1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is a critical funding initiative designed to support innovative startups and small to medium-sized enterprises (SMEs) across Europe. The program targets companies that are developing deep-tech solutions with high potential for market impact. It provides a blend of grant funding and equity investments, facilitating the scaling of groundbreaking ideas into viable market products.

Funding Structure

The EIC Accelerator offers a unique financial structure known as blended finance, which combines grant funding and equity investment. The program allows for a grant of up to €2.5 million, aimed at covering the early-stage development costs of innovative projects. This grant can be utilized for research and development, prototyping, and other essential activities that contribute to product advancement.

In addition to the grant, the program provides equity investments of up to €15 million until 2024. From 2025 onwards, the maximum equity investment is set at €10 million. This equity funding is crucial for companies looking to attract additional private sector investments, thereby enhancing their capacity to scale operations and market reach. The blended finance model is designed to reduce the financial risks associated with innovation and encourage further investments from private sources.

Purpose of the EIC Accelerator

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem. By providing substantial funding and resources, it fosters innovation in various sectors, including healthcare, clean technology, and digital solutions. The program aims to bridge the funding gap faced by early-stage startups, enabling them to navigate the challenging transition from concept to commercialization. This support not only catalyzes technological advancements but also stimulates economic growth and job creation across Europe.

Role in Scaling Companies

The EIC Accelerator is instrumental in helping companies scale by offering a comprehensive support system. This includes not only financial backing but also access to a network of investors, mentors, and industry experts. The program assists in preparing companies for investment rounds, enhancing their pitch strategies, and connecting them with potential private investors. This dual approach ensures that recipient companies not only receive immediate funding but are also positioned for sustainable growth and success in the competitive market landscape.

EIC Accelerator Winner: ORIXHA

Company Overview

ORIXHA, a French startup, emerged as a winner of the EIC Accelerator for its innovative project, Luncolive. The project aims to address a critical healthcare challenge: the treatment of cardiac arrest patients through a novel technique known as Hypothermic Lung Conservative Liquid Ventilation.

Project Luncolive

Luncolive focuses on enhancing the survival and recovery rates of patients who experience cardiac arrest. Traditional methods of ventilation can be inadequate in these emergency situations, leading to poor outcomes. The Luncolive project seeks to introduce a groundbreaking approach that utilizes hypothermic liquid ventilation to stabilize patients during critical moments.

Technology Basics and Background

The technology underpinning Luncolive is based on the principles of liquid ventilation, which involves filling the lungs with a liquid medium instead of air. This method has several potential advantages, particularly in the context of cardiac arrest. By inducing hypothermia, the therapy aims to protect vital organs from ischemic damage, thereby improving overall survival rates.

Liquid ventilation is proposed to facilitate gas exchange more efficiently than traditional mechanical ventilation. This is crucial in emergencies where rapid intervention can make the difference between life and death. Hypothermic conditions can further help in reducing metabolic demands on the body, allowing for a more controlled recovery process.

ORIXHA's innovative approach not only offers a novel therapeutic pathway but also aligns with the growing emphasis on patient-centered care in emergency medicine. By focusing on critical care solutions that leverage advanced technology, the company aims to transform the treatment landscape for cardiac arrest patients.

Conclusion

The EIC Accelerator program plays a transformative role in the European innovation landscape, particularly for deep-tech startups like ORIXHA. Through its blended finance model, the EIC Accelerator empowers companies to develop and scale groundbreaking solutions that address pressing societal challenges. ORIXHA’s Luncolive project exemplifies the potential impact of this initiative, showcasing how innovative healthcare solutions can significantly improve patient outcomes in critical situations.

2 The Funding Rounds

# ORIXHA: Funding History and Financial Overview

ORIXHA, a French DeepTech company specializing in liquid ventilation medical technology, has secured significant funding through various rounds since its founding. The company develops innovative medical devices based on its patented "Lung Conservative Liquid Ventilation" (LuncoLive) technology, designed to save the lives of critical care patients by transforming patients' lungs into efficient heat exchange chambers.

EIC Accelerator Funding

ORIXHA was selected for the European Innovation Council (EIC) Accelerator program in late 2022 after being a finalist in the EIT Health Catapult Medtech category in 2021. The company received a grant of €2.4 million from the European Innovation Council in June 2022. This funding was part of the LuncoLive project, which aims to validate the clinical benefit of ORIXHA's Vent2Cool solution for post-cardiac arrest syndrome.

Recent Funding Round

In April 2024, ORIXHA successfully raised €4 million in an Early VC funding round from two key investors:

This investment follows the EIC Accelerator's selection of the LuncoLive project at the end of 2022. The funding will enable ORIXHA to:

• Develop and validate their total liquid ventilation technology in clinical settings
• Focus initially on resuscitated cardiac arrest patients in critical care
• Carry out the first clinical validation of the safety and performance of their liquid ventilation technology
• Validate their industrial strategy

Company Valuation

According to Dealroom.co estimates from April 2024, ORIXHA has an enterprise valuation of approximately $18-26 million. This valuation reflects the company's innovative technology and market potential in the medical device sector.

Fundraising Goals

As of July 2023, ORIXHA was reported to be in a Series A funding round, seeking to raise €11 million to further advance their technology and commercial goals. This indicates the company's continued growth trajectory and need for capital to support its development and commercialization efforts.

Technology and Market Position

ORIXHA is positioning itself to become a world leader in liquid ventilation technology. Their medical device transforms the patient's lungs into an efficient heat exchange chamber with the blood, enabling doctors to protect vital organs from reperfusion damage. The company's long-term goal is to establish liquid ventilation as a new reference clinical platform in Critical Care by 2030.

Svetoslava Georgieva, Chairman of the Board of Directors of the EIC Fund, commented on their investment: "We are delighted to participate in this round of financing for Orixha, and to be associated with its ambition to become the world leader in liquid ventilation. In doing so, we are supporting a breakthrough technology which, once approved by the health authorities, will save many lives."

ORIXHA continues to develop its innovative medical technology with the support of European and French funding institutions, aiming to bring a revolutionary approach to critical care medicine.

Sources: - ORIXHA raises 4 million euros from the EIC Fund and Bpifrance

• ORIXHA company information, funding & investors
• Three EIT Health Catapult alumni receive EIC grants
• ORIXHA company information on Dealroom.co
• EIC & EuroQuity-Bpifrance Healthcare Investor Day

3 The Press Releases

ORIXHA: Innovations and Updates Since EIC Accelerator Funding

ORIXHA, a French company and EIC Accelerator winner, has made significant strides in developing innovative medical technologies, particularly in the field of liquid ventilation. Since receiving the EIC funding in June 2022, ORIXHA has focused on advancing its groundbreaking liquid ventilation technology, which aims to revolutionize critical care by providing rapid therapeutic hypothermia.

Technology Advancements

ORIXHA's flagship product, the Vent2Cool, is designed to protect vital organs, such as the brain and heart, by rapidly cooling patients after cardiac arrest. This device turns the lungs into a sophisticated heat exchanger, reducing the time required to reach the target temperature from several hours to just a few minutes. This accelerated cooling is crucial in mitigating damage that can lead to significant mortality and morbidity following a cardiac event.

Funding and Partnerships

In addition to the EIC Accelerator funding, ORIXHA has secured significant investments to further its mission. In April 2024, it raised €4 million from the EIC Fund and Bpifrance. This investment will enable the company to conduct the first clinical validation of its liquid ventilation technology and validate its industrial strategy. More recently, ORIXHA secured $12 million in a Series A funding round, which will be used to advance clinical trials and scale production capabilities for the Vent2Cool device.

Press Releases and Updates

ORIXHA regularly updates its website with press releases and news about its advancements and funding rounds. For instance, the company announced its successful EIC Accelerator grant and subsequent investments on its website. These updates highlight ORIXHA's progress in developing liquid ventilation technology and its strategic partnerships.

Team and Leadership

While specific team updates are not extensively detailed in the available press releases, ORIXHA's leadership includes F. Paublant as Chairman and CEO. He has been instrumental in guiding the company's strategic direction and securing key investments.

Patents and Intellectual Property

There is no specific information available on new patents filed by ORIXHA since receiving the EIC funding. However, the company's technology is based on advanced principles of liquid ventilation, which involve using perfluorocarbons to facilitate gas exchange and cooling.

Social Media and Website Updates

ORIXHA maintains a professional online presence through its website and social media channels. The company shares updates on its funding successes, technological advancements, and strategic partnerships. However, specific details about its social media press releases are not readily available.

Sources

• EIC Accelerator winners and statistics June 2022
• Total Liquid Ventilation Technology
• Orixha raises 4 million euros from the EIC Fund and Bpifrance
• ORIXHA Secures $12M in Series A
• Three EIT Health Catapult alumni receive EIC grants
• European Innovation Council

4 The Technology Advancements

ORIXHA's Post-EIC Accelerator Advancements in Liquid Ventilation Technology Since securing EIC Accelerator funding in mid-2022, ORIXHA has made significant strides in advancing its Total Liquid Ventilation (TLV) technology, particularly for post-cardiac arrest and respiratory distress patients. Here’s a detailed breakdown of their progress:

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1. Clinical Validation and Regulatory Milestones

• OverCool Study Approval: ORIXHA obtained approval from the French Health Authority to initiate its feasibility clinical study for post-cardiac arrest syndrome using the Vent2Cool device.
• Clinical Trial Protocol Publication: The company published the protocol for its OverCool study, focusing on validating the safety and performance of Vent2Cool in rapidly inducing therapeutic hypothermia.

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2. Technological Advancements

• Vent2Cool Design Freeze: The device design was finalized ahead of clinical validation, enabling ultra-rapid cooling to 33°C within minutes—a critical improvement over traditional methods requiring hours.
• LuncoLive Platform Development: Orixha’s proprietary TLV system leverages breathable liquids to enable lung-protective ventilation, reducing ventilator-induced injuries.

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3. Commercialization and Funding Progress

• Series A Funding Success: In April 2025, ORIXHA secured $12 million to accelerate clinical trials and scale production of Vent2Cool. This follows an earlier €4 million raise from the EIC Fund and Bpifrance in 2024.
• Market Entry Targets: While initial CE marking plans aimed for 2024 (per older reports), recent financing suggests commercialization is now prioritized post-clinical validation.

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4. Scientific Contributions

While specific new patents or whitepapers are not explicitly detailed since 2022, ORIXHA’s foundational research—including peer-reviewed studies on lung-conservative liquid ventilation—remains integral to its credibility. The OverCool trial protocol publication represents ongoing transparency in clinical methodology.

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Sources

-Orixha – Liquid Ventilation for Life -ORIXHA Secures $12M Series A -EIC-Funded Clinical Trial Progress -Post-Cardiac Arrest Technology Development

5 The Partnerships and Customers

Orixha: Partnerships and Development

Orixha, a French company specializing in liquid ventilation technology, has been making significant strides since receiving the EIC Accelerator funding in June 2022. Their mission is to save the lives of critical care patients using their unique liquid ventilation technology.

Partnerships and Customers

Orixha has partnered with several key entities:

• SATT Erganeo: Orixha holds a worldwide license on Total Liquid Ventilation (TLV) from Erganeo, indicating a strong partnership in technology development.
• Bpifrance: Along with the European Innovation Council, Bpifrance has provided significant funding to Orixha, highlighting their financial support and partnership.
• EIT Health and the European Innovation Council (EIC): These organizations have supported Orixha through funding and recognition as an EIC Accelerator winner.

In terms of customers, Orixha is primarily focused on the healthcare sector, particularly hospitals and medical research institutions. The company's technology aims to improve outcomes for post-cardiac arrest patients, but specific customer names are not disclosed.

New Partnerships

There is no specific mention of new partnerships since the EIC Accelerator funding. However, Orixha's ongoing collaborations with existing partners continue to support its development and commercialization goals.

New Relationships and Market Positioning

Orixha's relationships with existing partners will continue to position it as a leader in liquid ventilation technology. The partnership with Bpifrance and the European Innovation Council has provided Orixha with the financial resources needed to advance its technology and prepare for clinical trials.

Technology Advancements and Scaling

The funding from the EIC and Bpifrance has enabled Orixha to progress in the development of its Vent2Cool device, which is designed to rapidly protect vital organs in post-cardiac arrest patients. This technology advancement is crucial for scaling Orixha's solutions, as it aims to address a significant market need in both Europe and the U.S..

Future Prospects

Orixha plans to conduct pivotal clinical trials on both sides of the Atlantic, which will be followed by post-market priority studies. This ambitious plan, supported by strong partnerships and an experienced management team, positions Orixha for significant growth in the medical technology sector.

Sources

• About Orixha
• Orixha – Liquid Ventilation for Life
• LSI Alumni Funding Report Q2 2024
• ORIXHA obtains French Health Authority approval
• Fabrice Paublant Presents Orixha at LSI Europe '23

6 The Hiring and Company Growth

Orixha's Team Growth and Hiring Strategy Post-EIC Accelerator Funding Orixha, a French medtech company specializing in liquid ventilation technology for critical care, has shown strategic team structuring since winning EIC Accelerator funding in 2022. While specific headcount figures are not publicly disclosed, the company’s leadership and operational framework provide insights into its growth trajectory.

Team Structure and Key Positions

The management team includes:

• Fabrice Paublant (CEO): Leads commercialization efforts, with a focus on securing funding for clinical validation[^1^].
• Renaud Tissier (Chief Medical Officer): Oversees medical strategy, particularly for Post Cardiac Arrest Syndrome trials[^2^].
• Mathieu Nadeau (CTO) and Pablo Micheau (Senior Advisor): Drive technical development of the Vent2Cool device[^3^].

New roles include regulatory specialists like Dr. G. Nichol (US Regulatory Advisor) to navigate FDA pathways and operational leads such as L. Vauthier for quality management systems[^4^]. These hires align with Orixha’s 2027 commercialization timeline for Vent2Cool, emphasizing regulatory compliance and clinical trial scalability[^5^].

Growth Milestones

Since its 2018 founding:

• 2021–2024: Secured €4M from EIC Fund/Bpifrance; initiated OverCool feasibility study in partnership with Parisian hospitals[^6^].
• Key projects: LuncoLIVE platform development to leverage lungs as thermal bio-exchangers, aiming to reduce post-cardiac arrest brain damage through precise temperature control[^7^].

Hiring Focus and Future Scaling

Current hiring efforts prioritize:

No recent changes in founding-team composition are reported; the original seven co-founders remain active in governance roles per corporate charters revised post-EIC award.

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Sources:

About Orixha | EIC Accelerator Presentation | Corporate Updates

7 The Media Features and Publications

ORIXHA: A Pioneer in Liquid Ventilation Technology

ORIXHA, a DeepTech company based in France, has made significant strides in the field of medical innovation, particularly in liquid ventilation technology. After being selected as an EIC Accelerator winner in June 2022, the company has garnered attention for its groundbreaking medical device, Vent2Cool, designed to provide rapid therapeutic hypothermia in critical care conditions.

Media Features and Publications

ORIXHA has been featured in several publications and reports since receiving the EIC funding. Notably, the company was highlighted as a recipient of the European Innovation Council's EIC Accelerator grant, receiving €2.4 million for its LuncoLive Total Liquid Ventilation technology. The technology involves using liquid perfluorocarbons to cool patients rapidly, significantly improving their prognosis in critical care scenarios, such as post-cardiac arrest resuscitation.

Content from Publications

Publications have focused on ORIXHA's innovative approach to liquid ventilation, emphasizing its potential to save lives by providing near-immediate protection for vital organs like the brain and heart. The Vent2Cool device transforms the lungs into a heat exchanger, enabling ultra-rapid therapeutic hypothermia, a process that typically takes hours with current methods.

Podcasts and Interviews

Although specific podcasts or interviews featuring the ORIXHA team are not widely documented, the company's participation in prestigious programs like the EIT Health Catapult has helped refine its message and showcase its unique medical device solutions.

Conference and Fair Visits

ORIXHA has likely participated in various conferences, especially those related to medical innovation and critical care. However, specific details about their presentations or participations in conferences are not readily available. The company's involvement in the EIT Health Catapult program suggests a strong presence in European health innovation events.

Involvement in Events

As a finalist in the Medtech category of the EIT Health Catapult in 2021, ORIXHA has demonstrated its ability to engage with the broader medical innovation community. This involvement has likely contributed to its success in securing EIC Accelerator funding and subsequent investments from entities like the EIC Fund and Bpifrance.

Conclusion

ORIXHA's innovative approach to liquid ventilation has positioned it as a leader in developing life-saving technologies for critical care. With ongoing support from European innovation funds and strategic investors, the company is poised to make significant impacts in the medical field.

Sources

• EIC Accelerator winners and statistics June 2022
• Total Liquid Ventilation Technology
• ORIXHA Raises 4 Million Euros
• European Innovation Council
• Three EIT Health Catapult Alumni Receive EIC Grants
• Three EIT Health Catapult Alumni Receive EIC Grants