1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC (European Innovation Council) Accelerator program is a funding initiative designed to support small and medium-sized enterprises (SMEs) and startups in the European Union that are engaged in innovative and high-impact projects, particularly in the DeepTech sector. The program aims to bridge the funding gap often faced by these entities, enabling them to scale up and bring their innovations to market.

The EIC Accelerator provides both grant and equity funding. The grant component can reach up to €2.5 million, primarily intended for early-stage development and validation of innovative ideas. Additionally, the program offers equity funding, which has undergone adjustments over the years. Up until 2024, companies can receive equity investments of up to €15 million. From 2025 onwards, this equity support will be capped at €10 million. Such funding is crucial for companies seeking to leverage private investment and scale operations effectively.

Purpose of the EIC Accelerator

The primary objective of the EIC Accelerator is to foster the growth of innovative companies that can drive economic growth and competitiveness in Europe. By providing financial support and access to a network of experts and mentors, the EIC Accelerator plays a vital role in helping startups navigate the challenges of scaling their operations. This program is particularly significant in the European DeepTech landscape, where companies often require substantial investment to develop cutting-edge technology and bring it to market.

Through its funding and support mechanisms, the EIC Accelerator helps companies attract additional funding from private investors, thereby enhancing their sustainability and growth prospects. This not only aids the individual companies but also contributes to the overall innovation ecosystem within Europe.

Edvince AB and the EDVance Project

Edvince AB, a Swedish company, emerged as a winner of the EIC Accelerator program with its project titled EDVance, specifically EDV2209. This project represents a paradigm shift in stroke treatment, addressing a significant healthcare challenge. The submission of the Step 2 proposal took place on October 6, 2021, followed by a successful Step 3 interview.

Project Details: EDV2209

The EDVance project focuses on developing an innovative treatment for stroke, leveraging advanced technologies to enhance patient outcomes significantly. Stroke remains one of the leading causes of death and disability worldwide, necessitating urgent advancements in treatment methods.

The technology underpinning EDVance is built on a combination of cutting-edge neuroprotective agents and innovative delivery mechanisms. These agents are designed to minimize neuronal damage and improve recovery rates in stroke patients. The project aims to create a therapeutic solution that can be rapidly deployed in clinical settings, ultimately reducing the time to treatment and enhancing the efficacy of existing protocols.

Technology Basics and Background

The technology developed under the EDVance project is grounded in extensive research into neurobiology and the pathophysiology of stroke. It aims to address the critical window for intervention that exists post-stroke, where timely treatment can make a significant difference in patient recovery.

By utilizing novel compounds that target specific pathways involved in neuronal injury, EDVance seeks to offer a dual approach: protecting the brain from further damage while promoting healing processes. Moreover, the delivery mechanism is tailored to ensure that these compounds reach the affected areas of the brain quickly and efficiently, maximizing their clinical impact.

Overall, Edvince AB's EDVance project exemplifies the transformative potential of the EIC Accelerator program in supporting groundbreaking innovations that have the capability to reshape medical treatments and improve patient care in the field of stroke management. The project's success not only highlights the effectiveness of the EIC Accelerator funding model but also underscores the importance of fostering innovation in the healthcare sector.

2 The Funding Rounds

Edvince AB: Funding and Financial Events Since EIC Accelerator Success

Edvince AB, a Swedish biotech company developing therapies for brain damage following cerebral ischemia and stroke, notably received significant support from the European Innovation Council (EIC) Accelerator after its Step 2 proposal submission in October 2021.

Financing Raised

In December 2021, Edvince was selected to receive a €2.5 million grant (approximately $2.8 million) from the EIC Accelerator program to support clinical trials for its lead drug candidate in subarachnoid hemorrhage.

Funding Rounds

• The main publicly reported funding round since their EIC Accelerator success is this non-dilutive grant of €2.5 million.
• There are no publicly available reports of additional venture capital or private equity rounds taking place since this award up to April 2025.

Timing and Amount of Funding Rounds

Date	Type	Amount	Source
Dec 2021	Grant	€2.5 million (~$2.8m)	EU EIC Accelerator

Investor Information

• As per earlier disclosures (pre-EIC funding), Edvince's ownership included:
• Founder Lars Edvinsson
• Krankajen Group
• Almi Invest Syd
• Swedish Growth Fund
• LMK Forward
• Sarah Fredriksson
• No new investor names have been disclosed in relation to post-EIC funding.

Other Information Related to Funding Rounds

• The EIC grant supports ongoing clinical development and is not associated with equity investment or dilution.
• No recent press releases or news indicate further fundraising rounds beyond public grants as of April 2025.

Company Valuations

There are no published company valuation figures available for Edvince AB following the EIC funding round.

Exit Events: IPOs, Buyouts, Acquisitions

There have been no IPOs, buyouts, or acquisition events involving Edvince AB reported between October 2021 and April 2025.

Summary Table

Event	Date	Amount	Investors/Source
Grant Awarded by EU (EIC)	Dec 2021	€2.5M (~$2.8M USD)	European Innovation Council

Edvince AB remains a privately held biotech company primarily supported by non-dilutive public sector innovation grants with ongoing development activities but has not announced additional venture capital rounds or exit events since winning the substantial backing from the European Commission’s flagship innovation program.

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Sources: - Edvince selected for 2.5 mio EUR grant from the European Innovation Council

• Edvince – Official Website
• Dealroom – Edvince Company Profile
• Dealflow.eu – Company Info & Funding
• Invest NY – Company Info & Investors
• Cision PR Newswire – FDA Orphan Drug Designation Announcement

3 The Press Releases

Edvince AB Overview

Edvince AB, a biotech company from Sweden, is recognized for its innovative approach in developing treatments for brain damage caused by cerebral ischemia. The company received a substantial grant from the European Innovation Council (EIC) Accelerator program in October 2021, marking a significant milestone in its development journey.

EIC Accelerator Funding

Edvince AB was selected for a 2.5 million EUR grant from the EIC Accelerator programme in December 2021. This funding supports their ongoing clinical trial for the treatment of subarachnoid hemorrhage (SAH) using their lead drug, EDV2209.

EDV2209 and Clinical Trials

EDV2209 is an orphan drug designed to treat brain ischemia associated with severe subarachnoid hemorrhage. It works by keeping blood vessels open in the brain, ensuring that brain cells receive necessary oxygen and nutrients to prevent damage. Edvince completed the first cohort of its phase I/II clinical trial with EDV2209 in May 2022, followed by the completion of the second cohort in October 2022, and initiated the third cohort in November 2022.

Orphan Drug Designation

EDV2209 received FDA Orphan Drug Designation in August 2017 for the treatment of subarachnoid hemorrhage. This designation provides significant benefits, including development cost incentives and market exclusivity for seven years post-approval. Additionally, EDV2209 was granted EU Orphan Medicinal Product Designation in November 2017.

Partnerships and Team

Edvince is supported by various investors, including its founder Professor Lars Edvinsson, the Krankajen Group, Almi Invest Syd, the Swedish Growth Fund, LMK Forward, and Sarah Fredriksson. The company is based at SmiLe Incubator in Lund, Sweden.

Current Status

As of recent updates, Edvince continues to advance its clinical trials and research in brain ischemia treatments. The company's focus remains on bringing disruptive treatments to the forefront, addressing the need for effective stroke treatments.

Press Releases and Updates

Edvince's updates are primarily available through their official website and news outlets. Recent news includes the progression of their clinical trials and the successful grant reception from the EIC Accelerator.

Sources

• Edvince News
• Edvince AB Granted FDA Orphan-Drug Designation for EDV2209
• Edvince

4 The Technology Advancements

Edvince AB's Post-EIC Accelerator Progress Since receiving €2.5 million from the European Innovation Council (EIC) Accelerator in December 2021, Edvince AB has advanced its clinical trial program for EDV2209, an orphan drug targeting brain ischemia in subarachnoid hemorrhage (SAH) patients. The company progressed through multiple trial cohorts, completing three patient groups by November 2022 and demonstrating consistent protocol execution. While no new patents explicitly linked to EDV2209 appear in public records, their clinical advancements reflect operational scale-up post-funding.

Clinical Trial Milestones

• Cohort completion: Finalized three patient cohorts between May 2022 and November 2022.
• Regulatory approvals: Secured ethics committee and regulatory clearances for SAH trials before initiating recruitment in March 2022.
• Pipeline focus: Maintains a single disclosed asset (EDV2209) with no publicly reported expansions to other therapeutic areas beyond SAH-related brain ischemia.

The EIC funding enabled sustained trial operations, though available data does not indicate technology enhancements or new features beyond the original drug mechanism of preserving cerebral blood flow. No customer partnerships or commercial pilots are detailed outside clinical trials.

Publications and Intellectual Property
Publicly accessible information does not reference new peer-reviewed studies or whitepapers directly tied to Edvince since 2021. Patent activity related to their core technology remains undisclosed except for foundational research by founder Prof. Lars Edvinsson on cerebral circulation mechanisms.

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Sources

• Edvince Official Website
• EIC Accelerator Funding Announcement
• Therapeutic Focus Details

5 The Partnerships and Customers

Edvince AB, a Swedish biotech company specializing in innovative treatments for stroke and brain ischemia, has received funding from the European Innovation Council (EIC) Accelerator program in October 2021. Since then, Edvince has advanced its clinical development with its lead drug candidate EDV2209, targeting subarachnoid hemorrhage (SAH), a severe brain condition related to stroke.

Partnerships and Customers

• As of the latest available information up to April 2025, Edvince AB does not publicly list specific named partners or customers. The company’s official website states that Edvince is actively open for partnering discussions. Their strategy involves securing a competent partner after completing the phase I/II clinical trial of EDV2209. This partner would ideally have the capacity to further develop and commercialize their product benefiting patients with subarachnoid hemorrhage.
• No announcements have been made about new partners or customers publicly associating themselves with Edvince since receiving EIC funding.

Nature and Purpose of Relationships

• The intended partnerships are focused on advancing clinical development beyond early-stage trials into commercialization phases. This implies partnership opportunities likely involve pharmaceutical companies or biotech firms capable of late-stage development, regulatory approval processes, manufacturing scale-up, and global marketing.
• By aligning with such partners post-phase I/II trial completion, Edvince aims to leverage external expertise and resources essential for scaling production capabilities and preparing for market entry.

Positioning in Market through Partnerships

• Establishing strategic partnerships after initial clinical validation will position Edvince as an emerging player addressing an unmet medical need — effective treatment options for brain ischemia following stroke events like SAH.
• Collaborations will enable access to broader networks within pharmaceutical development ecosystems as well as facilitate investment into larger-scale manufacturing infrastructure needed for orphan drugs like EDV2209.

Support for Technology Advancement and Scaling

• Partnering post-clinical trials supports technology advancement by enabling additional R&D activities funded through combined resources.
• Partnerships can bring expertise in drug formulation optimization, regulatory affairs navigation across different markets (e.g., EU & US), manufacturing process scale-up including automation technologies suitable for biologics or complex molecules typical in orphan drug categories.

In summary, while no specific new named partners or customers have been disclosed publicly by Edvince AB since winning EIC Accelerator funding in October 2021, the company is actively seeking collaboration opportunities focused on progressing their lead drug EDV2209 towards commercialization. These future partnerships will be pivotal both strategically—to establish market presence—and operationally—to advance technological capabilities necessary for scaling production and broad patient access.

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Sources:

• Edvince on SME DataHub
• Edvince Official Website
• Edvince Partnering Page
• Edvince News Updates
• Manufacturing Advances Reference - PMC Article

6 The Hiring and Company Growth

Edvince AB, a Swedish company focused on developing revolutionary treatments for stroke based on pioneering research in cerebral circulation and receptor regulation, received EIC Accelerator funding support in October 2021. Since then, details about their hiring or team growth are limited in publicly available sources. However, some insights can be pieced together based on their clinical progress and organizational context.

Current Headcount and Team Size There is no explicit information publicly available about Edvince's current headcount or detailed team size as of 2025. The company operates with a research-driven focus anchored around Professor Lars Edvinsson and his team conducting work at Lund University in Sweden and Glostrup Science Park in Denmark. Given the nature of biotech startups supported by the EIC Accelerator programme—with funds allocated toward clinical trials such as EDV2209 for brain ischemia—it is typical that such companies maintain specialized teams that include scientific researchers, clinical trial managers, regulatory affairs experts, and business development personnel.

Hiring Status No direct evidence was found indicating whether Edvince is currently hiring or specific new positions recently filled. Their active clinical trial phase implies ongoing recruitment needs typical for biotech firms progressing through drug development stages—such as roles in clinical operations, regulatory compliance, or R&D—to support scaling efforts. However, without explicit job postings or announcements from the company’s website or public databases searched here, this remains speculative.

Growth Since EIC Accelerator Funding Receiving €2.5 million from the EIC Accelerator to support ongoing clinical trials suggests significant growth potential enabled by this funding. Typically such funding rounds allow companies to expand teams to meet regulatory demands and prepare commercialization pathways.

Key New Hires & Impact on Future Growth No concrete data exists regarding specific key hires post-EIC approval at Edvince AB; nonetheless:

• Any expansion likely focuses on adding experts critical to advancing late-stage drug development.
• New personnel would strengthen capacity to execute complex multicenter trials.
• Additional business development staff would aid market access strategies targeting large stroke indications beyond subarachnoid hemorrhage (e.g., global ischemic stroke).
• Expanding scientific expertise supports innovation pipelines aligned with founder Prof. Lars Edvinsson’s vision.

These potential changes would be essential for scaling operations effectively while maintaining high-quality standards necessary for pharmaceutical success.

Management Changes There are no reported major changes within management or founding members since the company’s award of EIC funding; Prof. Lars Edvinsson remains central both scientifically and academically.

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In summary:

• Exact current headcount/team size unknown but likely includes a focused mix of scientific researchers and operational staff supporting an active Phase II/III orphan drug trial.
• No publicly confirmed recent hires or open positions identified.
• Company has grown functionally through progression into clinical trials funded by €2.5 million EIC grant awarded post-submission of Step 2 proposal in October 2021.
• Future growth will depend heavily on expanding multidisciplinary capabilities including science, regulatory affairs, clinical operations—critical roles typically scaled up after securing substantial innovation grants like EIC Accelerator awards.
• No information suggests any recent leadership shifts; founder-led approach continues underpinning strategic direction.

This assessment reflects data available as of April 2025 with primary reliance on official corporate communications supplemented by general knowledge about biotech firm scaling patterns post-EU innovation funding.

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Sources:

7 The Media Features and Publications

Edvince AB: A Swedish Biotech Innovator

Edvince AB is a Swedish biotech company that has gained significant recognition for its groundbreaking research and innovative treatments, particularly in the area of cerebral circulation and stroke. The company's pioneering work was acknowledged when it received the EIC Accelerator funding in October 2021.

Media Features and Publications

Edvince AB has been featured in several publications, primarily for its development of the drug EDV2209, which targets delayed cerebral ischemic events associated with subarachnoid hemorrhage. The company was granted FDA Orphan-Drug Designation for EDV2209, a designation that offers significant developmental and market benefits. Although specific media features and detailed publication content directly mentioning Edvince AB are limited in the available data, the company's work has been recognized in the context of its clinical trials and innovative drug development.

Podcasts and Interviews

There is no available information indicating that Edvince AB's team has participated in podcasts or interviews. The company's focus appears to be more on clinical research and development rather than public outreach through media platforms like podcasts.

Conference and Fair Visits

Edvince AB is based at SmiLe Incubator in Lund, Sweden, which suggests involvement in local innovation and biotech events. However, specific information about the company's participation in conferences or fairs is not readily available. The company's primary focus seems to be on advancing its drug development, particularly with EDV2209.

Involvement in Events

The company's involvement in broader events is largely tied to its research and development activities. Edvince AB is supported by the EIC Accelerator programme, which highlights its role in advancing breakthrough technologies in healthcare. While specific event participations are not detailed, the company's funding and drug development efforts indicate significant engagement in the scientific and medical communities.

Conclusion

Edvince AB is a pivotal player in the biotech sector, particularly in Sweden, with its focus on cerebral circulation and stroke treatments. The company's achievement in receiving the EIC Accelerator funding underscores its potential to bring innovative solutions to pressing medical challenges.

Sources

• Edvince
• Publications - Edvince
• Edvince AB was granted FDA Orphan-Drug Designation for EDV2209 in treatment of subarachnoid hemorrhage