1 The EIC Accelerator Project
Overview of the EIC Accelerator Program
The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support innovative small and medium-sized enterprises (SMEs) and start-ups in Europe, particularly in the DeepTech sector. This program is designed to help companies develop and scale their groundbreaking technologies, providing both financial support and business acceleration services. The EIC Accelerator offers a blend of grant funding and equity investments, facilitating the transition from innovative ideas to commercial success.
Funding Structure
The EIC Accelerator provides funding in two primary forms: grants and equity investments. Grants can reach up to €2.5 million, which can be used to cover costs associated with innovation development, including research, prototyping, and testing. This funding is non-repayable, making it an attractive option for early-stage companies seeking to minimize financial risk while developing their technologies.
In addition to grants, the program offers equity funding to accelerate growth. Until 2024, companies can receive up to €15 million in equity investment. From 2025 onward, this amount is reduced to a maximum of €10 million. The equity funding is designed to complement the grant funding, helping companies secure the necessary capital to scale their operations and bring their innovations to market.
Purpose and Impact in the Ecosystem
The EIC Accelerator plays a crucial role in the European DeepTech and startup ecosystem by providing essential support to high-potential companies that face challenges in obtaining funding from traditional sources. These companies often work on complex technologies that require significant investment and time to reach the market. By offering both financial backing and business development assistance, the EIC Accelerator helps bridge the funding gap, enabling companies to innovate and scale effectively.
Furthermore, the program fosters collaboration between innovative startups and established businesses, enhancing knowledge transfer and opening up new market opportunities. This synergy is vital for driving technological advancement and economic growth across Europe.
Case Study: AMT Medical Research BV and the ELANA® Project
Company Overview
AMT Medical Research BV, based in the Netherlands, is a pioneering company focused on developing innovative medical technologies aimed at improving patient outcomes in cardiovascular surgery. The company has gained recognition for its groundbreaking project, ELANA® (Excimer Laser Assisted Non Occlusive Anastomosis), which is a novel surgical technique designed to bypass the need for traditional open-heart surgery.
Project Description: ELANA®
The ELANA® project focuses on a surgical innovation that utilizes excimer laser technology to create non-occlusive anastomoses. This technique allows surgeons to connect blood vessels without the need for clamping, which is a common requirement in conventional surgical methods. The primary goal of the ELANA® system is to minimize the invasiveness of cardiac procedures, reduce recovery times, and enhance overall patient safety.
Technology Basics and Background
The ELANA® technology leverages excimer lasers, which are known for their precision and ability to operate in delicate environments. Excimer lasers produce high-energy ultraviolet light, which can be finely controlled to remove material with minimal thermal damage to surrounding tissues. This characteristic makes them particularly suitable for surgical applications where precision is paramount.
In the context of cardiovascular surgery, the ELANA® method allows for the creation of anastomoses between arteries and veins without the need for occlusion. This advancement addresses several critical challenges associated with traditional methods, including reduced blood flow during surgery, longer recovery times, and increased risk of complications. By enabling non-occlusive connections, the ELANA® technique aims to enhance surgical outcomes and improve the overall experience for patients undergoing cardiac procedures.
Through its innovative approach, AMT Medical Research BV not only contributes to the advancement of surgical techniques but also positions itself at the forefront of the medical technology sector. The support received from the EIC Accelerator program, including grant funding and potential equity investment, will be instrumental in further developing the ELANA® technology and bringing it to market, ultimately transforming the landscape of cardiovascular surgery in Europe and beyond.
2 The Funding Rounds
Financing Raised
Since winning the EIC Accelerator funding in March 2022, AMT Medical Research BV (Netherlands) has raised a total of $40 million. This sum includes their recent $25 million Series B round, along with several multi-million-euro grants from Dutch government agency RvO and the European Innovation Council (EIC) Accelerator.
Funding Rounds
Series B Round
- Date Closed: April 17, 2025
- Amount: $25 million
- Purpose: Accelerate development of the ELANA® Heart Bypass System, pursue CE marking in Europe, conduct initial clinical trials in both open and robotic surgery settings in the United States.
- Investors:
- Lead: Bender Analytical Holding B.V. (BAH)
- New investors: Invest-NL (impact investment firm), European Innovation Council (EIC)
- Existing backers: Oost NL and informal angel investors.
Previous Grants & Early Funding
- Prior to Series B, AMT Medical received several non-dilutive grants from:
- Rijksdienst voor Ondernemend Nederland (RvO – Dutch Enterprise Agency)
- The EIC Accelerator program
- Early-stage seed investments included contributions from Nextgen Ventures and private angels to support technology validation and early clinical work.
Timing & Amounts of Funding Rounds
| Date | Round | Amount | Main Investors |
|---|---|---|---|
| Pre-April 2025 | Seed/Early | Not disclosed | Nextgen Ventures; Angels |
| By Mar 2022 | Early VC | N/A | Not detailed; Dealroom.co lists valuation at €13.8m |
| April 17, 2025 | Series B | $25M | Led by BAH; Invest-NL; EIC; Oost NL; Angels |
| Dealroom.co listed an enterprise valuation of ~$15M (€13.8M) as of March 2022. |
Total cumulative funding by April 2025 is reported as $40 million across all rounds and grants.
Investor Information
The main institutional investors are: - Bender Analytical Holding BV (BAH): Lead investor for Series B—focuses on disruptive medtech/pharma/biotech ventures with international scaling potential.
- Invest-NL: An Amsterdam-based impact fund supporting innovative Dutch companies.
- European Innovation Council (EIC): EU-backed accelerator program.
- Oost NL: Regional economic development fund for Eastern Netherlands.
Company Valuations
Public data from Dealroom.co indicates that AMT Medical held an estimated enterprise valuation of approximately €13.8 million (~$15 million USD) as of March 2022—prior to closing its major Series B round or any subsequent milestones associated with regulatory progress or market expansion plans. No updated post-Series-B valuation figures have been publicly reported.
Exit Events: IPOs, Buyouts & Acquisitions
As of April 30, 2025:
Sources
- AMT Medical Secures $25 Million in Series B Funding
- Dutch medtech startup AMT Medical raises $25M
- AMT Medical raises $25M Series B for heart bypass system
- AMT Medical Raises $25M in Series B Funding
3 The Press Releases
AMT Medical BV: Advancements Since EIC Accelerator Funding
AMT Medical BV, a Netherlands-based medtech innovator, received EIC Accelerator funding in March 2022. Since then, the company has made significant strides in developing its groundbreaking ELANA® Heart Bypass System.
Technology Advancements
The ELANA® system represents a paradigm shift in cardiac surgery by providing a minimally invasive, sutureless, and beating-heart approach to coronary artery bypass grafting (CABG). This technology uses a proprietary clip and laser system to connect graft vessels to coronary arteries without the need for open-chest surgery or a heart-lung machine. The system is compatible with robot-assisted techniques, aiming to reduce recovery times, risks, and costs associated with traditional CABG procedures.
Partnerships and Funding
In April 2025, AMT Medical secured $25 million in a Series B funding round led by Bender Analytical Holding B.V., with participation from Invest-NL and the European Innovation Council (EIC). This funding supports key initiatives, including obtaining CE marking and conducting initial clinical trials in the United States. AMT Medical has collaborated with institutions like St. Antonius Hospital in Nieuwegein and Charité in Berlin to advance its technology.
Team and Patents
Rutger Tulleken, CEO and Co-Founder of AMT Medical, emphasizes the company's mission to obsolete traditional open-heart bypass surgery. AMT Medical holds over 40 patents for its beating-heart surgical platform and operates with ISO 13485 certification.
Press Releases
Recent press releases highlight AMT Medical's progress toward CE marking and the initiation of U.S. clinical trials. The company aims to achieve CE marking by 2026 and expand into European and U.S. markets, potentially benefiting 1 million patients annually.
Website and Social Media Updates
AMT Medical's official website, amt-medical.nl, provides updates on its technology and milestones. However, specific social media updates were not detailed in the available information.
Sources: - AMT Medical Secures $25 Million in Series B Funding to ...
- AMT Medical Secures $25 Million in Series B Funding to
- AMT Medical raises $25M for its Elana heart bypass system
- News – AMT Medical
- AMT Medical secures $25M to revolutionize Heart Bypass Surgery
- Dutch AMT Medical scoops $25M to advance heart bypass surgery
- AMT Medical secures €22M to transform heart bypass surgery
- Dutch medtech startup AMT Medical raises $25M to transform heart bypass surgery
- Dutch medtech startup AMT Medical secures €22M
4 The Technology Advancements
AMT Medical: Advancements and Developments Since EIC Accelerator Funding
Introduction
AMT Medical, based in the Netherlands, is a medtech innovator focused on revolutionizing coronary artery bypass surgery. Following the EIC Accelerator Funding in March 2022, the company has made significant advancements in its technology and market presence.Current Capabilities
AMT Medical develops the ELANA® Heart Bypass System, a sutureless solution for coronary artery bypass surgery performed on a beating heart. This system uses a mechanical clip and excimer laser to connect a graft vessel to a coronary artery through small incisions, eliminating the need for open-chest access or a heart-lung machine. The technology is designed for standardization and robotic compatibility, aiming to reduce stroke risk, shorten recovery times, and lower costs in robotic settings.Advancements Since Funding
Since receiving the EIC Accelerator Funding, AMT Medical has secured additional financing through a $25 million Series B funding round led by Bender Analytical Holding B.V. (BAH), with support from Invest-NL and the European Innovation Council (EIC). This funding will accelerate the completion of European trials by late 2025 and support obtaining CE marking by 2026, as well as initiating U.S. clinical trials. The company aims to expand into robotic-assisted surgery and achieve FDA clearance, marking a key milestone in improving patient outcomes.Technology Improvements and New Features
The ELANA® system has been enhanced to enable robot-assisted keyhole surgery, compatible with leading surgical robots, which promises to further reduce recovery times and costs. The technology's sutureless anastomosis and beating-heart compatibility are designed to reduce stroke risks and complications, potentially lowering costs by over 50%.Market and Clinical Trials
AMT Medical has demonstrated its technology through clinical trials. The SAFE-CAB trial Phase II commenced in 2023 at St. Antonius Hospital and Amsterdam Medical Center, involving 75 patients. Initial results from the first-in-human study showed no major complications, paving the way for further research and European approval. The company collaborates with institutions like St. Antonius Hospital and Charite in Berlin, positioning itself as a leader in next-generation cardiovascular care.Patents and Publications
AMT Medical holds over 40 patents for its beating-heart surgical platform and has secured several multi-million-euro grants from RvO and the European Innovation Council Accelerator. While specific new patents or scientific studies published since March 2022 are not detailed, the company's ongoing clinical trials and technology advancements suggest continuous innovation.Conclusion
AMT Medical has made significant strides in advancing its ELANA® Heart Bypass System, improving technology, and expanding clinical trials since receiving the EIC Accelerator Funding. The company is on track to revolutionize coronary artery bypass surgery, aiming to benefit a large number of patients globally.Sources
- AMT Medical Raises $25M to Transform Heart Bypass Surgery
- News from AMT Medical
- AMT Medical Secures $25 Million in Series B Funding
- AMT Medical - BioCapital Europe
- Dutch AMT Medical Secures €22M to Transform Heart Bypass Surgery
- Dutch Medtech Startup AMT Medical Secures €22M
- Promising Results for the ELANA Heart Bypass System
- Dutch AMT Medical Scoops $25M to Advance Heart Bypass Surgery
- AMT Medical Secures $25 Million in Series B Funding to Revolutionize Coronary Artery Bypass Surgery
5 The Partnerships and Customers
AMT Medical's Strategic Partnerships and Market Positioning Post-EIC Accelerator FundingSince securing EIC Accelerator funding and subsequent Series B financing (2025), AMT Medical Research BV has deepened collaborations with clinical, institutional, and investment partners to advance its ELANA® Heart Bypass System. Below is a detailed analysis of its ecosystem:
Key Partnerships & Customers
- Clinical Collaborators:
- St. Antonius Hospital (Utrecht) and UMCU: Core partners for clinical trials, procedural validation, and real-world testing.
- Charité and Deutsches Herzzentrum Berlin: Collaborating on surgical techniques and patient outcome studies.
- Investors & Grant Providers:
- Bender Analytical Holding (BAH), Invest-NL, and the European Innovation Council (EIC): Led the $25M Series B round to fund CE marking efforts, U.S. trials, and robotic integration.
- Oost NL (existing investor): Continued support for scaling operations.
New Relationships Post-EIC Funding
- Robotic Surgery Integration: The company is aligning with unnamed "surgical robotics industry leaders" to enable keyhole procedures compatible with existing robotic platforms. This partnership aims to standardize the ELANA® system for automated workflows.
- Training Centers Expansion: Plans include establishing global training hubs by 2027 in collaboration with hospitals to certify surgeons in minimally invasive bypass techniques.
Market Positioning & Technology Advancements Through Partnerships
Future Trajectory
AMT’s network of clinical collaborators ensures iterative feedback for refining its sutureless anastomosis technology, while investor backing accelerates regulatory milestones. The focus on robotic compatibility prepares the company for dominance in automated cardiac surgery markets post-2027 launch.Sources Used:
- AMT Medical – The future of bypass surgery News Partnership case study
- $25M Series B funding announcement €22M funding report
- Clinical trial progress](https://www.nextgenventures.nl/turning-setbacks-## From animal trials...) (Note: URL truncated; full context derived from source content)
6 The Hiring and Company Growth
AMT Medical: Team Growth and Hiring
AMT Medical, a clinical-stage medtech company based in the Netherlands, has been focusing on developing its groundbreaking ELANA Heart Bypass System. Since receiving EIC Accelerator funding in March 2022, the company has made significant strides in team growth and hiring.
Current Headcount and Team Size
As of recent reports, AMT Medical has approximately 27 employees, reflecting a modest but focused team structure.Hiring and Team Growth
The company is currently undergoing team growth, particularly following its recent $25 million Series B funding round. This funding will support continued product development and team expansion as AMT Medical moves toward broader adoption of its innovative heart bypass technology.Current Hiring Status
While there is no explicit mention of current job openings on the company's website or recent reports, the expanded funding suggests opportunities for hiring in various roles to support its ambitious clinical trials and product development initiatives.Growth and Recent Hires
AMT Medical's growth is marked by its ability to attract significant investment and expand its clinical trials. The company has not detailed specific recent hires, but the growth in funding suggests an increase in staffing across different departments, particularly in research and development and clinical trial management.Impact on the Company’s Future
New team members will play a crucial role in helping AMT Medical scale and grow by supporting its mission to revolutionize coronary artery bypass surgery. The expanded team will facilitate the completion of ongoing European clinical trials, expansion into robotic-assisted surgical platforms, and preparation for U.S. regulatory trials and approval.Major Changes in Management or Founding Team
There are no reported major changes in AMT Medical's management or founding team. The company remains led by CEO Rutger Tulleken, who has been instrumental in adapting the ELANA technology for cardiac applications.Key Positions and Future Impact
While specific recent key positions are not detailed, the focus is on roles that support clinical trials, product development, and regulatory approvals. These roles will be critical in advancing the company's technology and mission to transform cardiovascular care by making open-heart bypass surgery obsolete.Sources: - AMT Medical Secures $25M to Revolutionize Heart Bypass Surgery
- AMT Medical Secures $25 Million in Series B Funding
- News – AMT Medical
- AMT Medical Raises $25M in Series B Funding
7 The Media Features and Publications
AMT Medical Research BV: Advancing the Future of Heart Bypass Surgery Since securing EIC Accelerator funding in March 2022, AMT Medical Research BV has emerged as a leader in revolutionizing coronary artery bypass grafting (CABG) with its ELANA® Heart Bypass System. Here’s an overview of their media presence, publications, and event engagements:Media Features
AMT Medical’s $25 million Series B funding round dominated headlines in April 2025, with coverage emphasizing its mission to replace open-heart surgery. Outlets highlighted the company’s sutureless, robotic-compatible technology designed for beating-heart procedures. Key narratives focused on:- Clinical milestones: Completion of European first-in-human trials by late 2025 and U.S. clinical trial launches.
- Cost reduction: Potential to lower procedural costs by over 50% through faster surgeries and reduced ICU reliance.
Publications & Industry Coverage
BioWorld, MedTech Spectrum, and TechFundingNews extensively covered AMT’s progress:- BioWorld detailed the Series B financing led by Bender Analytical Holding, underscoring plans for CE marking by 2026 and FDA clearance efforts.
- Vestbee emphasized ELANA’s mechanical clip-and-laser anastomosis technology, which enables same-day discharge for patients.
Podcasts & Interviews
While no direct podcasts featuring AMT executives were identified in available records, CEO Rutger Tulleken has been quoted extensively about the company’s vision: > “This financing validates our mission to make open-heart bypass obsolete. By enabling same-day discharge bypass procedures, we’re redefining cardiovascular care.”Conference Participation & Events
Though specific conferences attended remain unreported in public materials:- The company collaborates with institutions like St. Antonius Hospital (Netherlands) and Charité Berlin for clinical trials, suggesting presentations at cardiology-focused forums.
- Regulatory milestones (CE marking pursuit) imply engagement with EU medical device conferences or workshops post-2022 EIC award.
Sources Used:
Note: No direct conference presentations or podcasts were identified beyond press releases.
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