuCor's major achievements since receiving the EIC Accelerator funding is the successful implantation of its reBEAT device in five patients during its first-in-human clinical study. This milestone marks a significant step forward in the development of its innovative extravascular biventricular system. The company has secured over €42 million in funding, which has been crucial in supporting its research and clinical trials.

Key Positions and Team Impact

While specific details on recent key hires are not available, AdjuCor's focus on recruiting experts across multiple fields suggests that new team members will play a critical role in enhancing the reBEAT technology, optimizing clinical trials, and preparing for market entry. These additions will be essential for scaling the company's operations and advancing its mission to improve heart failure treatment outcomes.

Management and Founding Team

AdjuCor was founded by cardiothoracic surgeon Prof. Stephen Wildhirt, who serves as the CEO. There are no reported changes in the management or founding team since the EIC Accelerator funding was awarded.

Future Plans and Impact

The successful implantation of the reBEAT device and ongoing clinical trials position AdjuCor for significant growth and potential market impact. The new team members will be integral in driving innovation, optimizing the device, and expanding its accessibility to a broader patient population. This growth is expected to enhance AdjuCor's role in revolutionizing heart failure treatment and improving patient outcomes.

Sources

• Team - AdjuCor reBEAT
• AdjuCor GmbH
• German Start-up AdjuCor Marks Milestone with Successful First-in-Human Implantations of reBEAT System
• reBEAT: Biventricular Epicardial Augmentation Technology for HF Patients
• MISSION-reBEAT - German Clinical Trials Register
• AdjuCor Launches EU Co-Funded Project for Accelerating Market Entrance of reBEAT

7 The Media Features and Publications

Overview of AdjuCor GmbH

AdjuCor GmbH, a Munich-based German startup, has been making significant strides in the medical technology sector since its inception in 2012 by renowned cardiothoracic surgeon Prof. Stephen Wildhirt. The company has garnered attention for its innovative heart support technology, reBEAT, which is designed to revolutionize the treatment of advanced heart failure.

Media Features and Publications

AdjuCor GmbH has been featured in various publications for its groundbreaking technology. Notably, the company's successful first-in-human clinical study of the reBEAT device was highlighted in a PR Newswire release, emphasizing its potential to transform heart failure treatment by offering a non-blood-contacting, biventricular cardiac support solution. Additionally, AdjuCor received EU co-funding to accelerate the market entrance of reBEAT, further solidifying its position as a pioneer in cardiac support devices.

Podcasts and Interviews

Currently, there is no evidence of specific podcast interviews or appearances by AdjuCor's team in the available search results.

Conference and Fair Visits

AdjuCor has actively participated in major conferences, including the 101st American Association for Thoracic Surgery (AATS) meeting, where it presented preclinical data on its technology. The company also presented at the 41st International Society for Heart and Lung Transplantation (ISHLT) Annual Meeting, showcasing its heart-assist technology.

Events Involvement

AdjuCor has been involved in several key events, including receiving significant funding from the European Innovation Council (EIC) and EU grants to advance its clinical trials and market readiness. The company's participation in conferences like AATS and ISHLT highlights its commitment to advancing heart failure treatment through innovative technology.

EIC Accelerator Funding

AdjuCor GmbH successfully submitted its Step 2 proposal to the EIC Accelerator and won in the Step 3 interview in March 2022. This funding has been crucial in supporting the development and clinical evaluation of its reBEAT technology.

Conclusion

AdjuCor GmbH is at the forefront of developing innovative cardiac support devices, leveraging significant funding from both private and public sources. Its participation in prestigious conferences and its groundbreaking technology position it as a leader in the field of heart failure treatment.

Sources

• News - AdjuCor reBEAT
• German Start-up AdjuCor Marks Milestone with Successful First-in-Human Implantations of reBEAT System
• AdjuCor GmbH
• AdjuCor Announces First Successful In Vivo 60-Day Pre-Clinical Survival Study using its Cutting-edge Non-blood-contacting Biventricular Cardiac Support Device
• AdjuCor Launches EU Co-Funded Project for Accelerating Market Entrance of reBEAT, their Innovative Cardiac Support Device
• reBEAT: mechanical heart support of the future
• Preclinical results of AdjuCor's technology to be presented at the American Association for Thoracic Surgery
• AdjuCor's first international conference presentation has been confirmed at the 41st ISHLT Annual Meeting