1 The EIC Accelerator Project
The EIC Accelerator program is a significant initiative under the European Innovation Council (EIC), aimed at supporting small and medium-sized enterprises (SMEs) and startups that are developing groundbreaking innovations. This program is particularly focused on DeepTech sectors, which encompass advanced technologies such as biotechnology, AI, and advanced materials. The program's dual funding mechanism consists of grants and equity investments, designed to help these companies navigate the critical stages of development and commercialization.Funding Structure
The EIC Accelerator provides blended finance, consisting of both grants and equity investments. The grant component can reach up to €2.5 million, providing crucial non-dilutive funding that can be used for various R&D activities, pilot projects, or early-stage commercialization efforts. This funding enables companies to validate their technology and business models without the immediate pressure of generating revenue.
In addition to grants, the EIC Accelerator also offers equity funding. Initially, the program allowed for equity investments of up to €15 million until 2024, transitioning to a maximum of €10 million post-2025. This equity investment is particularly valuable for startups seeking to scale their operations and bring their innovations to market, as it can complement other funding sources and attract additional private sector investments.
Purpose and Impact
The primary purpose of the EIC Accelerator is to foster innovation and entrepreneurship across Europe, particularly in the DeepTech sector. By providing substantial financial resources and support, the program aims to bridge the funding gap that many innovative companies face, especially in their early stages. The EIC Accelerator not only assists in scaling businesses but also enhances their visibility and credibility, making it easier for them to secure additional funding from private investors.
Furthermore, the program contributes to the European startup ecosystem by promoting collaboration among startups, investors, and research institutions. This collaborative environment facilitates knowledge transfer and accelerates the commercialization of innovative technologies.
Case Study: Cardiac Success Ltd. and the V-sling Project
Cardiac Success Ltd. is a prominent winner of the EIC Accelerator, having successfully submitted a Step 2 proposal on October 6, 2021, and later winning in the Step 3 interview. The company is based in Israel and focuses on developing innovative medical devices aimed at improving patient outcomes in cardiovascular health.
Project Overview: V-sling
The V-sling project is centered around a transcatheter ventricular repair device designed specifically for the treatment of heart failure patients. Heart failure is a significant global health issue, affecting millions of people and often leading to severe morbidity and mortality. The V-sling device addresses a critical need for effective treatments that can enhance cardiac function and improve patients' quality of life.
Technology Basics and Background
The V-sling technology is based on a minimally invasive approach that enables the repair of ventricular structures without the need for open-heart surgery. Traditional surgical interventions for heart failure often involve significant risks and prolonged recovery times. In contrast, the V-sling device aims to provide a safer alternative by utilizing transcatheter techniques, which involve inserting a catheter through a blood vessel to deliver the device directly to the heart.
This innovative approach is expected to reduce complications associated with traditional surgery, such as infection and extended hospital stays. The V-sling device is designed to provide structural support to the heart's ventricles, potentially improving their function and overall cardiac output. By addressing the underlying mechanical issues contributing to heart failure, the V-sling has the potential to significantly improve patient outcomes.
The development of the V-sling reflects the growing trend towards minimally invasive medical technologies, which are increasingly becoming the standard in cardiovascular treatments. As the field of cardiac therapy evolves, devices like the V-sling could play a pivotal role in transforming the management of heart failure, offering hope to millions of patients worldwide.
In conclusion, the EIC Accelerator program stands as a vital resource for innovative companies like Cardiac Success Ltd., facilitating the development of groundbreaking technologies that address pressing healthcare challenges. Through its blended finance model and focus on deep technology, the EIC Accelerator not only supports individual companies but also contributes to the broader landscape of innovation in Europe.
2 The Funding Rounds
Cardiac Success Ltd.: Funding and Financing Events Since EIC Accelerator Award
Overview
Cardiac Success Ltd., an Israeli medical device startup developing the minimally invasive V-sling™ transcatheter ventricular repair device for heart failure patients, has seen significant financing and investment activity since submitting its Step 2 proposal to the EIC Accelerator in October 2021 and winning at Step 3. The company is headquartered in Yokneam, Israel.
Funding Raised & Rounds
- June 2021: Series A Round
- Amount: US $5.2 million
- Investors:
- Lead investor: 415 Capital (medical technology-focused VC)
- Unnamed global strategic investor specializing in structural heart interventions
- Group of Israeli angel investors
- Purpose: Support pre-clinical testing and completion of a First-in-Human trial of the V-sling system.
- Late 2021/Early 2022: European Innovation Council (EIC) Accelerator Award
- Blended financing total: €10 million (~US $11.4 million at then-current rates)
- Grant portion: €2.5 million
- Equity investment portion: €7.5 million
- The equity portion was structured as part of the company's next round.
- This funding aimed to accelerate clinical development, complete a First-in-Human trial, and initiate regulatory approval studies for the V-sling system.
- Total Reported Funding (as of April 2025):
Timing and Details of Rounds
| Date | Round | Amount | Investors/Notes |
|---|---|---|---|
| June 23, 2021 | Series A | US $5.2M | Led by 415 Capital; unnamed global strategic; angels |
| Oct/Dec ‘21 – Jan ‘22 | EIC Grant + Equity | €10M (€2.5M grant + €7.5M equity) | European Innovation Council Accelerator |
<em class="publication">The Series A closed just prior to or concurrent with Cardiac Success’s successful advancement through the EIC selection process.
Investor Information
- 415 Capital: Lead investor in Series A; specialist VC focused on cardiovascular/neurovascular medtech startups.
- Unnamed Global Strategic Investor: Specialist in structural heart interventions—name undisclosed but described as a "global leader" in this field.
- Israeli Angel Investors: Participated alongside institutional partners during early rounds.
- European Innovation Council Fund: Provided non-dilutive grant plus substantial equity investment as part of blended financing package following rigorous selection process.
Company Valuation
No explicit post-money valuation figures are publicly disclosed for any round conducted by Cardiac Success Ltd., including after receipt of either venture or public funding up to April 2025.
Exit Events (IPO / Buyouts / Acquisitions)
As of April 23, 2025:
- No record exists indicating that Cardiac Success Ltd. has undergone an IPO, been acquired/bought out, or participated in any other exit event.
- The company remains privately held with ongoing clinical development operations.
Sources
- Cardiac Success official website
- Startup Nation Finder profile
- FinSMEs report on Series A
- PRWeb release on EUR10m EIC award
- PRWeb release on Series A closing
- Dealroom profile
- 415 Capital portfolio entry
3 The Press Releases
Overview of Cardiac Success Ltd.
Cardiac Success Ltd. is an Israel-based medical device company specializing in the development of a transcatheter ventricular repair device for heart failure patients. The company's innovative product, the "V-sling" system, aims to transform invasive open-heart surgeries into safe and effective minimally-invasive procedures for treating Heart Failure with Reduced Ejection Fraction (HFrEF).
Technology and Treatment Approach
The V-sling device is designed based on a successful surgical papillary muscle approximation procedure. It is intended to improve the quality of life for millions of patients who continue to suffer from HFrEF despite receiving guidance-directed medical therapy. This technology could significantly reduce hospitalization time and costs by offering a more accessible and less invasive treatment option.
Funding and Partnerships
In June 2021, Cardiac Success announced the successful closing of a $5.2 million Series A financing round, led by 415 CAPITAL, with participation from an unnamed global leader in structural heart interventions and a group of Israeli angel investors. This funding is being used for pre-clinical testing and the completion of a First-in-Human trial of the V-sling heart failure therapy.
Team and Management
The company's management team includes Boaz Manash as CEO, Prof. Rafael Beyar as Chief Medical Officer, and Dr. David Neustadter as Chief Technology Officer. Dr. Shimon Eckhouse, a serial entrepreneur, was instrumental in founding the company within the Alon Medtech Ventures incubator.
Patents and Intellectual Property
Cardiac Success has been granted four U.S. patents and has additional patents pending in the U.S., Europe, and other countries, protecting methods of treatment and the implant design of the V-sling system.
Recent Developments and EIC Accelerator Funding
Cardiac Success submitted its Step 2 proposal to the EIC Accelerator in October 2021 and later won in the Step 3 interview on October 6, 2021. However, specific details about the funding amount or the exact nature of the project supported by the EIC Accelerator are not provided in the available sources.
Press Releases and Updates
For the most recent press releases or updates, visiting the company's website at cardiacsuccess.com is recommended. However, as of the latest available information, the company's focus remains on advancing the V-sling system through clinical trials and further development.
Sources
Cardiac Success Cardiac Success Secures $5.2M for Transcatheter Ventricular Repair Cardiac Success Has New Treatment for Heart Failure Cardiac Success - 415 Capital Israeli Medical Device Startup, Cardiac Success Ltd., Closes US $5.2M Series A Financing4 The Technology Advancements
Cardiac Success Ltd., based in Yokne'am Illit, Israel, is a medical device company specializing in innovative transcatheter ventricular repair technology aimed at treating patients with Heart Failure with Reduced Ejection Fraction (HFrEF). Their flagship product, the V-sling device, is designed to reshape the left ventricle of the heart minimally invasively by replicating a successful surgical papillary muscle approximation procedure via a safe transcatheter approach.Since receiving the EIC Accelerator funding on October 6, 2021, Cardiac Success has made several notable advancements:
In summary:
| Aspect | Status / Advancement |
|---|---|
| Core Technology | V-sling transcatheter ventricular repair system |
| Post-EIC Funding Progress | Advanced into First-in-Human clinical trial phase |
| Market Demonstrations | Presented at THT Boston conference with expert endorsements |
| Patents | Four granted US patents + multiple pending; no new filings reported recently |
| Scientific Publications | No new public studies or whitepapers identified |
Cardiac Success continues developing its minimally invasive therapy for HFrEF patients who have limited options beyond medical therapy today. Their recent activities demonstrate progress toward commercial readiness including active clinical evaluations and engagement with cardiology opinion leaders worldwide.
Sources:
- Cardiac Success official website
- Cardiac Success featured at THT 2023 Conference
- 415 Capital profile on Cardiac Success
- PRWeb announcement on Series A Financing June 2021
- Alon Medtech Ventures article on Series A Financing
5 The Partnerships and Customers
Overview of Cardiac Success Ltd.
Since receiving the European Innovation Council (EIC) Accelerator funding in 2021, Cardiac Success Ltd., an Israeli medical device company, has made significant strides in developing innovative treatments for heart failure patients. The company is based in Yokneam, Israel, and was founded in 2017 within the Alon Medtech Ventures' incubator by Dr. Shimon Eckhouse and Dr. David Neustadter.
Partnerships and Customers
Cardiac Success has formed partnerships primarily with investors and strategic partners in the cardiac field. One notable partnership was established during its Series A financing round, which was led by 415 CAPITAL, a specialist VC firm focusing on cardio-and neurovascular technologies. An unnamed global strategic leader in structural heart interventions and a group of Israeli angel investors also participated in this round.
Currently, there is no specific information available about new customer or partner names that Cardiac Success has associated itself with since receiving the EIC funding. However, the support from strategic investors indicates their confidence in the company's technology and potential market impact.
New Relationships and Their Purpose
The new relationships, particularly with investors and strategic partners, are aimed at accelerating the clinical development of Cardiac Success's "V-sling" system. This system is designed to revolutionize the treatment of heart failure by providing a minimally invasive transcatheter procedure, potentially improving patient outcomes and reducing healthcare costs.
Positioning in the Market
These relationships position Cardiac Success Ltd. as a pioneering company in the heart failure treatment market, especially in the development of transcatheter technologies. The funding and partnerships will enable the company to further establish itself as a leader in innovative cardiac treatments, potentially disrupting traditional methods of heart failure management.
Technology Advancements and Scaling
The partnerships and funding are crucial for advancing the technology behind the "V-sling" system. They will facilitate the completion of critical clinical trials, such as the First-in-Human trial and regulatory approval studies, which are essential for scaling the technology and making it available to a broader patient population.
In summary, while specific new customer or partner names are not detailed, Cardiac Success's strategic investments and partnerships play a crucial role in advancing its technology and positioning itself for future growth in the cardiac treatment market.
Sources: - Cardiac Success Awarded €10M in Grants and Equity Investment
- Cardiac Success
- Israeli Medical Device Startup, Cardiac Success Ltd., Closes US $5.2M Series A Financing
- Medical device startup Cardiac Success closes $5.2 million Series A
- Cardiac Success - 415 Capital
6 The Hiring and Company Growth
Cardiac Success Ltd. OverviewCardiac Success Ltd., based in Israel, received EIC Accelerator funding in October 2021. The company is pioneering a novel transcatheter procedure for treating heart failure with reduced ejection fraction (HFrEF) by directly reshaping the ventricle to halt the cycle of deterioration. Despite this innovative approach, specific details about the company's current headcount, team size, hiring status, or recent growth are not publicly available.
Hiring and Team Growth
There is no specific information available regarding whether Cardiac Success is currently hiring or how much the team has grown since receiving the EIC funding. The company's focus on advanced medical technology suggests a need for skilled professionals, but concrete hiring details are not provided.
Key Positions and Future Impact
While there is no information on specific recent hires, the addition of new team members would likely be crucial for scaling and growth, particularly in areas such as research and development, clinical trials, and regulatory affairs. New members could enhance the company's ability to advance its technology, expand clinical trials, and navigate regulatory approvals.
Management and Founding Team Changes
There are no noted changes in management or the founding team at Cardiac Success as of the latest available information.
Conclusion
Cardiac Success Ltd. is advancing heart failure treatments with its innovative approach, but detailed information on team size, hiring status, or recent management changes is limited. As the company progresses with its groundbreaking technology, it will likely require strategic talent acquisition to support its growth and success in the medical device industry.
Sources
7 The Media Features and Publications
Overview of Cardiac Success Ltd.
Cardiac Success Ltd., an Israeli medical device company, is renowned for developing innovative solutions for heart failure patients. The company has been active since its founding in 2017 and is headquartered in Yokneam, Israel. It gained significant attention in 2021 for securing $5.2 million in Series A funding to pursue its groundbreaking V-sling device.
Media Features
Despite the limited media coverage specific to Cardiac Success Ltd., the company's achievements have been highlighted in specialized medical technology publications. For instance, the successful Series A funding round was reported by various outlets, emphasizing the company's potential in treating Heart Failure with Reduced Ejection Fraction (HFrEF) using its V-sling device.
Publications
Publications that have named Cardiac Success Ltd. primarily focus on its innovative V-sling technology, which transforms invasive open-heart surgery into a minimally invasive transcatheter procedure. These publications often discuss the company's funding rounds and its mission to provide better treatment options for heart failure patients.
Content from Publications
The content typically centers around Cardiac Success's role in developing transcatheter ventricular repair devices. It highlights the company's commitment to improving patient outcomes through less invasive procedures, reducing the need for prolonged hospital stays and associated costs.
Podcasts or Interviews
Currently, there are no specific podcasts or interviews featuring the team from Cardiac Success Ltd. However, the company's vision and technology have likely been discussed in broader contexts related to heart health and medical innovation.
Conference and Fair Visits, Presentations
While there is no direct information on Cardiac Success Ltd.'s participation in conferences or fairs, its involvement in pre-clinical testing and First-in-Human trials suggests active engagement with the medical community. The company's clinical operations span Israel, Poland, and Georgia, indicating a global approach to its research and development.
Involvement in Events
Cardiac Success Ltd.'s involvement in events is primarily through its clinical trials and research collaborations. As the company progresses with its V-sling device, it may participate in future medical conferences to present its findings and advancements.
EIC Accelerator Funding
Cardiac Success Ltd. submitted its proposal for the EIC Accelerator funding in October 2021, eventually winning in the Step 3 interview. This funding supports innovative companies like Cardiac Success in scaling up their operations and bringing groundbreaking technologies to market.
Conclusion
Cardiac Success Ltd. is at the forefront of medical innovation, particularly in heart failure treatment. With its V-sling device and significant funding achievements, the company is poised to make a significant impact on the global healthcare landscape.
Sources
- Cardiac Success
- Cardiac Success - 415 Capital
- Israeli Medical Device Startup, Cardiac Success Ltd., Closes US $5.2M Series A Financing
- Cardiac Success Secures $5.2M for Transcatheter Ventricular Repair Device
- Cardiac Success Ltd. Asset Profile
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