1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The European Innovation Council (EIC) Accelerator program is a flagship initiative designed to support innovative small and medium-sized enterprises (SMEs) and startups within the European Union. It aims to foster the development of disruptive technologies and solutions in various sectors, particularly within deep tech, which encompasses advanced technologies such as artificial intelligence, biotechnology, and advanced materials. The program provides funding through a blended finance model, which combines grants and equity investments, thereby making it a pivotal resource for scaling high-impact innovations.

Funding Structure

The EIC Accelerator offers a unique funding structure that includes:

Purpose of the EIC Accelerator

The primary objective of the EIC Accelerator is to bridge the funding gap that often exists for innovative startups and SMEs. By offering both grants and equity, the program not only mitigates financial risks but also enhances the attractiveness of European startups to private investors. The EIC Accelerator serves as a catalyst for growth by facilitating access to essential resources that allow companies to scale their technologies and innovations effectively.

Role in the Startup Ecosystem

The EIC Accelerator plays a vital role in the European startup ecosystem by promoting collaboration between public and private sectors. It encourages synergistic partnerships that can lead to sustainable innovations. Additionally, the program provides mentorship, networking opportunities, and access to a vast pool of expertise, which are essential for startups looking to navigate the complex landscape of technology commercialization.

Case Study: ELEM BIOTECH SL and the ELVIS Project

Company Overview: ELEM BIOTECH SL, based in Spain, is an innovative company dedicated to advancing biotechnological solutions, particularly in the field of computational biology and personalized medicine.

Project Acronym: ELVIS (ELEM Virtual Heart Populations for Supercomputers)

Project Description: The ELVIS project aims to develop advanced computational models of human cardiac populations using supercomputing technologies. This initiative is designed to enhance the understanding of cardiac diseases and improve drug efficacy through personalized approaches.

Technology Background: The technology underpinning the ELVIS project focuses on creating virtual populations of human hearts that can simulate various physiological and pathological conditions. By leveraging supercomputing capabilities, ELEM BIOTECH SL intends to generate high-fidelity simulations that reflect individual variations in heart function. This methodology is pivotal for understanding the complexities of cardiovascular diseases, which can vary significantly from one individual to another.

The ELVIS project integrates cutting-edge computational algorithms with extensive datasets derived from clinical studies and biobanks. These simulations will not only facilitate drug development processes but also pave the way for personalized treatment strategies that can be tailored to individual patients based on their unique cardiac profiles.

Conclusion

The EIC Accelerator stands as a transformative platform for young companies like ELEM BIOTECH SL, enabling them to unlock their potential through substantial funding and strategic support. By fostering innovative projects such as ELVIS, the program contributes significantly to the advancement of deep tech solutions in Europe, ultimately enhancing healthcare outcomes and driving economic growth. The dual funding approach of grants and equity ensures that companies can mitigate risks while scaling their innovations efficiently in a competitive market.

2 The Funding Rounds

ELEM BIOTECH SL: Financing and Funding Overview Since EIC Accelerator Award

ELEM BIOTECH SL, a Spanish company specializing in advanced biomedical simulation software, was selected for funding under the European Innovation Council (EIC) Accelerator program following the October 5, 2022 cut-off. Below is a detailed overview of its financing events and related data since receiving this notable EU award.

Financing Raised

• As of December 2022, ELEM BIOTECH had raised approximately $1.35 million across six funding rounds.
• The company’s estimated valuation in December 2021 stood at $8.45 million.

Funding Rounds: Timing and Amounts

• The most recent reported round is a grant received on December 24, 2022.
• While individual round breakdowns are not fully public, it is confirmed that all six rounds together amount to $1.35 million as of late 2022; this figure includes both grants and possible equity investments.

EIC Accelerator Grant Details

• ELEM BIOTECH was one of only 78 companies selected out of over 1000 applications for the October 2022 cut-off. Selected firms are eligible for up to €17.5 million in blended finance (grant plus equity), though the precise allocation per company is not fully disclosed publicly by the EU or by ELEM itself.
• The majority (57%) of funded companies in this cohort received blended finance combining both grant and equity investment components—an approach likely applicable to ELEM given their stage and sector focus.

Investor Information

• Specific investor names for private fundraising rounds have not been disclosed publicly as of May 2025.
• Public databases list general “investors,” but do not specify institutional or individual backers linked directly to each round; several entries indicate ‘Early VC’ involvement without further detail.

Company Valuation Data

Date	Valuation Estimate
Dec. 2021	$8 – $8.45M

Estimates based on Dealroom.co and CB Insights reports; more recent valuations post-EIC award have not been published openly.

Exit Events: IPO/Buyouts/Acquisitions

No Initial Public Offering (IPO), buyout, or acquisition events have been reported for ELEM BIOTECH as of May 2025.

Summary Table

Event	Date	Amount	Type
Funding Round #6	Dec. 24, 2022	Undisclosed	Grant
Total Funding Raised	By Dec. '22	~$1.35M	Multiple
Last Known Company Value	Dec. '21	~$8–$8.45M	N/A

No exit event has occurred since their receipt of significant EU innovation backing.

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Sources

• EIC Accelerator - October Cutoff Winners List
• CB Insights – Elem Biotech Financials
• Dealroom – Elem Biotech Company Profile
• Strata.team – October Cutoff Statistics

3 The Press Releases

Overview of ELEM Biotech SL

ELEM Biotech SL, a Spanish company based in Barcelona, is a spin-off from the Barcelona Supercomputing Center. The company specializes in creating populations of virtual humans to predict the outcomes of pharmacological and medical device therapeutics using advanced supercomputing technology.

EIC Accelerator Funding

ELEM Biotech SL submitted its Step 2 proposal to the EIC Accelerator on October 5, 2022, and later won funding in the Step 3 interview. This funding has likely enhanced its capabilities to further develop and commercialize its innovative virtual human simulation platform.

Technology Advancements

The core technology of ELEM Biotech is the Alya platform, which has evolved significantly since its inception. Initially developed at the Barcelona Supercomputing Center, Alya has become a critical component of ELEM's Virtual Humans simulation. Over the years, the platform has seen significant advancements, with over 100 research papers published and substantial investment in its development.

Partnerships and Collaborations

While specific recent partnerships or collaborations post-EIC funding are not detailed in the available data, ELEM emphasizes collaboration with various stakeholders, including clients and partners, to advance its vision of making virtual humans a standard for in silico testing.

Team Updates

ELEM Biotech is composed of a multidisciplinary team that integrates expertise from engineering, mathematics, physics, biology, medicine, and computer science. However, recent updates on team expansions or leadership changes are not readily available.

Press Releases and Updates

ELEM Biotech does not have a comprehensive list of recent press releases on its website. However, the company is active in media and conferences, with appearances such as discussing innovative trial designs and the potential of digital twins in healthcare.

Technology and Impact

ELEM's focus is on transforming medical innovation by utilizing its Virtual Humans platform for preclinical and clinical testing, regulatory approval, and treatment decision-making. This technology has the potential to revolutionize how medical testing is conducted globally.

Sources

• ELEM Biotech
• ELEM Biotech: The Virtual Humans Factory
• ELEM Biotech in the Media

4 The Technology Advancements

ELEM BIOTECH SL: Post-EIC Accelerator Funding Advancements

ELEM BIOTECH SL, a Barcelona-based biomedical simulation spin-off from the Barcelona Supercomputing Center (BSC), specializes in creating virtual human populations for testing pharmacological and medical device therapies. Since receiving EIC Accelerator funding in October 2022, the company has focused on enhancing its proprietary supercomputing-driven platform while expanding real-world applications.

Core Capabilities

ELEM’s technology leverages high-performance computing (HPC) to simulate human physiology at cellular levels, particularly cardiovascular systems. Their cloud-deployed virtual humans enable rapid testing of therapeutics with medical-grade accuracy, reducing reliance on traditional clinical trials. The platform integrates multidisciplinary expertise across engineering, biology, and medicine to model patient-specific outcomes.

Technological Improvements

• 40% Faster Simulations: Through a partnership with Viridien’s HPC Cloud infrastructure, ELEM reduced cardiac simulation times by 40%, enabling faster insights into drug and device efficacy.
• Scalable Cloud Solutions: Customizable HPC platforms now allow dynamic resource allocation tailored to project needs, balancing cost and performance while maintaining regulatory compliance.
• Multi-Organ Expansion Ambitions: While cardiovascular modeling remains their flagship application (e.g., simulating heartbeats using thousands of cores), ELEM aims to extend simulations to additional organ systems as part of their long-term roadmap.

Market Demonstrations

• Industry Adoption: Pharmaceutical companies and medtech firms currently use ELEM’s platform for preclinical testing and risk assessment. Case studies highlight accelerated decision-making for cardiac-related therapeutics.
• Collaborative Validation: Though no specific clinical trials are publicly documented post-EIC funding, their technology relies on real patient data integration to generate actionable evidence for stakeholders.

Intellectual Property & Publications

While recent patents are not explicitly listed in available materials:

• Alya Red Project Legacy: The foundational Alya codebase—developed over 14 years with €5 million invested—remains central to their IP portfolio. It has been cited in over 100 peer-reviewed publications prior to spin-off formation.
• Whitepapers & Case Studies: Collaborative reports with Viridien detail technical benchmarks such as enhanced simulation throughput and cloud optimization strategies post-EIC funding period/PDF.

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Sources

ELEM Biotech Official Website | Our Company Page | Viridien Case Study (2025) | Barcelona Startup Hub Profile

5 The Partnerships and Customers

ELEM Biotech: Partnerships and Developments

ELEM Biotech, a Spanish biomedical simulation company, has been recognized for its innovative approach to creating virtual humans for predicting the outcomes of pharmacological and medical device therapeutics. Since receiving the EIC Accelerator funding in October 2022, ELEM Biotech has continued to expand its technological capabilities and foster strategic partnerships.

Partnerships and Customers

One notable partnership is with Boehringer Ingelheim, a leading global pharmaceutical company. This collaboration focuses on utilizing ELEM's virtual human trials for pre-clinical cardiac safety assessments. This partnership aims to enhance the early identification of cardiac risks associated with drug development, addressing the ethical and cost concerns related to traditional animal testing methods.

ELEM Biotech is also closely associated with the Barcelona Supercomputing Center (BSC), from which it originated as a spin-off. This relationship provides ELEM with access to advanced supercomputing resources, enabling the development of sophisticated virtual human simulations.

New Partnerships

While specific details on new partnerships since the EIC funding are not extensively documented, ELEM Biotech's strategy emphasizes collaboration with clients who share its ambitious vision. The company aims to expand its technology by simulating multiple human organs, which could attract new partners interested in leveraging these advancements for medical innovation.

Nature of New Relationships

ELEM Biotech's focus on expanding its virtual human simulations to multiple organs positions it to attract partners from diverse sectors within the healthcare industry. These partnerships are likely to involve collaborations with pharmaceutical companies, medical device manufacturers, and research institutions seeking to benefit from ELEM's advanced simulation technology.

Positioning in the Market

By developing and deploying supercomputer-based virtual human platforms, ELEM Biotech aims to become a standard for in silico testing in the healthcare sector. This approach not only enhances the efficiency and ethicality of drug development but also positions ELEM as a leader in personalized medicine, utilizing data and AI to predict and prevent diseases more effectively.

Technology Advancements and Scaling

The partnerships and collaborations are crucial for ELEM Biotech's technology advancements by providing access to diverse datasets and expertise. This can help refine its models and ensure they are clinically relevant and compliant with regulatory requirements. Furthermore, these relationships facilitate scaling by expanding the market reach of ELEM's virtual human simulations, potentially leading to increased adoption across the pharmaceutical and medical device industries.

Sources

• ELEM Biotech
• Boehringer Case Study
• About ELEM Biotech
• CORDIS: ELEM Virtual Heart Populations
• BSC Demonstrates Power of Supercomputing
• BSC Spin-offs
• ELEM Biotech at Barcelona Startup Hub

6 The Hiring and Company Growth

ELEM Biotech SL: Growth and Development Post-EIC Accelerator Funding

ELEM Biotech SL, a Spanish biomedical simulation company and winner of the EIC Accelerator funding in October 2022, has been at the forefront of transforming medical innovation through its sophisticated virtual human simulation platforms. Since receiving the funding, ELEM Biotech has continued to expand its capabilities in using supercomputer-based simulations for in silico testing, aiming to revolutionize preclinical and clinical trials.

Current Headcount and Team Size

The current headcount or team size of ELEM Biotech is not explicitly stated in available sources. However, the company is known to have evolved from the Alya Project at the Barcelona Supercomputing Center (BSC), which grew from a small team of four to over 40 members during its development phase.

Hiring and Growth

ELEM Biotech is actively involved in hiring, as indicated by their website, which invites interested candidates to join their team. This suggests ongoing growth and expansion of their operations. The company's focus on collaboration and transparency within its team and with partners also suggests a commitment to building a strong workforce.

Key Positions Recently Hired

Specific details about recent hires or key positions are not readily available. However, given the interdisciplinary nature of ELEM Biotech's work, it is likely that they are looking for professionals with expertise in fields such as engineering, mathematics, physics, biology, medicine, and computer science.

Impact of New Team Members on Company Growth

The addition of new team members will be crucial for ELEM Biotech's future growth and scalability. By expanding its team, the company can further develop its virtual human simulation technology, enhance its market presence, and increase partnerships with clients who share its ambitious vision.

Changes in Management or Founding Team

There is no specific information available regarding major changes in ELEM Biotech's management or founding team since receiving the EIC Accelerator funding.

Conclusion

ELEM Biotech SL continues to advance its mission to integrate virtual humans into medical testing and innovation. With ongoing hiring and a focus on team growth, the company is well-positioned to expand its impact in the biomedical sector.

Sources: - ELEM Biotech

ELEM Biotech: Our Company

7 The Media Features and Publications

ELEM Biotech S.L. Overview

ELEM Biotech S.L., a Spanish company, is a biomedical simulation spin-off from the Barcelona Supercomputing Center. It specializes in creating populations of virtual humans to predict the outcomes of pharmacological and medical device therapies. The company is headquartered in Barcelona, Spain, and has a strong presence in the UK.

Media Features and Publications

ELEM Biotech has been featured in various media outlets for its innovative approach to medical simulation. For instance, in February 2020, it was highlighted for partnering with Oracle Cloud Infrastructure to create virtual humans and accelerate medical treatments. This collaboration allows for advanced simulations and detailed analysis using the Alya Red virtual human platform.

Podcasts and Interviews

There is no specific information available about podcasts or interviews featuring ELEM Biotech's team. However, the company is actively involved in conferences and workshops, showcasing its cutting-edge technology.

Conference and Fair Visits

ELEM Biotech participates in significant events, such as the Mobile World Congress (MWC), where it collaborates with the Barcelona Supercomputing Center to demonstrate the power of supercomputing in creating digital twins of human organs. This involvement highlights the company's role in advancing personalized medicine through supercomputing and AI.

Event Involvement

ELEM Biotech is involved in various events promoting biotechnology and supercomputing. It leverages these platforms to showcase its technology and contribute to discussions on the future of medical research and treatment.

EIC Accelerator Funding

On October 5, 2022, ELEM Biotech S.L. won the EIC Accelerator funding, marking a significant milestone for the company. This funding supports its mission to further develop and commercialize its virtual human simulation technology, enhancing the development and validation of new medical treatments.

Sources: - ELEM Biotech

• ELEM BIOTECH S.L. overview
• Elem Biotech S.L - Company Profile
• ELEM Biotech creates virtual humans and accelerates medical development
• BSC to demonstrate the power of supercomputing at the MWC