1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program is a pivotal financing initiative under the European Innovation Council (EIC), designed to support small and medium-sized enterprises (SMEs) and startups with high-risk, high-potential innovations. This program aims to accelerate the development of groundbreaking technologies and services in Europe, particularly in the DeepTech sector, which encompasses advanced technologies such as biotechnology, artificial intelligence, and other innovative fields. The EIC Accelerator provides a unique blend of grant funding and equity investment, thus enabling companies to scale their operations and achieve market success.

Funding Structure

The EIC Accelerator offers a combination of grant and equity funding, also known as blended finance.

1. Grant Funding: Companies can receive grants of up to €2.5 million. This funding is intended to cover costs associated with the research and development phases, specifically for activities that lead to the commercialization of innovative solutions.

2. Equity Investment: The program also provides equity funding, which has undergone recent adjustments. Initially, companies could secure up to €15 million in equity until 2024. However, starting from 2025, this cap will be reduced to €10 million. This equity investment is aimed at supporting scaling activities, facilitating market entry, and ensuring that companies have sufficient resources to grow.

This dual funding mechanism is strategically designed to minimize financial risks for innovative businesses while encouraging private sector investment. The EIC Accelerator aims to attract further funding from private investors by validating the potential of the supported projects, thereby creating a robust ecosystem for startups.

Purpose and Role in the Ecosystem

The EIC Accelerator plays a critical role in the European startup ecosystem by fostering innovation and scaling DeepTech companies. Its primary purpose is to bridge the gap between early-stage funding and market-ready innovations. By providing substantial financial backing, the program aims to propel groundbreaking technologies into commercial viability.

Moreover, the EIC Accelerator serves as a validation tool for startups, enhancing their attractiveness to private investors. The funding and support provided by the EIC not only enable companies to advance their projects but also signal to the market that these ventures are worth investing in. This support is essential for overcoming the challenges associated with bringing innovative solutions to market, particularly in sectors where technological advancement is rapid and competition is fierce.

Case Study: Syntach AB and the Heart Function Support Project

Company Overview

Syntach AB, based in Sweden, is a notable winner of the EIC Accelerator program. The company specializes in developing innovative medical devices that address critical health challenges. Their project, known as Heart Function Support (HFS), focuses on creating a minimally invasive device to aid heart movement in patients suffering from heart failure.

Project Description

The Heart Function Support project aims to develop an innovative device designed specifically to support the natural movement of the heart in patients experiencing heart failure. Heart failure is a significant health issue affecting millions globally, characterized by the heart's inability to pump blood effectively, leading to various complications.

The minimally invasive nature of the device is particularly advantageous. It is designed to be implanted with minimal disruption to the patient's body, thereby reducing recovery time and associated risks. This approach is significant as traditional interventions often involve major surgical procedures that can lead to complications and longer recovery periods.

Technology Basics and Background

The underlying technology of the Heart Function Support device combines advanced engineering and medical expertise. The device is designed to mimic the natural motion of the heart, thereby alleviating some of the burdens placed on it by heart failure.

The technology leverages innovative materials and mechanisms that respond dynamically to the heart's movements. It is engineered to integrate seamlessly with the patient's physiological systems, providing real-time support tailored to the individual's needs. This is achieved through sophisticated sensors and feedback systems that monitor heart performance and adjust the device's support accordingly.

The background of this technology is rooted in extensive research on heart mechanics and failure mechanisms. By understanding the pathophysiology of heart conditions, Syntach AB has developed a solution that not only addresses the symptoms but also enhances the quality of life for patients.

Conclusion

The EIC Accelerator program serves as a vital catalyst for innovation within the European startup ecosystem, particularly in the DeepTech sector. By providing a combination of grant and equity funding, the program supports companies like Syntach AB, enabling them to transform groundbreaking ideas into commercial realities. The Heart Function Support project exemplifies the potential of innovative medical devices to change the landscape of treatment for heart failure, highlighting the critical importance of such funding programs in advancing healthcare technologies.

2 The Funding Rounds

Syntach AB: A Swedish Medtech Innovator

Syntach AB, based in Lund, Sweden, is a pioneering medtech company that has been making significant strides in the development of innovative cardiac support systems. In October 2021, the company submitted its proposal to the European Innovation Council (EIC) Accelerator program and later advanced to win funding in the Step 3 interview.

Financing Raised and Funding Rounds

Syntach AB has secured significant funding through the EIC Accelerator. The company was awarded a grant of €2.5 million in December 2021 as part of a blended finance package of up to €17.5 million. In January 2023, Syntach announced that it had been awarded up to €15 million in equity financing by the EIC for the development of its Syntach Cardiac Support System.

Timing and Amount of Funding Rounds

€2.5 Million Grant (December 2021): This grant was the initial portion of the blended finance arrangement provided by the EIC to support Syntach's minimally invasive cardiac support system development.
Up to €15 Million Equity Financing (January 2023): This equity financing was awarded to further accelerate the development of the Syntach Cardiac Support System, bringing the total blended finance to up to €17.5 million.

Investor Information

The primary investor in Syntach AB's funding rounds is the European Innovation Council (EIC), which provides both grants and equity through the EIC Accelerator program. The EIC's funding is designed to support pioneering innovations in Europe, helping them scale globally.

Information Related to Funding Rounds

Syntach's funding is part of the EIC's strategy to back high-potential startups, ensuring long-term scalability and global impact. The company's innovative cardiac support system aims to revolutionize the treatment of heart failure by providing a minimally invasive solution that supports the natural movement of the heart.

Company Valuations and Funding Events

While specific company valuations are not publicly disclosed, the EIC funding reflects a strong belief in Syntach's potential to disrupt the medical device industry with its groundbreaking cardiac support technology. The funding events highlight Syntach's ability to secure substantial investment, positioning it for significant growth and innovation in the medtech sector.

Sources

3 The Press Releases

Syntach AB, a Swedish company based in Lund, has made significant progress and announcements since winning the EIC Accelerator funding after submitting their Step 2 proposal on October 6, 2021. Their innovations center around a minimally invasive cardiac support system designed to improve heart function without requiring open-heart surgery.

Key Press Releases and Updates

Partnership with Meditrial CRO (February 2023)

Syntach announced a strategic partnership with Meditrial Europe Ltd, a clinical research organization specializing in accelerating clinical trials and regulatory approval processes for breakthrough therapies. This collaboration aims to advance the clinical development and regulatory strategies of Syntach’s minimally invasive cardiac support system targeted at treating heart failure patients.

The Syntach Cardiac Support system is distinct because it supports natural atrioventricular plane movement in the heart rather than replacing heart function.
It operates via an implanted battery avoiding external driveline complications common in existing devices.
The partnership intends to facilitate product introduction both in Europe and the U.S.

Recognition at CRT 2023 Conference (February 2023)

The company’s Cardiac Support System was selected for oral presentation during the Best Innovation Competition at Cardiovascular Research Technologies (CRT) annual meeting held in Washington DC. This recognition highlights Syntach’s innovation as one of the top emerging technologies addressing cardiovascular diseases globally.

Dr. Monica Tocchi from Meditrial presented on how this device could restore cardiac function by acting on mitral valve plane displacement—a key factor accounting for about 60% of left ventricular stroke volume.
Preclinical trials demonstrated promising results in animal models showing improved cardiac output by restoring natural mitral valve motion.

Technology Advancements

Syntach focuses on enhancing natural heart mechanics rather than substituting them:

The device supports atrioventricular plane displacement, which correlates strongly with improved survival rates and reduced adverse events among heart failure patients.
Unlike other assist systems that require open-heart procedures, Syntach's technology is minimally invasive with an internal power source that reduces infection risk associated with external driveline systems.

Collaborations & Academic Partnerships

Syntach collaborates closely with academic researchers from Lund University’s Department for Clinical Sciences and Clinical Physiology. This cooperation helps integrate cutting-edge cardiac physiology research into their product development cycle.

Team Updates

Patrick NJ Schnegelsberg serves as CEO of Syntach AB; he has been actively involved in communicating company progress through press releases tied to partnerships and clinical developments. Dr. Monica Tocchi leads Meditrial CRO as CEO and plays an instrumental role through her partnership commitment towards advancing clinical strategies related to Syntach's technology.

Patents or Intellectual Property

While specific patent details are not publicly disclosed within these press releases or blog posts found online, given their innovative approach involving implantable devices supporting natural mitral valve motion without traditional driveline complications suggests proprietary technology likely protected under intellectual property frameworks.

In summary, since receiving EIC Accelerator funding post October 2021 submission cutoff date:

Partnerships: Established critical collaboration with Meditrial CRO (Feb 2023) aimed at accelerating clinical trial design/regulatory pathways.
Technology: Developed an innovative minimally invasive implantable cardiac assist device enhancing natural heart mechanics powered by internal batteries.
Recognition: Selected for prestigious cardiovascular innovation competitions such as CRT Best Innovation Competition.
Academic Ties: Ongoing cooperation with Lund University researchers advancing foundational science behind their solutions.

These developments position Syntach AB strongly within advanced medical device innovation focused on improving outcomes for millions suffering from heart failure worldwide.

Sources:

4 The Technology Advancements

Syntach AB: Current Capabilities and Advancements

Syntach AB, a Swedish medtech startup based in Lund, has been making significant strides in the development of innovative cardiac support systems and mitral valve intervention technologies. Since receiving funding from the European Innovation Council (EIC) Accelerator in 2021, Syntach has continued to advance its groundbreaking technology.

Current Capabilities

Minimally Invasive Cardiac Support System: Syntach's flagship product, the Syntach Cardiac Support (CS) system, is designed to support the heart's natural movement by enhancing the mitral valve plane's function. This minimally invasive device can be implanted without open-heart surgery, reducing risks associated with traditional cardiac assist devices.
Collaborations and Partnerships: Syntach collaborates with academic research centers, including the Cardiac MR Group at Lund University, and has recently partnered with Meditrial Europe Ltd to enhance its clinical and regulatory strategies.

Advancements Since EIC Funding

Financial Support: In addition to the initial €2.5 million grant in 2021, Syntach received up to €15 million in equity financing from the EIC in 2023, bringing the total blended funding to €17.5 million. This substantial financial backing has been instrumental in accelerating the development of its cardiac support system.
Leadership and Management: Patrick N.J. Schnegelsberg was appointed as the new CEO in early 2023, marking a strategic move to drive the company's growth and innovation.
Innovation Recognition: The Syntach CS system was selected for the Best Innovation Competition at CRT 2023, highlighting its potential as a breakthrough medical innovation.

Technology Improvements and Presentations

Enhanced Features: The Syntach CS system is fully implantable, with capabilities for wireless monitoring and recharging. It includes a smart wrist device and hospital monitors to control and track its functions, enhancing patient monitoring and quality of life.
Clinical Trials and Demonstrations: While specific clinical trial results are not yet publicly available, the system has shown excellent preclinical results in animal models. Clinical trials are planned to validate its effectiveness in improving cardiac function.

New Patents, Studies, and Trials

As of the latest updates, there is no public information on new patents filed or new scientific studies published by Syntach since the EIC funding. However, the company's focus on advancing its cardiac support technology suggests ongoing research and development efforts.

Market Demonstration and Customer Engagement

Syntach's technology has not yet been demonstrated in the market with customers or through large-scale pilots, as it remains in the development phase. However, its participation in major conferences like CRT 2023 indicates growing visibility and recognition within the medical community.

Citations and References: - Syntach - Making Heartbeats Matter

5 The Partnerships and Customers

Syntach AB: Partnerships and Recent Developments

Syntach AB, a Swedish medtech startup located in Lund, has been making significant strides in the development of innovative cardiac support systems. Since receiving funding from the European Innovation Council (EIC), Syntach has engaged in several key partnerships and advancements.

Partnerships

One of the most notable partnerships announced by Syntach is with Meditrial Europe Ltd, a leading clinical research organization (CRO). This partnership aims to support the clinical and regulatory strategies for Syntach's groundbreaking Cardiac Support System. Meditrial is known for conducting clinical trials for breakthrough therapies, helping Syntach accelerate the development of its minimally invasive cardiac assist device.

New Partners

As of the latest information, there are no additional new partners announced beyond the Meditrial partnership. However, the collaboration with Meditrial is crucial for Syntach's clinical development process.

Customers

Currently, there is no specific information available on new customers for Syntach AB. The focus is on developing and bringing the Cardiac Support System to the market, which could potentially benefit over 64 million people worldwide suffering from heart failure.

Nature of New Relationships

The partnership with Meditrial is designed to enhance Syntach's clinical development capabilities, particularly in navigating regulatory pathways in both the U.S. and Europe. This relationship is pivotal for positioning Syntach AB in the market as a leader in cardiac support technology.

Impact on Market Positioning and Technology Advancements

Syntach's partnerships, particularly with Meditrial, will significantly enhance its market positioning by facilitating the clinical and regulatory processes necessary for the approval of its innovative cardiac support system. This collaboration will also contribute to technology advancements by leveraging Meditrial's expertise in clinical trials to refine and improve Syntach's device, ultimately leading to a faster and more efficient path to market.

Scaling and Future Prospects

The funding from the EIC, combined with partnerships like the one with Meditrial, positions Syntach to scale its operations effectively. The company aims to utilize these resources to expand its reach globally, offering its innovative cardiac support solutions to a broader audience. Syntach AB's focus on minimally invasive heart failure treatments aligns with growing needs in the healthcare sector, potentially leading to significant market impact in the future.

Sources:

6 The Hiring and Company Growth

Since receiving the EIC Accelerator funding in October 2021, Syntach AB, a Swedish medtech startup focused on innovative cardiac support devices, has undergone significant growth and key strategic team expansions to scale its operations and development efforts.

Hiring and Team Growth

Syntach AB has been described as a rapidly expanding company actively looking for experienced, skilled, and motivated personnel to join their team. This indicates ongoing hiring activities.
A major recent hire is Patrick N.J. Schnegelsberg appointed as CEO in January 2023. Patrick brings over two decades of industry experience with prior executive roles including COO at Occlutech Group, indicating a strengthening of leadership aimed at accelerating product development and market entry.
Additionally, the appointment of Cansel Isikli as Vice President of Regulatory Affairs & Quality (RA/Q) was announced concurrently. She brings 15 years’ experience managing R&D and regulatory affairs for Class III medical devices at Occlutech Group and other ventures. Her role is strategic in guiding clinical development pathways and regulatory approvals critical for scaling Syntach’s minimally invasive cardiac support system.

Current Headcount or Team Size

Specific current headcount numbers are not publicly disclosed in available sources.
However, given the description of rapid expansion since winning significant EIC blended funding (€17.5 million total by early 2023), plus recent senior hires focusing on scaling operations (CEO plus VP RA/Q), it can be inferred that team size has grown considerably from its founding phase to a mid-sized startup structure supporting clinical product development.

Growth Magnitude

The company secured up to €15 million equity financing from the European Innovation Council following an earlier €2.5 million grant awarded in late 2021 under the EIC Accelerator program—totaling up to €17.5 million blended funding by early 2023.
This substantial capital injection supports accelerated R&D activities for their breakthrough implantable cardiac support device aimed at heart failure patients.
The leadership additions signal maturation towards commercial readiness while expanding technical depth.

Key Positions Recently Hired

Position	Name	Background Highlights	Role Impact
Chief Executive Officer (CEO)	Patrick N.J. Schnegelsberg	Former COO at Occlutech Group; extensive medtech exec	Lead company growth strategy & operational scaling
Vice President Regulatory Affairs / Quality (VP RA/Q)	Cansel Isikli	Managed multiple Class III device registrations; R&D leader	Ensure regulatory compliance & guide clinical pathway

These hires bring deep industry expertise essential for navigating complex medical device regulations globally while driving innovation commercialization.

Implications for Future Growth

The recruitment of high-caliber leaders like Schnegelsberg and Isikli strongly positions Syntach AB to:

Accelerate product development timelines through seasoned management
Streamline regulatory approval processes critical for market access
Scale manufacturing capabilities aligned with commercial launch plans
Enhance investor confidence facilitating further funding rounds
Expand global partnerships leveraging executive networks

Chairman Tor Peters emphasized assembling “a fantastic team” alongside strong external support from cardiology communities and EIC backing as foundational pillars underpinning optimism about future success.

Management or Founding Team Changes

The most notable change is appointing Patrick N.J. Schnegelsberg as new CEO in January 2023 replacing previous leadership—marking an important step toward professionalizing management with experienced executives capable of leading scale-up phases beyond early startup stages. No additional major changes regarding founders have been reported.

In summary, since winning the EIC Accelerator award in October 2021:

Syntach AB has significantly grown by securing large-scale financing (€17.5M total)
Made key senior hires including new CEO Patrick Schnegelsberg and VP RA/Q Cansel Isikli
Actively recruiting skilled personnel indicating ongoing team expansion
Leadership changes reflect strategic evolution toward commercialization readiness

These developments equip Syntach with strengthened operational capability needed to advance its novel cardiac implant technology through clinical validation into global markets.

Sources: Syntach Official Website
Syntach Announces €17.5M Funding + New CEO & VP RAQ
Syntach Press Release via PR Newswire

7 The Media Features and Publications

Syntach AB, a Swedish medtech startup awarded the EIC Accelerator funding on October 6, 2021, has since gained significant media attention and participation in prominent events related to its innovative cardiac support technology.

Media Features and Publications

Syntach AB has been prominently featured in various press releases and news articles highlighting its breakthrough Syntach Cardiac Support System designed for heart failure patients. For instance, Biospace reported on January 30, 2023, about the company receiving up to €17.5 million in blended funding from the European Innovation Council (EIC), naming Patrick N.J. Schnegelsberg as CEO and Cansel Isikli as VP of Regulatory Affairs.
The company’s partnership with Meditrial Europe Ltd was announced in February 2023 through CNW Newswire coverage. This collaboration supports clinical and regulatory strategies aiming to bring their minimally invasive cardiac support system to markets in Europe and the US.
BioWorld MedTech also covered Syntach's receipt of up to $18.7 million (~€17 million) EIC equity financing for developing its cardiac device.
Press releases distributed via PR Newswire and Newswire.ca have detailed various company milestones including funding rounds, partnerships, clinical development efforts, leadership appointments, and oral presentations at conferences.

Content from Publications

The media content consistently emphasizes:

Syntach’s novel approach: The device supports natural heart movement by enhancing atrioventricular plane motion without requiring open-heart surgery or external driveline components.
The impact: With over 64 million affected globally by heart failure—a leading cause of death—the technology targets a critical unmet medical need with less invasive procedures that improve patient quality of life.
Clinical partnership: Collaboration with academic institutions like Lund University’s Cardiac MR Group highlights strong research foundations behind product development.

Podcasts or Interviews

There is no direct evidence found regarding podcasts or interviews featuring the company team publicly available online within recent search results.

Conferences and Fair Visits / Presentations

Syntach has actively participated in notable cardiovascular industry events:

CRT (Cardiovascular Research Technologies) Annual Meeting 2023 held at Washington DC featured Syntach Cardiac Support System selected for an oral presentation in their Best Innovation Competition. Their technology also qualified for the CRT Top Innovation Award category at this conference held February 25–28, where CEO Patrick N.J. Schnegelsberg along with VP Clinical Affairs Kristian Solem attended.

This event is recognized as a leading educational forum covering new technologies important to interventional cardiologists and other cardiovascular specialists.

Involvement in Events

Beyond CRT 2023 participation:

Partnerships such as that with Meditrial CRO not only drive clinical trials but also suggest ongoing involvement with regulatory discussions potentially involving workshops or scientific meetings related to product approval pathways.

Overall since winning EIC Accelerator funding in late 2021 until early/mid 2023:

Aspect	Details
Media Features	Multiple press releases on funding rounds & partnerships published via Biospace, PR Newswire & CNW
Key Publications	Coverage by BioWorld MedTech highlighting EU grant; detailed announcements through corporate channels
Podcasts/Interviews	No publicly accessible podcasts/interviews found
Conference Participation	Oral presentation & innovation award competition at CRT Annual Meeting Feb ‘23
Event Involvement	Partnership announcement events; likely regulatory/scientific meetings linked through Meditrial collaboration

In summary, post-EIC Accelerator award Syntach AB has secured wide publicity around their innovative cardiac assist system via multiple reputable media outlets focused on medtech innovation while maintaining active presence at major cardiology conferences like CRT where they received commendations for innovation. Their strategic partnerships further reinforce ongoing engagement within relevant scientific-clinical ecosystems supporting future commercialization efforts.

Sources: - Biospace - Syntach €17.5M Funding Announcement

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