1 The EIC Accelerator Project

EIC Accelerator Program: Overview and Funding Mechanisms

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups in developing and scaling high-risk innovations with significant potential for impact. Focused primarily on deep-tech solutions, the program aims to bridge the funding gap for companies that might struggle to secure investment through traditional means, particularly in the formative stages of their development.

Funding Structure

The EIC Accelerator provides financial support through a blended finance model, which combines grants and equity investments.

Purpose and Role in the Ecosystem

The EIC Accelerator plays a crucial role in enhancing the European deep-tech and startup ecosystem by fostering innovation and supporting companies that can contribute to societal challenges. It targets technologies that align with the European Union's strategic goals, including sustainability, health, and digital transformation. By providing both financial and strategic support, the program enables companies to scale their operations and enhances their visibility to private investors.

The EIC Accelerator also offers mentorship and networking opportunities, connecting startups with industry experts, potential partners, and investors. This support is pivotal in helping companies navigate the complexities of scaling, allowing them to secure additional funding from private sectors.

Case Study: Hydrumedical, S.A. and the HYDRUSTENT Project

Company Overview

Hydrumedical, S.A., based in Portugal, has been recognized as an EIC Accelerator winner for its innovative project, HYDRUSTENT. This project focuses on the development of a Hydrogel Biodegradable Ureteral Stent, a significant advancement in medical technology aimed at improving patient outcomes in urology.

Project Details: HYDRUSTENT

The HYDRUSTENT project aims to create a biodegradable ureteral stent made from hydrogel materials. Traditional ureteral stents, typically made from silicone or polyvinyl chloride, often pose complications due to their permanent presence in the urinary tract. These complications can include infection, irritation, and the need for surgical removal, leading to an increased burden on healthcare systems and patients alike.

Technology Background:

The hydrogel technology utilized in the HYDRUSTENT project offers several advantages over conventional materials. Hydrogels are three-dimensional, hydrophilic polymer networks that can retain large amounts of water while providing a soft and flexible structure. This characteristic is essential for medical implants, as it mimics the natural tissue environment, reducing the risk of irritation and inflammation.

The biodegradable aspect of the HYDRUSTENT means that the stent will gradually dissolve in the body after fulfilling its purpose, eliminating the need for additional surgical procedures to remove it. This feature not only enhances patient comfort but also contributes to lower healthcare costs and improved clinical outcomes.

The funding received from the EIC Accelerator will facilitate the final stages of R&D, clinical trials, and market introduction of the HYDRUSTENT. By leveraging the grant and equity provided through this program, Hydrumedical can expedite the development process, ensuring that this innovative solution reaches healthcare providers and patients in need.

Conclusion

The EIC Accelerator program serves as a vital instrument for fostering innovation and scaling high-potential startups in Europe. By supporting projects like HYDRUSTENT from Hydrumedical, the program not only advances technological solutions in critical fields like healthcare but also strengthens the overall European innovation landscape. The blended finance model provides necessary resources to navigate the challenging journey from concept to market, ultimately benefiting society as a whole through improved healthcare solutions.

2 The Funding Rounds

Hydrumedical, S.A. – Financing and Funding Events Since EIC Accelerator Award

Hydrumedical, S.A., based in Portugal, specializes in developing innovative urological medical devices, notably the hydrogel biodegradable ureteral stent (HYDRUSTENT). The company was an EIC Accelerator winner following its application at the March 22, 2023 cut-off date.

Financing Raised and Funding Rounds

• Hydrumedical received significant support from the European Innovation Council (EIC) Accelerator program. In June 2023, it was announced as one of 51 companies to secure a share of €261 million under the March 2023 round. This funding is provided through blended finance—combining non-dilutive grants and direct equity investment via the EIC Fund.
• The precise amount allocated to Hydrumedical from this pool has not been individually disclosed; however, each selected company typically receives between €2–6 million depending on their project scope and financial needs.

Timing and Amount of Funding Rounds

• The main identifiable funding event since March 22, 2023 is the EIC Accelerator financing awarded in June 2023.
• There are no publicly available records indicating that Hydrumedical conducted additional private funding rounds or venture capital raisings post-EIC award up to May 2025.

Investor Information

• The principal investor for this round is the European Innovation Council Fund (EIC Fund), which provides both grant-based support and equity investment as part of its blended finance model for scaling deep-tech startups across Europe.
• No other institutional or private investors have been publicly disclosed as having participated in new rounds since the EIC Accelerator award.

Information Related to Funding Rounds

• As an EIC Accelerator recipient via blended finance:
• Hydrumedical secured both grant funding for product development/validation activities
• And equity investment aimed at supporting commercialization efforts.
• This dual structure enables milestone-based disbursements with oversight from EU-appointed experts.
• No announcements regarding Series A/B/C rounds or participation by notable venture capital firms have surfaced since mid-2023.

Company Valuations

• There are no public disclosures about specific company valuations resulting from recent fundraising events.
• Typically, companies receiving substantial equity investments through programs like the EIC Fund undergo a valuation assessment; however these figures remain confidential unless released by either party.

Exit Events: IPOs or Acquisitions

• As of May 2, 2025:
• There are no reports that Hydrumedical has pursued an exit event such as an initial public offering (IPO), acquisition, merger or buyout.
• The company remains privately held with primary external backing stemming from EU innovation funds post-March 2023.

Summary Table

Event/Aspect	Details
Major Financing	Blended finance (grant + equity) via EIC Accelerator
Timing	Announced June 20th, 2023
Investors	European Innovation Council Fund
Additional Private Rounds?	None publicly reported post-EIC award
Company Valuation	Not publicly disclosed
Exit Events	None reported

Conclusion

Since winning its EIC Accelerator award after March’s cut-off date in April-June 2023, Hydrumedical’s only major financing event has been through this prestigious European program. No further traditional VC rounds or exit events have taken place according to currently available information up to May 2025.

Sources

• Hydrumedical S.A. is extremely pleased to be one of...
• EIC Accelerator winners and statistics March 2023
• Hydrumedical company information – Dealroom

3 The Press Releases

Hydrumedical, S.A.: Innovations and Achievements

Hydrumedical, S.A., based in Portugal, has been a prominent player in the development of innovative medical technologies since its founding in 2016. The company's main focus areas include biodegradable ureteral stents, gastroenterology devices such as those for ostomy, and sports medicine solutions. Hydrumedical achieved a significant milestone by winning the EIC Accelerator funding on March 22, 2023.

Technology Advancements

Hydrumedical specializes in the design and prototype development of medical technologies. They have developed integrated sensorization and communication systems for urological catheters, showcasing their commitment to innovation in medical devices. Their work on biodegradable ureteral stents highlights a focus on reducing healthcare costs and enhancing patient comfort by minimizing the need for secondary surgeries.

Partnerships and Collaborations

In 2021, Hydrumedical entered into a distribution agreement with Sausport for its Infection Control Line products in Portugal and Spain. This strategic partnership underscores the company's efforts to expand its market reach and accessibility across Europe.

Press Releases and Updates

While specific recent press releases from Hydrumedical are not detailed, the company's blog posts highlight ongoing innovation and awareness efforts, particularly in non-COVID related diseases. They emphasize the importance of raising awareness about various health conditions beyond the pandemic.

Team and Company Updates

Hydrumedical is led by CEO Alexandre Barros, and the company is recognized for its quality management systems, holding certifications such as ISO 13485 and ISO 9001.

Funding and Projects

Hydrumedical is also involved in projects supported by European funding initiatives. Their focus on combined systems for improving outcomes aligns with broader European innovation goals.

Sources

• Developing the Next Generation of Medical ... - Hydrumedical
• Hydrumedical - Developing the Next Generation of Medical ...
• Hydrumedical SA - Health Portugal
• PT2030_Operações-set.2024 - Portugal 2030
• Lista Op.Aprov. <=30SET - Compete 2030

4 The Technology Advancements

Hydrumedical, S.A.: Post-EIC Accelerator Advancements and Current Capabilities

Core Capabilities

Hydrumedical, S.A., a Portuguese medtech company founded in 2016, specializes in biodegradable medical devices using natural-origin polymers. Their patented HydrUStent™ technology—a hydrogel-based ureteral stent—eliminates the need for surgical removal by biodegrading naturally. The company operates a 1,600 m² facility with ISO 13485-certified cleanrooms (ISO Class 6) and automated production lines for medical-grade lubricants, disinfectants, and stoma care products. Their multi-disciplinary team focuses on urology, gastroenterology, and infection control solutions.

Post-Funding Developments

Since securing €6 million in EIC Accelerator funding (June 2023), Hydrumedical has accelerated its mission to address long-term healthcare challenges through disruptive technologies. While specific details about new patents or peer-reviewed studies are not publicly disclosed since the award:

• Product Launches: Pre-2023 developments include their Infection Control Line (disinfectants) and HydrU®LUB sterile lubricant, but no post-funding product announcements are documented.
• Clinical Validation: Earlier pre-clinical studies demonstrated HydrUStent’s efficacy in reducing encrustation compared to traditional stents. Post-funding clinical trial updates are not yet public.
• Market Presence: The company promotes its biodegradable stent as a cost-reducing solution for healthcare systems by avoiding secondary surgeries. User testimonials from surgeons highlight interest in reducing lower urinary tract symptoms (LUTS) associated with stents.

Technology Demonstrations

Hydrumedical participated in KIMES 2025, showcasing innovations alongside Bioceramed S.A., though specific technological demonstrations remain unspecified. Their website emphasizes ongoing prototype testing and validation services but does not detail recent customer pilots or collaborations since mid-2023.

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Sources
Hydrumedical's Instagram post about KIMES 2025
Hydrumedical's provider page detailing quality management
HydruStent success story PDF
Hydumedical's official website
Hydumedical's EIC Accelerator announcement (Note: URL split due to source formatting; actual link merges "hyd rum edical" into "hyd rumed cal")

5 The Partnerships and Customers

Hydrumedical S.A. Partnerships and Strategic Relationships Post-EIC Accelerator Funding Since securing EIC Accelerator funding in 2023, Hydrumedical S.A. has expanded its collaborative network to advance medical technology development and market positioning.

Key Partners and Customers

• Stomacare - Entregas Médicas: National distributor for medical device delivery in Portugal, reinforcing local market access.
• Sausport: Partnership for distribution of HYDRU® Infection Control Line (disinfectants) across Portugal and Spain, enhancing regional commercialization.
• Bioceramed: Joint participation at ArabHealth 2023 in Dubai to explore gastroenterology and urology device markets in the Middle East.
• BIOMEND Consortium: Participation in this EU doctoral network (with University of Galway, Maastricht University, etc.) to develop bioabsorbable endovascular medical devices, focusing on material innovation.

Recent Collaborations and Market Positioning

Hydrumedical’s inclusion in the BIOMEND Doctoral Network underscores its role in cross-border R&D for bioabsorbable technologies. This positions the company as a leader in biodegradable stents (e.g., HydrUStent) and infection-control solutions while aligning with EU-wide sustainability goals. The EIC Accelerator funding further supports scaling prototype development for ureteral stents aimed at reducing healthcare costs through non-surgical designs.

Technological Advancements Through Partnerships

Collaborations with academic institutions like the University of Galway enable access to advanced biomaterial research, critical for improving stent biodegradability profiles. Distribution agreements with Stomacare and Sausport facilitate rapid market entry for HYDRU® products, while clinical feedback from urology experts ensures alignment with patient needs—particularly addressing lower urinary tract symptoms (LUTS).

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Sources

• Developing the Next Generation of Medical Technologies
• Infection Control Line Distribution Agreement
• ArabHealth Collaboration Announcement
• BIOMEND Doctoral Network Participation
• EIC Accelerator Funding Milestone

6 The Hiring and Company Growth

Hydrumedical S.A. Overview and Team Growth

Hydrumedical S.A., a Portuguese company specializing in medical technologies and biodegradable materials, has been making significant strides in the medtech industry since its inception in 2016. As a winner of the EIC Accelerator funding in March 2023, the company is poised for further growth and innovation.

Current Headcount and Team Size

As of the latest available data, Hydrumedical S.A. employs between 10 and 50 employees. The company's workforce is structured around a multi-disciplinary team of engineers and scientists who focus on designing and developing medical technologies.

Hiring and Team Growth

There is no specific information available on whether Hydrumedical S.A. is currently hiring. However, given their recent funding and focus on innovation, it is likely that they are expanding their team to support new projects and technologies.

Growth and Scaling

Since its founding, Hydrumedical has experienced significant growth, driven by its innovative approach to biodegradable medical devices, such as the patented HydrUStent technology. This growth is expected to continue with the support of the EIC Accelerator funding, which will help them scale their operations and develop new medical technologies.

Key Positions and Future Impact

While specific details about recent hires are not available, the addition of new team members will likely enhance Hydrumedical's capabilities in areas such as prototype development, regulatory affairs, and clinical trials. These new skills will be crucial for expanding their product portfolio and entering new markets, thereby contributing to the company's scaling and growth.

Management and Founding Team Changes

There is no publicly available information about major changes in management or the founding team at Hydrumedical S.A.

Future Prospects

With the EIC Accelerator funding, Hydrumedical is well-positioned to further develop its innovative medical devices and technologies. This funding will likely enable them to strengthen their research and development capabilities, enhance their manufacturing processes, and expand their market reach, thereby contributing to sustainable growth and innovation in the medtech sector.

Sources

• Hydrumedical S.A. Overview
• Hydrumedical - Developing the Next Generation of Medical Technologies
• Success Story - Hydrumedical

7 The Media Features and Publications

Hydrumedical, S.A.: Post-EIC Accelerator Visibility and Engagement Since securing EIC Accelerator funding in March 2023 for its Hydrogel Biodegradable Ureteral Stent (project reference 190169028), Hydrumedical has maintained a specialized profile in medtech innovation, though publicly available details about media coverage, publications, or podcasts remain limited based on current sources.

• Conference Participation: The company exhibited at Arab Health 2024, a leading healthcare exhibition, highlighting its biodegradable stent technology and infection control products.
• Expert Endorsements: Surgeons globally have emphasized the clinical potential of its HydrUStent technology. A consultant urologist at Ealing Hospital NHS Trust noted the stent’s design aims to eliminate lower urinary tract symptoms (LUTS) while avoiding secondary surgeries. Similarly, a professor from the University Hospital North Norway described biodegradable stents as transformative for kidney transplant outcomes.
• Funding and Development: Beyond the EIC Accelerator win, Hydrumedical leverages multiple EU and national grants (Portugal 2030, HORIZON, Portugal 2020) to advance its urology and gastroenterology portfolios. Its ISO 13485 certification underscores compliance with medical device regulations.

No specific podcasts or interviews with team members were identified through publicly indexed sources. However, their participation in Arab Health suggests active engagement with industry stakeholders.

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Sources