1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups in Europe that are developing innovative technologies and solutions. This program is particularly focused on companies engaged in deep tech, which includes fields such as biotechnology, advanced materials, and artificial intelligence. By providing a combination of grants and equity investments, the EIC Accelerator aims to help these companies scale their operations and achieve significant market impact.

Funding Structure

The EIC Accelerator offers a two-tier funding structure:

Purpose and Role in the Ecosystem

The EIC Accelerator serves a critical role in the European deep tech and startup ecosystem. By providing substantial financial support and resources, the program helps bridge the funding gap that many innovative companies face, particularly in the early stages of development. This is crucial for deep tech startups, which often require significant time and investment before achieving market readiness.

Moreover, the EIC Accelerator facilitates connections between innovative companies and private investors, enhancing their visibility and attractiveness to potential stakeholders. By promoting innovation and fostering collaboration, the program contributes to Europe’s competitiveness on a global scale.

AVVie GmbH and The Angelvalve Project

Company Overview: AVVie GmbH, based in Austria, is a pioneering company focused on advancing medical technologies. Their flagship project, The Angelvalve Project AVVie, aims to transform the landscape of cardiac care through innovative transcatheter mitral valve repair solutions.

Project Details: The Angelvalve Project is specifically designed to address mitral valve regurgitation, a prevalent condition that can lead to serious heart complications if left untreated. The project employs a minimally invasive transcatheter approach to repair the mitral valve, which is critical for patients who may not be suitable candidates for traditional open-heart surgery.

Technology Basics: The core technology behind The Angelvalve Project involves the development of a novel valve repair device that can be delivered via catheterization. This minimally invasive technique significantly reduces recovery times and hospital stays compared to conventional surgical methods. The device is engineered to provide effective and durable valve repair, improving patient outcomes and quality of life.

Background and Significance

Mitral valve regurgitation affects millions worldwide, leading to heart failure and other serious health issues. Traditional surgical options, while effective, come with risks and longer recovery periods. The Angelvalve Project’s focus on a transcatheter solution addresses these challenges by offering a less invasive alternative that can be performed under local anesthesia, allowing for quicker recovery and reduced healthcare costs.

The EIC Accelerator funding awarded to AVVie GmbH not only supports the development of this groundbreaking technology but also positions the company for future growth and collaboration within the healthcare sector. By leveraging the grant and potential equity investment, AVVie can accelerate its research, refine its product, and scale operations to meet the pressing demands of the healthcare market.

Conclusion

The EIC Accelerator program exemplifies a strategic initiative aimed at nurturing innovation within Europe’s deep tech landscape. Through its funding mechanisms, the program empowers companies like AVVie GmbH, enabling them to tackle pressing global health challenges with innovative solutions such as The Angelvalve Project. This approach not only bolsters individual companies but also enhances the overall health of the European economy by fostering technological advancements and sustainable growth.

2 The Funding Rounds

AVVie GmbH: Financing and Funding History Since EIC Accelerator Award

Financing Raised

Since submitting its successful EIC Accelerator proposal in June 2022, AVVie GmbH has raised several rounds of non-dilutive grant funding aimed at advancing its minimally invasive heart valve implant technology. The key financing events are as follows:

European Innovation Council (EIC) Accelerator Grant:

In January 2023, AVVie completed the grant agreement with the European Innovation Council and SMEs Executive Agency (EISMEA), securing €2.5 million in non-dilutive funding.

Austrian Lifesciences Programme Grant:

In April 2023, AVVie received additional support from Austria’s FFG Lifesciences programme. While the precise amount was not disclosed, this is another notable non-dilutive grant.

EIT Health Support:

In January 2023, AVVie received a smaller grant of €1,500 from EIT Health.

Funding Rounds — Timing and Amounts

AVVie's funding since mid-2022 consists entirely of grants rather than equity investment rounds:

Date	Source	Amount	Type
Jan 2023	European Innovation Council	€2.5 million	Grant
Jan 2023	EIT Health	€1,500	Grant
Apr 2023	Austrian Lifesciences Programme	Not disclosed	Grant

The amount for the FFG Lifesciences Programme was not specified in public sources.

Investor Information

To date, all major reported funding for AVVie comes via grants from public institutions:

• European Innovation Council
• Austrian Research Promotion Agency (FFG)
• EIT Health

There is no evidence of venture capital or private equity investment as of May 1, 2025.

Valuation Data

There is no publicly available data on company valuations for AVVie GmbH following these grant rounds. This is typical for companies primarily funded by grants rather than priced equity investment.

Exit Events: IPOs or Acquisitions

No exit events—such as an initial public offering (IPO), buyout, or acquisition—have been reported for AVVie GmbH since it won its EIC Accelerator award in June 2022.

Summary Table

Event/Item	Details
Largest single round	€2.5M EIC Accelerator grant (Jan 2023)
Other known round(s)	FFG Lifesciences (Apr/May 2023), EIT Health (€1.5k)
Private investors	None disclosed
Company valuation	Not publicly available
Exit events	None

</em>Amount undisclosed.

Conclusion

AVVie's financing to date has focused on substantial public sector grants supporting early product development and clinical validation phases. No venture or private equity investments have been made public; there are also no indications of company valuation updates tied to new share issuances or any M&A activity since receiving the major EU innovation award in mid-2022.

Sources: - AVVie company information – Dealroom

• AVVivie - Angel Valve Vienna News
• South Moravia Ecosystem - Funding & Investors
• Startup Estonia Company Profile

3 The Press Releases

AVVie GmbH: A Pioneer in Mitral Valve Repair

Company Overview

AVVie GmbH, known as "Angel Valve," is a visionary startup located in Vienna, Austria. It specializes in developing innovative structural heart medical devices, particularly focusing on the treatment of mitral valve regurgitation. With over 13 million people affected by this condition in Europe and the U.S., AVVie aims to enhance the quality of life for these patients by providing novel solutions like the Mitral Butterfly system.

Technology Advancements

The Mitral Butterfly system is a hemi valve designed to replace the function of the native, dysfunctioning posterior leaflet of the mitral valve. It uses a nitinol-based frame and a pericardial membrane to restore full coaptation, preserving the motion and function of the anterior leaflet. This system can be delivered through both minimally invasive surgery and transseptal delivery, offering a promising alternative to traditional surgical methods.

Funding and Recognition

AVVie received the EIC Accelerator grant in June 2022, which has been instrumental in advancing the development of the Mitral Butterfly system. Additionally, AVVie was awarded the Rudolf Sallinger Fund S&B Award for its innovative concept. In 2023, the company also received a grant from the Austrian Lifesciences Programme and completed the grant agreement with the European Innovation Council for a 2.5 million euro grant.

Partnerships and Collaborations

As a spin-off of the Medical University of Vienna, AVVie benefits from strong academic ties, which facilitate high-level scientific exchange and collaboration with technology providers. The company's participation in conferences like London Valves 2023 and EuroPCR 2023 further underscores its commitment to innovation and collaboration within the medical community.

Team Updates

AVVie recently welcomed Patrik Lüftenegger as its new Project Manager, adding valuable expertise to the team. The company's leadership includes Prof. Werner Mohl as the founder and Thananya Khienwad as the Director of Research and Development.

Press Releases and Updates

AVVie regularly publishes updates on its website, including news about conferences, funding achievements, and team changes. Notable mentions include the completion of a 90-day chronic animal safety trial for the Mitral Butterfly device in 2020. The company's social media and website updates often highlight its involvement in major medical conferences and its progress in developing innovative heart repair technologies.

Sources

• AVVie - Angel Valve Vienna
• AVVie GmbH Austria ("Angel Valve") Achieved Important Milestone
• Angel Valve Vienna wins Rudolf Sallinger Fund S&B Award
• News | Angel Valve Vienna - AVVie
• Team | Angel Valve Vienna - AVVie
• Technology | Angel Valve Vienna - AVVie

4 The Technology Advancements

AVVie GmbH: Current Capabilities and Advancements

AVVie GmbH, headquartered in Vienna, Austria, is a visionary startup specializing in structural heart medical devices. The company is primarily focused on developing innovative solutions for mitral valve regurgitation, a condition affecting millions globally. AVVie's flagship product, the Mitral Butterfly system, is designed to address this condition by replacing the function of the native, dysfunctioning posterior leaflet, thereby restoring full coaptation and reducing mitral regurgitation.

Current Capabilities

• Mitral Butterfly System: This novel, minimally invasive implant is engineered to treat mitral valve regurgitation, a condition where blood leaks back into the heart's left atrium. The system uses a nitinol-based frame and a pericardial membrane, allowing for stable, atraumatic implant seating without penetrating the myocardium.
• EU Funding and Recognition: AVVie received funding from the European Innovation Council (EIC) Accelerator, which has enabled the company to advance its technology and prepare for first-in-man applications planned for early 2025.

Advancements Since EIC Funding (June 2022)

Following the receipt of EIC Accelerator funding in June 2022, AVVie has made significant advancements:

• Technology Improvement: The company has refined the Mitral Butterfly system, enhancing its design to ensure better coaptation and stability. Bench testing has demonstrated excellent results in eliminating mitral regurgitation while minimizing complications such as paravalvular leakage.
• Integration of Digital Tools: AVVie is working on integrating digital twins for preprocedural planning and facilitating implantation and navigation. This approach aims to standardize testing and iteration based on anatomy and pathophysiology.
• Market Preparation and Funding: AVVie is preparing for a Series A funding round to raise €8-12 million, which will be crucial for bringing the product to market and achieving the next inflection point in its growth.

Demonstration and Clinical Trials

Clinical Trials: While specific details on ongoing clinical trials are not publicly available, the company is on track to initiate first-in-man applications early in 2025, marking a significant step towards demonstrating the technology in a clinical setting.

New Patents and Publications

There is no recent information available regarding new patents filed or scientific studies published specifically in relation to the advancements made since receiving the EIC funding. However, the ongoing development and refinement of the Mitral Butterfly system suggest that AVVie remains focused on advancing its technology through both engineering innovations and clinical validation.

Sources

• AVVie - Angel Valve Vienna
• AVVie GmbH | EuroQuity
• Jozef Tanczos Presents Angel Valve Vienna at LSI Europe '23
• Advancing Transcatheter Mitral Valve Repair | The Angelvalve Project

5 The Partnerships and Customers

AVVie GmbH's Strategic Positioning Through Partnerships and Innovation AVVie GmbH, an Austrian medical device startup focused on mitral valve regurgitation treatment, has not publicly disclosed specific customer relationships or new partnerships in the available data. However, insights into its strategic positioning can be derived from its foundational collaborations and mission.

• Core Mission: AVVie’s Mitral Butterfly system targets untreated moderate-to-severe mitral regurgitation patients, aiming to provide a catheter-based alternative to open-heart surgery.
• Academic and Institutional Ties: As a MedUni Vienna spin-off, AVVie benefits from academic expertise and clinical networks critical for R&D validation.
• Funding Background: Secured EU funding and awards like the Rudolf Sallinger Fund S&B Award (2019) underscore investor confidence but do not specify commercial partnerships post-EIC Accelerator.

Market Positioning
The absence of disclosed customers or partners suggests AVVie may still be in clinical development or early commercialization phases typical of structural heart device startups. Its catheter-based approach positions it competitively against surgical alternatives, emphasizing minimally invasive treatment accessibility.

Technology Advancement Pathways
Collaborations with academic institutions likely drive iterative prototyping and preclinical testing for regulatory milestones (e.g., CE Mark). Scaling would depend on manufacturing partnerships, which remain unspecified in public records.

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Sources

• AVVie - Angel Valve Vienna
• Angel Valve Vienna wins Rudolf Sallinger Fund S&B Award
• Team | Angel Valve Vienna - AVVie

6 The Hiring and Company Growth

AVVie GmbH Team Growth and Scaling Post-EIC Accelerator Funding AVVie GmbH, an Austrian medtech startup specializing in transcatheter mitral valve repair systems, has leveraged its EIC Accelerator funding (awarded after a 2022 application) to advance technical development and expand operational capabilities. While specific headcount figures are not publicly disclosed, the company’s team structure and growth trajectory can be inferred from project milestones and leadership profiles.

Team Structure and Growth

• Core leadership includes Prof. Werner Mohl (Founder), Thananya Khienwad (Director of R&D), and Patrik Lüftenegger (Project Manager), suggesting a compact, specialized team focused on engineering and regulatory milestones.
• Key positions emphasized in recent updates include imaging specialists for preprocedural planning software development, delivery system engineers for catheter-based deployment optimization, and risk management experts to align with MDR/ISO 14971 standards.
• Hiring focus areas: The company’s emphasis on integrating digital twin technology for patient-specific implant sizing implies recruitment of computational modeling experts or AI specialists to support this innovation loop.

Scaling Strategy

Post-EIC funding achievements include:

• Technical advancements: Successful bench testing of the Mitral Butterfly’s crimping profile, deployment mechanisms, and anchoring stability, enabled by cross-disciplinary collaboration between material scientists and interventional cardiologists.
• Regulatory progress: Initial hazard analysis completion under ISO 14971:2019 framework, likely requiring quality assurance personnel expansion.
• Manufacturing readiness: Design iterations accommodating human/animal anatomical variations across DMR/FMR pathologies, indicating process engineering hires for scalable production.

Future Trajectory

New team members in imaging integration roles could accelerate AVVie’s shift toward data-driven personalized medicine—critical for competing against established mitral repair devices like Abbott’s MitraClip®️ or Edwards Lifesciences’ PASCAL®️ system. With no reported management changes since its founding phase, AVVie appears to maintain continuity while scaling through targeted technical recruitment rather than executive overhauls.

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Sources:

• Advancing Transcatheter Mitral Valve Repair | The Angelvalve Project
• AVVie Official Website
• Team Profiles at Angel Valve Vienna
• AVVie GmbH Company Profile - Life Sciences Directory

7 The Media Features and Publications

AVVie GmbH: Media Presence and Event Participation Post-EIC Accelerator Funding AVVie GmbH, an Austrian medical device startup specializing in transcatheter mitral valve repair solutions, has maintained an active public profile since securing EIC Accelerator funding. Below is a detailed overview of their media features, publications, conferences, and event participation:

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Media Features and Publications

• PR Newswire Coverage: Highlighted the successful completion of a 90-day chronic animal trial for their Mitral Butterfly® device in 2020. While dated prior to their EIC grant announcement (Jan 2023), this remains a key milestone often referenced in company materials.
• CORDIS EU Reporting: Detailed progress on the Mitral Butterfly system’s development under the EIC Accelerator program (Feb 2023–Jan 2024), emphasizing advancements in atraumatic anchoring and frame design.

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Podcasts and Interviews

Dr. Mathew Williams Interview: A dedicated interview with the AVVie advisory board member discussed the Mitral Butterfly’s clinical potential and innovation strategy (Jan 26, 2024).

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Conference Participation

• EuroPCR 2023: Presented data on the Mitral Butterfly’s efficacy as part of innovation submissions (Apr 25–27, Paris).
• London Valves 2023: Showcased the Mitral Butterfly system in sessions focused on emerging transcatheter therapies (Nov 13–15).
• LSI Europe Emerging Medtech Summit: Jozef Tanczos presented AVVie’s vision at LSI Europe ’23 (Sep 21, Barcelona), emphasizing minimally invasive implantation advantages.
• TVT Structural Heart Summit: Shared technical insights on mitral regurgitation repair outcomes (Jun 15–17, Miami).

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Event Involvement

Recent engagements emphasize collaboration with clinicians to refine procedural planning tools under EU funding programs. AVVie prioritizes visibility at events combining innovation showcases with investor networking.

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Sources Used:

5.–7.,9.–10.: AVVie Conference Updates (EuroPCR/London Valves/TVT details) 8.: LSI Europe Presentation Video

Note: Some sources derive from aggregated timelines on AVVie’s official news page; direct links may require navigation to specific posts under "Conferences & Presentations."