1 The EIC Accelerator Project

The EIC Accelerator program represents a pivotal initiative within the European Innovation Council, aimed at fostering innovation and scaling startups, particularly in the DeepTech sector. This program is designed to support small and medium-sized enterprises (SMEs) and startups that possess high-risk, high-potential innovations, enabling them to bridge the gap between concept and market entry.

EIC Accelerator Funding Structure

The EIC Accelerator offers a unique funding model known as blended finance, which combines grants and equity investments. The grant component can reach up to €2.5 million, aimed at covering various costs associated with the development of innovative products and services. This grant is intended to support early-stage development, including research, prototyping, testing, and market preparation.

In addition to the grant, the EIC Accelerator also provides equity funding, which can be critical for scaling operations. As of 2024, eligible companies can secure equity investments of up to €15 million. Starting from 2025, this amount will be adjusted to a maximum of €10 million. This funding is intended to attract private sector investments by demonstrating a commitment to support innovative ventures through a combination of public and private funding.

Purpose of the EIC Accelerator

The EIC Accelerator plays a crucial role in the European DeepTech and startup ecosystem by catalyzing innovation and entrepreneurial activity. Its objectives include addressing market failures and providing financial support to companies that may struggle to secure funding from traditional sources due to the high risks associated with their innovations. By offering a pathway to substantial funding, the EIC Accelerator enables startups to scale their operations, refine their technologies, and ultimately bring their innovations to market. This support is particularly vital for sectors that involve complex technological challenges, such as biotechnology, advanced manufacturing, and medical devices.

Impact on Scaling and Private Sector Funding

The EIC Accelerator's blended finance approach not only provides immediate financial support but also enhances the credibility of recipient companies in the eyes of private investors. By demonstrating the backing of the EIC, startups are often better positioned to attract additional investments from venture capitalists and other private sector entities. This creates a synergistic effect, where public funding serves as a catalyst for further private investment, thereby increasing the likelihood of successful market entry and growth.

Case Study: COLOSPAN LTD and Project CG-100

COLOSPAN LTD is a notable winner of the EIC Accelerator, awarded funding for its innovative project, CG-100. This project focuses on developing a temporary intraluminal bypass device designed to significantly reduce the incidence of diverting stomas and their associated complications by at least 70%. The company submitted its Step 2 proposal on October 6, 2021, and subsequently excelled in the Step 3 interview, securing funding to advance its pioneering solution.

Technology Overview and Background

The CG-100 project aims to address a critical challenge in surgical procedures, particularly those involving colorectal surgeries. Diverting stomas are often created during certain surgical interventions to divert fecal matter away from the affected area, allowing for healing. However, these stomas can lead to complications such as skin irritation, infection, and decreased quality of life for patients. The CG-100 device serves as a temporary bypass, facilitating the normal passage of intestinal contents while minimizing the need for permanent stomas.

The technology behind CG-100 is rooted in advanced medical device engineering, focusing on biocompatibility, ease of use, and patient safety. The device is designed to be minimally invasive, aiming to improve patient outcomes by reducing the complications associated with traditional stoma creation. By leveraging innovative materials and design principles, COLOSPAN LTD seeks to provide healthcare professionals with an effective tool that enhances surgical practices.

In summary, the EIC Accelerator program embodies a strategic effort to invigorate the European innovation landscape, particularly within the DeepTech sector. By offering substantial funding through a blended finance approach, the program supports startups like COLOSPAN LTD in their mission to develop groundbreaking technologies such as the CG-100. This initiative not only facilitates the growth of individual companies but also contributes to advancements in healthcare and other critical fields, ultimately enhancing societal well-being.

2 The Funding Rounds

Colospan Ltd: Financing and Funding Rounds

Colospan Ltd, an Israeli company specializing in innovative solutions for colorectal surgery, has secured significant funding over the years to advance its medical device technology.

Funding Rounds

Investor Information

Colospan's investors include leading venture capital firms and strategic partners from Israel, Europe, and China. Key investors are:

• Triventures
• CBI
• VLVJ
• Anatomy
• Docor
• Virtus Inspire
• The Alfred Mann Institute of Technology (AMIT) at the Technion Institute of Technology

Company Valuations and Exit Events

There is no publicly disclosed information regarding Colospan's company valuations or any exit events such as acquisitions or initial public offerings (IPOs).

EIC Accelerator Funding

Colospan was selected for the EIC Accelerator program in October 2021, as part of a highly competitive funding round. This program provides both grants and equity investments to support innovative technologies. Colospan's participation in this program underscores its potential to transform colorectal surgery with its innovative medical devices.

Information Related to Funding Rounds

Colospan's funding rounds are aimed at advancing its flagship product, the CG-100 Intraluminal Bypass device. This device offers a temporary intraluminal bypass solution to reduce the need for diverting stomas and their related complications in colorectal surgery. The CG-100 has received CE marking and is available for commercial use in the European Union.

Sources: - Colospan Financials

• Colospan Completes $7.7M Equity Financing Round
• Colospan company information
• Recent News about Colospan
• Colospan company information, funding & investors
• EIC Accelerator – 71 companies selected
• Colospan About
• Colospan Home
• AMIT Invests $0.5M in Colospan

3 The Press Releases

Colospan Ltd., an Israeli medical device company specializing in colorectal surgery solutions, has made significant progress and announcements since receiving the European Innovation Council (EIC) Accelerator funding on October 6, 2021. The company was awarded €8.2 million ($9.3 million) from the EIC Accelerator program in December 2021 to help bring its innovative colorectal surgical device, CG-100 Intraluminal Bypass Device, to market.

Key Developments and Announcements

Technology and Product Advancements

• The CG-100 device is a temporary intraluminal bypass designed to reduce the need for diverting stomas in patients undergoing colorectal surgery by preventing fecal material contact with the anastomotic site during healing. It is inserted into the colon via a delivery system with inflatable balloons and an extra-luminal ring to secure it; it is removed non-surgically after about ten days when healing is sufficient.
• CG-100 holds CE mark approval for use within the European Union and Israel. It is under Investigational Device Exemption (IDE) status in the United States where clinical trials are ongoing at multiple sites internationally including 14 hospitals across the U.S., Israel, and Europe.
• In August 2024, Colospan announced that their CG-100 received FDA Breakthrough Device Designation intended to expedite review processes due to its potential impact on treatment of life-threatening conditions like colorectal cancer requiring protective stomas.

Clinical Trials

Colospan completed recruitment of patients for pivotal clinical trials evaluating safety, tolerability, and performance of CG-100. These studies support regulatory approvals and aim at demonstrating reduced complications linked with standard protective stoma procedures.

Funding & Financial Backing

• Apart from EIC funding (€8.2 million), Colospan raised $0.5 million from AMIT (The Alfred Mann Institute at Technion), $2 million in a second funding round led by VI Ventures along with other investors including Triventures, CBI Venture Capital Israel Fund II LP (CBI), VLVJ Fund Management Ltd., Anatomy Investments Ltd., Docor International Ltd., Virtus Inspire Fund L.P..
• As of mid 2024 presentations by CEO Boaz Assaf indicate they are raising an additional $30 million round aimed at completing pivotal trials fully, launching commercially in Europe again aiming for FDA approval thereafter.

Partnerships & Collaborations

Clinical collaborations include Asklepios Altona Clinic in Hamburg becoming first hospital in Germany using CG-100 as alternative treatment option during colorectal surgeries since late 2023/early 2024.

Team Updates

Colospan’s leadership team includes founder & CEO Boaz Assaf who has extensive experience from Johnson & Johnson Ethicon Endo Surgery Division prior to founding Colospan. The team comprises seasoned professionals across marketing, sales development plus key scientific advisors globally recognized as leaders in colorectal surgery from Europe and US institutions.

Patents & Intellectual Property

Colospan holds strong intellectual property covering its technology platform with patents registered across major jurisdictions including United States, China, Japan supporting their proprietary intraluminal bypass technology concept which addresses critical unmet needs related to anastomotic leaks after colorectal surgeries – a significant cause of morbidity worldwide.

Summary

Since winning EIC Accelerator funding following their October 2021 submission step:

• Colospan has advanced clinical development via multi-center international randomized trials.
• Received important regulatory milestones such as FDA IDE approval (January 2020) continuing through Breakthrough Device designation awarded August 2024.

-Secured substantial financial investments totaling over €8M plus millions more through rounds involving leading VC funds.

-Launched commercial usage pilots starting notably with Asklepios Altona Clinic.

-Collected strong global expert advisory support positioning them well for future product launches targeting reduction of diverting stoma rates — improving patient outcomes post-colorectal surgery substantially while reducing healthcare costs.

All press releases detailing these updates can be found directly on their official website news section: colospan.com/news-events/, showcasing continuous innovation progression since receiving EIC investment until present day April 21st, 2025.

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Sources

4 The Technology Advancements

Colospan Ltd, an Israeli medical device company specializing in colorectal surgery solutions, has demonstrated significant advancements and market progress since receiving the European Innovation Council (EIC) Accelerator funding on October 6, 2021.

Current Capabilities

Colospan develops a novel intraluminal bypass device called CG-100 designed to address the major clinical and economic challenge of anastomotic leaks in colorectal surgery. The CG-100 is a single-use silicone tubular sheath that temporarily bypasses the colon lumen at the anastomotic site to protect it from leakage during healing. It is introduced via a specialized delivery system and held in place by inflatable balloons and an extra-luminal ring. After approximately ten days, when risk decreases, the device is removed without surgical intervention.

The company holds CE marking for CG-100 for use in Europe as well as ISO 13485:2016 certification. Colospan has also secured patents in key markets including the US, China, and Japan.

Advancements Since EIC Accelerator Funding

Since securing €8.2 million from EIC in late 2021:

• Regulatory Progress: In August 2024, Colospan received FDA Breakthrough Device Designation for its CG-100 Intraluminal Bypass Device. This designation aims to expedite FDA review processes given its potential to significantly improve treatment outcomes for life-threatening conditions like colorectal cancer requiring protective stomas.
• Clinical Trials: Colospan completed verification including animal studies and conducted prospective multi-center trials with around 60 patients evaluating safety and performance of CG-100. The results demonstrated safe technical application meeting performance targets. The company’s IDE-approved pivotal randomized trial continues enrolling patients across about 14 hospitals spanning Israel, Europe, and the USA.
• Funding & Market Launch Plans: As of early-mid 2024 presentations by CEO Boaz Assaf indicated ongoing fundraising efforts (~$30 million round) aimed at completing pivotal trials fully, launching product commercialization within Europe initially, followed by pursuing full FDA approval for US market entry.

Technology Improvements & New Features

While no explicit new features have been publicly detailed beyond those described at funding time (i.e., inflatable balloon fixation system), obtaining FDA Breakthrough Device status implies enhancements or validation supporting significant clinical benefit versus existing standards such as diverting stomas. The pivotal trial enrollment also suggests iterative refinement aligned with regulatory expectations.

Demonstrations & Market Presence

Colospan actively demonstrates technology through:

• Multi-center clinical investigations involving real patient cohorts.
• Participation in industry events such as LSI USA '23 where CEO presented their innovative device highlighting patient success stories illustrating quality-of-life improvements post-surgery without needing stomas.

These activities illustrate growing readiness toward market adoption.

Intellectual Property & Publications

Colospan maintains strong intellectual property protections with patents registered internationally (US/China/Japan). Their publication record includes multiple peer-reviewed studies dating back several years demonstrating feasibility and initial clinical results of their intraluminal bypass technology; however no recent publications post-EIC award are specifically noted online beyond ongoing trial data collection.

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Summary Table: Key Developments Post-EIC Funding (Oct 2021)

Aspect	Details
Technology	CG-100 temporary intraluminal bypass device with balloon fixation
Regulatory Status	CE marked; IDE approved pivotal trials ongoing; FDA Breakthrough Device Designation Aug '24
Clinical Trials	Completed animal + early human studies (~60 pts); Pivotal randomized multicenter trial enrolling (~14 hospitals)
Market Demonstration	Presentations at major medtech summits; active clinical use under investigation
IP Portfolio	Patents registered US/China/Japan
Scientific Publications	Pilot studies published pre-EIC funding; no new scientific papers publicly disclosed recently

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In conclusion, since receiving EIC Accelerator funding on October 6th, 2021, Colospan Ltd has advanced its innovative colorectal surgery technology substantially through regulatory milestones like FDA breakthrough designation and ongoing multinational pivotal trials validating safety/performance of its CG-100 device while preparing for commercial launch phases primarily starting in Europe before expanding globally.

Sources: - colospan.com/about

• colospan.com/2024/08/18/fda-breakthrough-device
• Life Science Intelligence presentation May '23

-colospan.com news Dec '21 announcement -Publications page - colpospan

5 The Partnerships and Customers

Colospan Ltd. Overview and Partnerships

Colospan Ltd., an Israeli medical device company, has been active since 2010 and focuses on developing innovative solutions for colorectal surgery. The company is particularly known for addressing the challenge of anastomotic leaks through its lead product, the CG-100 Intraluminal Bypass device. This device offers an alternative approach to the traditional diverting stoma, which is typically deployed for several months and requires a second surgery for removal. In contrast, the CG-100 is designed to be used for just 10 days and can be removed without the need for further surgery.

Partnerships and Funding

Colospan has secured significant funding from various investors, including Triventures, CBI, VLVJ, Anatomy, Docor, Virtus Inspire, and the Alfred Mann Institute of Technology. In 2017, the company completed a $7.7 million equity financing round led by Triventures and a strategic medical devices company. Additionally, Colospan has received support from the European Union’s EIC Accelerator program.

New Partnerships and Relationships

While there is no recent information on new partnerships specifically, Colospan continues to work with existing investors and partners. The company's participation in the EIC Accelerator program and its existing network of venture capitalists and medical technology firms position it well for future collaborations.

Positioning in the Market

The relationships and funding Colospan has established help it advance in the colorectal surgery market by developing and commercializing its CG-100 device. The company's strong IP portfolio, including patents in the U.S., China, and Japan, further supports its market position. Colospan’s focus on improving clinical outcomes and reducing healthcare costs through its innovative device positions it as a leader in addressing significant challenges in colorectal surgery.

Technology Advancements and Scaling

Colospan’s technology advancements are driven by its clinical trials and regulatory approvals. The company has completed a prospective multi-center trial and has received an Investigational Device Exemption (IDE) from the FDA for its CG-100 device, enabling it to move forward with pivotal trials. These developments are crucial for scaling its operations and expanding its market reach, particularly in Europe and potentially in the U.S. once FDA approval is obtained.

Sources:

• About - Colospan
• Colospan Completes $7.7M Equity Financing Round
• Colospan
• Colospan - Startup Nation Finder
• Colospan Selected to Present its Colorectal Surgical Device
• Boaz Assaf Presents Colospan at LSI USA '23
• Colospan wins IDE FDA approval for intraluminal bypass device
• Updates - Triventures
• Colospan Ltd. - Drug pipelines, Patents, Clinical trials

6 The Hiring and Company Growth

Colospan Ltd., an Israeli medical device company active since 2010, won the EIC Accelerator funding after submitting their Step 2 proposal on October 6, 2021. Since receiving this funding, there is evidence of their ongoing development and team composition, though detailed public information about recent hiring or team growth remains limited.

Current Team Size and Headcount
Colospan's team consists of seasoned professionals combining clinical, technical, regulatory, quality, and marketing expertise alongside leading colorectal surgeons globally. The company’s core staff includes key members such as Boaz Assaf, Tamir Peleg, Eyal Teichman, Liat Mauda, Emilia Ozer, Shelly Sharon, and Orit Tal. Available data from Dealroom estimates Colospan’s employee count between 11-50 people, indicating a small to medium-sized specialized team.

Hiring Status and Growth
No explicit public announcements or listings indicate whether Colospan is currently hiring new employees. However given the company’s position in medical device development—having completed CE marking for their CG-100 Intraluminal Bypass device—and running ongoing clinical studies, strategic hires are likely focused on scaling regulatory affairs support as well as clinical trial management.

Key Positions Recently Hired & Management Changes
There are no publicly disclosed reports of major changes in management or founding team members since the EIC Accelerator award. Notably Gregory D. Casciaro serves on Colospan’s Board of Directors; he brings extensive medtech leadership experience from multiple successful companies but recently took CEO roles elsewhere without indication that he stepped down from his board role at Colospan.

Impact of Team Members on Company Growth & Future Outlook
The presence of a multidisciplinary team combining expert clinicians with technical staff supports Colospan’s mission to address significant challenges in colorectal surgery through innovative medical devices that reduce the risk associated with anastomotic leaks. Their strong IP portfolio across major markets (US/China/Japan) and successful CE marking coupled with multi-center clinical trials indicate a solid foundation for scaling commercialization efforts within Europe and potentially beyond.

Expansion in quality assurance/regulatory affairs teams would facilitate further market approvals while additional sales/marketing hires could accelerate product adoption post-EU commercialization stages. The scientific advisory board including KOL physicians ensures continued innovation aligned with surgeon needs worldwide.

In summary:

Aspect	Details
Current estimated headcount	Between 11-50 employees
Known key personnel	Boaz Assaf (CEO?), Tamir Peleg et al.; Board member Gregory D. Casciaro
Hiring status	No public data confirming current hiring
Recent growth	Focused on product development milestones rather than large-scale hiring announced publicly
Management changes	No major changes reported
Future impact	Existing expert multidisciplinary team underpins product validation; potential future hires likely to scale regulatory/commercial efforts

This analysis suggests that following the EIC Accelerator funding awarded after October 2021 submission date for CG-100 project #190124297, Colospan has maintained a stable specialized workforce focused primarily on advancing its flagship intraluminal bypass device toward larger commercial rollout phases while leveraging strong scientific advisory support to continue innovation.

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Sources:

• About - Colospan
• Home - Colospan
• Colospan Company Info - Dealroom
• Foldax Appoints Gregory D Casciaro CEO

7 The Media Features and Publications

Colospan Ltd., an Israeli medical device company specializing in colorectal surgery solutions, has been featured and active in various media, publications, conferences, and events since winning the EIC Accelerator funding in October 2021.

Media Features and Publications

Colospan’s innovative intraluminal bypass device for colorectal surgery has been the subject of several scientific publications detailing its clinical trials and feasibility studies. Key publications include:

• A 2015 study on the feasibility of an intraluminal bypass device in a porcine model.
• A 2017 prospective clinical trial involving 20 patients replacing diverting stomas with their device.
• A 2019 pilot study on protecting colorectal anastomosis using this technology.

Additionally, Colospan is mentioned as a research funder supporting studies such as the international GOSAFE study that evaluates functional recovery and quality of life after colorectal cancer surgery. This highlights Colospan’s involvement beyond direct product development into broader clinical research collaborations.

Podcasts and Interviews

Boaz Assaf, founder of Colospan Ltd., presented at Life Science Intelligence USA ’23 event where he discussed the company’s progress towards pivotal trials, regulatory approvals (including FDA), market launch plans, and patient benefits from their CG-100 device. His presentation is accessible as a video interview/podcast format emphasizing both technological innovation and personal patient stories.

Conference Presentations and Participation

Colospan has actively participated in notable medical technology summits:

In November 2016, Colospan was selected to present its colorectal surgical device at the Emerging Medical Technologies Summit held in Silicon Valley. This event featured CEOs from early-stage medical companies showcasing innovations to investors and partners within a prestigious ecosystem sponsored by major industry players like Johnson & Johnson.

The participation demonstrates early recognition by influential stakeholders within medtech investment circles.

Company Involvement in Events

More recently,

• In May 2024, Colospan announced extended IDE (Investigational Device Exemption) approval for its CG-100 intraluminal bypass product line providing surgeons with additional size options to implement this alternative to diverting stoma during colorectal surgeries.
• The Asklepios Altona Clinic in Hamburg became the first hospital in Germany to use Colospan's CG-100 device for patients undergoing colorectal surgery—a significant milestone covered by company news updates reflecting real-world adoption of their innovation.

While specific podcasts or interviews featuring other team members were not found publicly available besides Boaz Assaf's presentation, nor detailed records of additional conference participations post-EIC award beyond those noted above were surfaced directly from current search results.

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Summary Table

Category	Details
Media Features	Clinical trial results published; mentions as research funder
Publications	Studies published between 2015–2019 on intraluminal bypass devices
Podcasts/Interviews	Boaz Assaf presents at LSI USA ’23 event (video/podcast format)
Conferences/Fairs	Presenter at EMT Summit Silicon Valley (Nov ‘16); ongoing presence via news updates
Event Involvement	IDE extension approval announcement May ‘24; first German hospital adoption reported

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This data shows that since receiving EIC Accelerator funding after submitting Step 2 proposal on October 6th, 2021, Colospan Ltd. has strengthened its visibility through scientific publications validating their technology, engaged audiences via presentations such as Life Science Intelligence USA ’23, and advanced regulatory milestones enabling wider clinical adoption across Europe.

Sources used:

• Publications - Colospan
• News & Events - Colospan
• Predicting Functional Recovery...GOSAFE Study
• Boaz Assaf Presents Colospan at LSI USA '23
• Colospod Selected Presentation EMT Summit '16
• Triventures Updates about Funding & Approvals