1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council, is designed to support small and medium-sized enterprises (SMEs) and startups in the development and commercialization of innovative technologies. Aimed primarily at high-risk, high-potential projects, the EIC Accelerator provides funding in two forms: grants and equity investments.

Funding Structure

The grant component offers funding of up to €2.5 million, which can be used for various stages of project development, including research, prototyping, and market entry. This non-repayable funding is particularly beneficial for early-stage companies that require capital to validate their technologies without the burden of debt.

In addition to grants, the EIC Accelerator also provides equity investments. Initially, companies could receive up to €15 million in equity until 2024. However, starting in 2025, this amount will be capped at €10 million. The equity investment aims to encourage private sector participation by providing a safety net for investors, thereby enabling companies to scale more rapidly and attract additional funding.

Purpose within the DeepTech and Startup Ecosystem

The EIC Accelerator plays a crucial role in the European DeepTech and startup ecosystem by addressing the funding gap that often exists for innovative projects. Many promising technologies struggle to secure investment during their early stages, primarily due to the perceived risks involved. By offering substantial grants and equity, the EIC Accelerator not only mitigates these risks but also acts as a catalyst for private investments. This, in turn, fosters an environment conducive to innovation, job creation, and economic growth within Europe.

Supporting Scale and Private Sector Funding

The EIC Accelerator offers more than just financial support; it also provides access to a network of experts, mentors, and potential partners. This ecosystem facilitates knowledge transfer and helps companies refine their business models and strategies, increasing their chances of success. By bolstering the connections between innovative startups and the private sector, the EIC Accelerator enhances the capacity of these companies to scale effectively and secure further investment, thus creating a robust pipeline of innovation in Europe.

Case Study: Thericon GmbH and the rMSI Project

Thericon GmbH, a German company, emerged as a winner of the EIC Accelerator with its project, rMSI (Real-time Multi-Spectral Imaging). The company submitted its Step 2 proposal on March 23, 2022, and successfully advanced to the Step 3 interview, culminating in funding approval.

Project Description: rMSI

The rMSI project focuses on developing real-time multi-spectral imaging technology aimed at improving the accuracy of cancerous tissue detection during endoscopic surgeries. This innovative approach leverages advanced imaging techniques to analyze tissue properties in a multi-spectral format, allowing for the differentiation between healthy and malignant tissues in real-time.

Technology Background

Multi-spectral imaging is a technique that captures image data at specific wavelengths across the electromagnetic spectrum. By analyzing these wavelengths, it becomes possible to identify unique spectral signatures associated with various types of tissues. In the context of endoscopic surgery, where precision is paramount, rMSI aims to provide surgeons with enhanced visual information that aids in making more informed decisions during procedures.

The technology involves sophisticated algorithms that process the multi-spectral data and translate it into actionable insights. By integrating this imaging solution into endoscopy equipment, Thericon hopes to not only improve surgical outcomes but also reduce the need for additional surgeries, ultimately leading to better patient care and lower healthcare costs.

Conclusion

The EIC Accelerator program serves as a crucial enabler for innovative companies like Thericon GmbH, providing the necessary funding and resources to bring groundbreaking technologies to market. The rMSI project exemplifies the program’s mission to advance healthcare solutions through cutting-edge technology, improving patient outcomes in the fight against cancer. With the support from the EIC Accelerator, Thericon is well-positioned to make significant contributions to the medical field, fostering advancements that can benefit patients and healthcare providers alike.

2 The Funding Rounds

# Thericon GmbH: EIC Accelerator Funding and Company Profile

Thericon GmbH is a German medical imaging company that spun off from Heidelberg University in 2019. The company focuses on developing multiparametric imaging technology designed to enhance minimally invasive surgery by providing surgeons with real-time images that reveal otherwise invisible anatomical, functional, and pathological features.

Funding History

Thericon GmbH received the European Innovation Council (EIC) Accelerator grant in March 2022, amounting to €2.5 million. This funding was crucial for the company's development after its spin-off from Heidelberg University.

Prior to receiving the EIC Accelerator grant, Thericon had already secured over €3 million in grant money during its development phase at Heidelberg University. The company's total known funding to date amounts to approximately $2.69 million (€2.5 million).

Company Background and Technology

Thericon's core technology is a real-time multispectral imaging (rMSI) platform that provides surgeons with multi-parametric images to help with the effective removal of cancerous tissue and reduction of cancer recurrence in patients. This technology represents a significant advancement in surgical imaging capabilities.

The company's first-in-human pilot study demonstrated improved sensitivity in bladder cancer resection and was recognized by the European Urology Association as the most innovative urological imaging study of 2019.

Market Focus

Thericon's technology addresses a significant healthcare challenge in the European Union, where cancer is a leading cause of death with 2.7 million diagnoses and 1.3 million deaths reported in 2020. The company's imaging technology aims to overcome the limitations of current endoscopic surgery, where differentiating between different types of tissue is challenging due to limited visual and absent tactile information.

Company Development Timeline

• Pre-2019: Development phase at Heidelberg University, securing over €3 million in grant funding
• 2019: Spin-off from Heidelberg University, Germany
• 2022 (March): Received €2.5 million EIC Accelerator grant
• As of 2022: The company was planning to raise its first investment round to finance the development and certification of its first two devices by the end of 2023

Partnerships and Ecosystem

Thericon GmbH is a member of the EIC Ecosystem Partnerships and Co-Investment Support Programme community, which likely provides additional support and networking opportunities beyond the financial grant received.

Future Outlook

Based on the company's development trajectory and funding, Thericon appears to be in the early stages of commercialization. The EIC Accelerator funding received in March 2022 will support the company's efforts to bring its innovative imaging technology to market, potentially transforming minimally invasive surgical procedures, particularly for cancer treatment.

No information about company valuations, exit events like IPOs or acquisitions, or additional funding rounds beyond the EIC Accelerator grant was available in the search results.

• Thericon company information, funding & investors - Dealroom
• Thericon GmbH | EuroQuity
• Thericon - Alien Technology Transfer
• Thericon GmbH Company Profile: Funding, Investors & Partnerships

3 The Press Releases

Thericon GmbH: A Pioneer in Medical Imaging Technology

Thericon GmbH, based in Mannheim, Germany, has been at the forefront of medical imaging technology since its spin-off from Heidelberg University in 2019. The company specializes in developing multispectral imaging technology that enhances the effectiveness and safety of minimally invasive surgeries by providing surgeons with real-time multiparametric images. These images reveal otherwise invisible anatomical, functional, and pathological features, aiding in better cancer recognition and treatment decisions.

Technology Advancements

Thericon's multispectral imaging technology is designed to overlay views from multiple light channels in real time. This approach allows for the detection of subtle contrasts that are not visible with conventional imaging methods, thereby improving the accuracy of surgical interventions. The technology has potential applications across various surgical specialties, including robotic surgery.

Partnerships and Funding

Thericon has received significant funding, with over €6 million invested in its technology. The company is part of the EIC Ecosystem Partnerships and Co-Investment Support Programme, reflecting its commitment to innovation and collaboration in the medical imaging sector. In 2022, Thericon was recognized as an EIC Accelerator winner, further solidifying its position in the industry.

Press Releases and Updates

While specific press releases on Thericon's website or social media accounts are not detailed, the company's advancements in medical imaging have been noted in various industry publications. Their innovative approach to minimally invasive surgery has garnered attention, with a notable first-in-human pilot study recognized by the European Urology Association.

Team Updates

Details on specific team updates are not readily available, but Thericon has a dedicated team working towards further developing its multiparametric imaging technology. The company's leadership is focused on bringing this technology to market, with plans for device certification and expansion into various surgical specialties.

Patents

No specific information on patents has been disclosed, but Thericon's unique technology suggests a strong focus on intellectual property protection.

Conclusion

Thericon GmbH continues to push the boundaries of medical imaging, leveraging multispectral technology to improve surgical outcomes. With ongoing development and recognition within the industry, the company is poised for significant growth and impact in the medical technology sector.

Sources

• New multispectral imaging technology improves endoscopic tumour detection capabilities
• Thericon GmbH
• Thericon GmbH - Team members, CEO, Employees

4 The Technology Advancements

Thericon GmbH's Post-EIC Accelerator Progress Thericon GmbH, a German medtech company spun off from Heidelberg University in 2019, continues advancing its real-time multispectral imaging (rMSI) platform for cancer detection during minimally invasive surgeries. Since securing EIC Accelerator funding in March 2022, the company has focused on refining its technology and preparing for clinical adoption, though specific updates post-2022 remain limited in publicly available records.

Core Capabilities

The company’s rMSI system combines a multispectral light source, dual-sensor cameras, and proprietary software to generate 4K-resolution multiparametric images during endoscopies. Its real-time visualization of anatomical structures and fluorescent contrast agents aims to improve tumor margin identification—a critical factor in reducing cancer recurrence. The platform is designed as a modular solution compatible with existing endoscopic setups and robotic surgical systems.

Post-Funding Advancements

While explicit details about new features or upgrades post-2022 are unavailable, Thericon’s pre-funding development trajectory indicates ongoing optimization of its imaging algorithms and hardware integration. Key prior milestones include:

• Pilot study validation: Demonstrated improved sensitivity for bladder cancer resection in a first-in-human trial recognized by the European Urology Association (2019).
• Cost efficiency: Designed to reduce hospital CAPEX/OPEX by consolidating multiple imaging modalities into one system.

Market Readiness & Clinical Validation

Publicly disclosed customer deployments or new trials post-EIC funding are not yet evident. However, the company aimed to achieve certification for two devices by late 2023 using earlier grant financing, suggesting progress toward regulatory approval. The EIC accelerator likely supports scaling manufacturing and clinical testing pipelines.

Intellectual Property & Publications

No new patents or peer-reviewed studies directly linked to Thericon appear in available sources after March 2022. Earlier innovations centered on optical filter designs, sensor arrangements, and image-processing pipelines protected under undisclosed patents. Collaborations with academic institutions like Heidelberg may yield future publications but remain unannounced currently.

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Sources

• Thericon GmbH | EuroQuity
• Real-time multi-spectral imaging project (CORDIS)
• Alien Technology Transfer Client Profile
• EIC Accelerator Winner List (PDF)

5 The Partnerships and Customers

Thericon GmbH Overview

Thericon GmbH, a German company, has been recognized for its innovative contributions to medical imaging, particularly in the field of minimally invasive surgery. The company specializes in developing real-time multiparametric imaging systems that provide surgeons with enhanced visual information during operations. This technology is designed to improve the detection and treatment of cancerous tissues, reducing recurrence rates.

Partnerships and Collaborations

As of the latest available information, Thericon GmbH is part of the EIC Ecosystem Partnerships and Co-Investment Support Programme community, which indicates its involvement in a network that supports research and innovation across Europe. However, specific details about new partnerships or customers were not identified in recent updates.

Technology and Advancements

Thericon's technology platform is centered around real-time multispectral imaging (rMSI), which offers a significant advancement in cancer treatment by providing surgeons with more detailed visual information during endoscopic surgeries. This technology has the potential to enhance surgical precision and outcomes, particularly in the removal of cancerous tissues.

Market Positioning and Growth

The association with the EIC community and its focus on innovative medical imaging place Thericon GmbH in a strategic position within the healthcare market. The company's participation in such programs can facilitate access to funding and collaborative opportunities, which are crucial for scaling its technology and expanding its market reach.

Future Prospects

As Thericon continues to develop its imaging systems, the establishment of new partnerships or collaborations could accelerate its growth by providing access to additional resources, expertise, and markets. Such relationships would be pivotal in furthering its technology advancements and scaling its operations to meet the demands of an expanding customer base.

Sources

• Thericon GmbH | EuroQuity
• Thericon - Alien Technology Transfer

6 The Hiring and Company Growth

Thericon GmbH: Growth and Development After EIC Accelerator Funding

Thericon GmbH, a German company specializing in advanced imaging technologies for minimally invasive surgery, won the EIC Accelerator funding in March 2022. Since then, the company has been focused on developing its innovative multispectral imaging technology, which overlays views from multiple light channels in real-time, enhancing the effectiveness and safety of surgical procedures.

Current Headcount and Team Size

As of the latest available information, specific details about the current headcount or team size of Thericon GmbH are not publicly disclosed. However, the company's growth trajectory suggests an expanding team to support its technological advancements and market entry.

Hiring and Team Growth

Thericon GmbH is likely increasing its team to support the development and certification of its devices. Although there is no explicit mention of current hiring activities, the company's involvement in the EIC Ecosystem Partnerships and Co-Investment Support Programme indicates potential for growth and expansion.

Recent Key Positions and Growth

There is no specific information available about recent key positions hired by Thericon. However, the company's focus on developing multiparametric imaging technology suggests that engineering, research, and regulatory compliance roles might be crucial for its growth.

Impact of New Team Members

New team members will play a vital role in scaling and growing Thericon by advancing its imaging technology, supporting regulatory processes, and driving market adoption. This growth will be essential for the company to achieve its goal of making minimally invasive surgery safer and more effective.

Management and Founding Team Changes

There is no publicly available information on major changes in Thericon's management or founding team since receiving the EIC Accelerator funding.

Growth and Future Prospects

Thericon's technology has the potential to revolutionize various surgical specialties by providing unprecedented visual and diagnostic insights. With the support from the EIC Accelerator, the company is well-positioned to accelerate its product development and market entry, potentially leading to significant growth in the coming years.

Sources

• Thericon GmbH
• Search - Bioeconomy
• Home - Healthcare industry

7 The Media Features and Publications

Thericon GmbH: Insights and Developments Since EIC Accelerator Funding

Overview

Thericon GmbH, a German company, received EIC Accelerator funding in March 2022. It specializes in developing innovative medical imaging technologies to enhance surgical outcomes.

Media Features

Thericon has been featured for its pioneering work in multispectral imaging technology, which is designed to improve tumor detection during endoscopic procedures. This technology overlays views from multiple light channels in real-time, enhancing the visibility of anatomical and pathological features during surgeries.

Publications and Content

The company has been recognized for its contributions to medical imaging, particularly in urology, where its first-in-human pilot study for bladder cancer resection was recognized as the most innovative urological imaging study by the European Urology Association in 2019.

Podcasts and Interviews

There is no readily available information indicating that Thericon GmbH has participated in podcasts or interviews with its team members.

Conference and Fair Visits

Thericon's involvement in conferences and fairs is not widely documented, but as a spin-off from Heidelberg University, it is likely engaged with academic and industry events related to medical technology and innovation.

Involvement in Events

Thericon has been part of the EIC Ecosystem Partnerships and Co-Investment Support Programme, which suggests its participation in relevant networking events within the European innovation community.

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Sources

• Thericon GmbH | EuroQuity
• New multispectral imaging technology improves endoscopic tumour detection capabilities
• Home - Healthcare industry - Gesundheitsindustrie BW