1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program is a pivotal funding initiative instituted by the European Innovation Council (EIC) to support small and medium-sized enterprises (SMEs) and startups in Europe, particularly those engaged in deep tech and innovative sectors. This program is designed to facilitate the transformation of groundbreaking ideas into market-ready products and services, thereby boosting competitiveness and fostering innovation across various industries.

Funding Structure

The EIC Accelerator provides a dual funding mechanism: grants and equity investments.

Purpose in the European Ecosystem

The primary aim of the EIC Accelerator is to bolster the European deep tech and startup ecosystem by providing essential financial resources and support. It serves as a catalyst for innovation, allowing companies to test, develop, and commercialize their technologies effectively. By facilitating access to significant funding and expertise, the EIC Accelerator helps bridge the funding gap that many startups face, particularly in the early stages of development. This, in turn, increases the likelihood of success for innovative projects, promoting economic growth and job creation across Europe.

Role in Scaling Companies

The EIC Accelerator plays a crucial role in helping companies scale by providing not just financial support, but also mentoring, networking opportunities, and strategic guidance. This holistic approach ensures that startups are not only well-funded but also equipped with the knowledge and connections necessary to navigate the complex landscape of international markets. By fostering collaboration between public and private sectors, the EIC Accelerator enhances the potential for startups to secure additional funding and partnerships, ultimately leading to sustainable growth.

Case Study: Restore Medical Ltd and the Contraband Project

Company Overview: Restore Medical Ltd, an innovative startup based in Israel, has emerged as a winner of the EIC Accelerator program. The company specializes in developing advanced medical devices, focusing on solutions for heart failure—a condition that affects millions globally.

Project Overview: The project, titled ContraBand, represents a significant leap in medical technology. ContraBand is characterized as the only heart failure medical device designed to be placed outside the heart, a revolutionary approach that distinguishes it from traditional interventions that typically involve invasive procedures.

Technology Basics and Background: Heart failure is a critical health concern, often leading to severe complications and increased mortality rates. Conventional treatment methods frequently involve surgical interventions or implanted devices, which can carry significant risks and complications. ContraBand addresses these challenges by offering a non-invasive solution that aims to monitor and manage heart failure symptoms effectively.

The technology underlying ContraBand is rooted in advanced sensors and real-time data analytics, enabling continuous monitoring of heart function and fluid levels without requiring surgical intervention. By placing the device externally, Restore Medical Ltd minimizes the risks associated with invasive procedures, potentially improving patient outcomes and quality of life.

The development of ContraBand leverages cutting-edge materials and engineering principles, ensuring durability and reliability. The device is designed to integrate seamlessly with existing healthcare systems, facilitating easy data sharing among healthcare providers and enabling timely interventions when necessary.

The successful proposal submitted on March 23, 2022, marked a significant milestone for Restore Medical Ltd, positioning the company for future growth and innovation. With the grant funding and potential equity investment from the EIC Accelerator, Restore Medical Ltd aims to further develop ContraBand, conduct clinical trials, and ultimately bring this transformative technology to the market.

Conclusion

The EIC Accelerator program stands as a vital resource for European startups, particularly in the deep tech sector. By providing substantial financial support and strategic guidance, it empowers companies like Restore Medical Ltd to innovate and scale effectively. Projects like ContraBand underscore the potential of innovative technologies to address pressing health challenges, reinforcing the role of the EIC Accelerator in fostering a robust and competitive European innovation landscape.

2 The Funding Rounds

Restore Medical Ltd: Funding and Financing Overview Since EIC Accelerator Award

Financing Raised

Restore Medical Ltd, based in Israel, secured significant financing following its success in the European Innovation Council (EIC) Accelerator program. In June 2022, the company announced a total funding package of €12.5 million from the EIC: a €2.5 million grant and a possible additional €10 million equity investment contingent upon reaching certain development milestones. This award was part of the first 2022 EIC Accelerator cut-off round.

Funding Rounds, Timing, and Amounts

• June 2022: Restore Medical received an EIC Accelerator award totaling up to €12.5 million (approximately $13–$14 million USD at prevailing rates). The breakdown included a direct grant (€2.5M) and an equity component (€10M), with the latter subject to future milestones.
• There is no public record of other major funding rounds or disclosed private capital raises for Restore Medical Ltd since this EIC award as of April 2025.

Investors

• The main investors associated with recent funding include:
• European Innovation Council (EIC)
• Peregrine Ventures
• Horizon Europe
• An undisclosed strategic investor has also been mentioned as backing Restore Medical in recent communications.

No additional major private institutional investors or venture capital firms have been publicly listed for post-EIC funding rounds since March/June 2022.

Company Valuations

• As of April 2025, there are no publicly available reports on formal company valuations for Restore Medical Ltd following its EIC Accelerator win.
• Valuation details commonly accompany later-stage venture rounds or exit events; neither appears to have occurred yet for this company based on currently available information.

Exit Events (IPO, Buyout, Acquisition)

• No initial public offering (IPO), buyout, or acquisition event has been reported for Restore Medical Ltd as of April 30th, 2025.
• The primary focus remains on clinical development and commercialization rather than an imminent exit event.

Summary Table: Key Post-EIC Funding Details

Date	Round/Source	Amount	Type	Notable Investors
June 28, 2022	EU/EIC Accelerator	Up to €12.5M	Grant + Equity	European Innovation Council
March–April '22	Unspecified	N/A	N/A	Peregrine Ventures
Exact timing coincides with Step II proposal cut-off leading into Step III interview process; main financing news emerged June '22.

Conclusion

Since winning the EIC Accelerator call in March/June 2022, Restore Medical Ltd has raised up to €12.5 million through EU mechanisms but has not reported further significant private fundraising events nor participated in any exit activities such as IPOs or acquisitions by April 30th, 2025.

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Sources: - Restore Medical secured EU funding to promote breakthrough treatment

• Restore Medical - Startup Nation Finder
• Restore Medical Announces Successful First-In-Human Preliminary Results...
• Restore Medical company information – InvestNY

3 The Press Releases

Overview of Restore Medical Ltd.

Restore Medical Ltd., an Israeli company, is a pioneering medical device firm specializing in interventional cardiology. It has been making significant strides in the treatment of congestive heart failure (CHF) since receiving funding from the European Innovation Council (EIC) in 2022. The company is led by CEO Gilad Marom and was founded by Dr. Elchanan Bruckheimer, Stephen Bellomo, and Aaron Feldman.

Technology Advancements

Restore Medical is renowned for its innovative ContraBand™ system, which is the world's first transcatheter Pulmonary Artery Banding (PAB) technology. This minimally invasive device is designed to treat heart failure with reduced ejection fraction (HFrEF) by leveraging the right ventricle to support the failing left ventricle, thereby improving the patient's quality of life and reducing symptoms of heart failure.

Breakthrough Device Designation

In July 2024, Restore Medical received the Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for its ContraBand™ system. This designation was granted based on promising results from an ongoing feasibility study, demonstrating safety and efficacy, including significant left ventricular volume reduction and improved hemodynamic function.

Clinical Trials

Restore Medical successfully completed the first-in-human trial for its ContraBand™ technology, with initial implantations performed at ZNA Middelheim Hospital in Belgium and Kaplan Medical Center in Israel. The trial showed that the ContraBand™ device is both safe and effective for heart failure patients, offering a reversible treatment option that can improve left ventricular ejection fraction and restore favorable ventricular geometry.

Partnerships and Funding

Restore Medical is funded by prominent investors such as Peregrine Ventures, Incentive Incubator, Allegro, and a strategic investor. The company's success in securing EIC funding in 2022 underscores the confidence in its innovative approach to heart failure treatment.

Team and Leadership

Under the leadership of CEO Gilad Marom, the company includes a team of top clinicians, engineers, and specialists with extensive experience in developing cardiovascular devices. Dr. Elchanan Bruckheimer serves as Medical Director, while Stephen Bellomo is involved in clinical affairs.

Sources

• News & Media Archive - Restore Medical
• Restore Medical Receives Breakthrough Device Designation from FDA for ContraBand™ System to Treat HFrEF Patients
• Restore Medical Announces First in Human Trial for Treatment of Heart Failure in Patients
• Restore Medical wins FDA breakthrough nod for heart failure device
• Restore Medical's ContraBand Implant Evaluated to Treat Chronic Left Ventricular Failure in FIH Trial
• Restore Medical successfully implants heart failure device
• Restore Medical kick-starts clinical trial for Contraband cardiac implant
• Restore Medical

4 The Technology Advancements

Overview of Restore Medical Ltd

Restore Medical Ltd, based in Israel, is a clinical-stage MedTech company focused on developing innovative cardiac implants for treating congestive heart failure (CHF). Their primary product, the ContraBand device, utilizes a novel Pulmonary Artery Banding (PAB) technology to assist the failing left ventricle by leveraging the healthy right ventricle.

Advancements Since EIC Accelerator Funding

In March 2022, Restore Medical received €2.5 million from the European Innovation Council (EIC) Accelerator program, with an additional potential equity investment of €10 million subject to future milestones. This funding has supported the clinical development of the ContraBand device, facilitating further investigation into its safety and efficacy.

Clinical Trials and Demonstrations

The company has successfully conducted First-in-Human clinical trials for the ContraBand system. These trials involved minimally invasive catheter-delivered implants at hospitals in Belgium and Israel, demonstrating promising safety and efficacy results. The positive impact on patients' quality of life and potential financial benefits for healthcare systems have been noted as significant advancements.

Technology Improvements and New Features

The ContraBand technology is designed to be fully reversible, offering a unique advantage over other cardiovascular implants. It aims to restore heart geometry, improving the heart's functionality and enhancing patients' quality of life. Since receiving the EIC funding, there has been no specific mention of new features added to the technology, but the ongoing focus remains on refining and expanding the clinical application of the ContraBand device.

Market Demonstration and Clinical Trials

Restore Medical has demonstrated the ContraBand device through successful implantations in clinical trials. These trials not only show the safety and efficacy of the device but also highlight its potential for significantly improving the lives of patients with heart failure.

New Patents, Studies, or Whitepapers

There is no recent information available on new patents filed or scientific studies published by Restore Medical since the EIC funding in March 2022. However, the company has received an FDA breakthrough device designation for the ContraBand system, indicating significant potential for treating heart failure with reduced ejection fraction (HFrEF).

Recent Developments

Restore Medical secured additional funding to support its clinical development efforts. The company continues to enhance its technology, focusing on improving outcomes for heart failure patients through innovative medical devices.

Conclusion

Since receiving the EIC Accelerator funding in March 2022, Restore Medical Ltd has made significant strides in advancing its ContraBand technology. The company's focus remains on developing effective treatments for congestive heart failure, with ongoing clinical trials and strategic investments supporting these efforts.

Sources

• Restore Medical
• Restore Medical Announces First in Human Trial
• Restore Medical Announces Successful First-In-Human Preliminary Results
• Restore Medical Successfully Implants Heart Failure Device
• Restore Medical Wins FDA Breakthrough Nod for Heart Failure Device
• Restore Medical Secures €2.5 Million in EU Funding

5 The Partnerships and Customers

Restore Medical Ltd: Partnerships and Recent Developments

Restore Medical Ltd, an Israeli company focused on treating congestive heart failure (CHF), has made significant strides since receiving the EIC Accelerator funding in 2022. Here's an overview of its partnerships, customers, and how new relationships are impacting its market position and technological advancements.

Existing and New Partnerships

The company has not publicly announced any specific new partnerships related to the EIC funding. However, it is notable for its innovative medical device technology, particularly the ContraBand system, which is designed to treat heart failure with reduced ejection fraction (HFrEF) through a minimally invasive procedure.

Customers and Market Position

While specific new customer names are not disclosed, the success of the ContraBand system in clinical trials positions Restore Medical Ltd as a pioneering force in heart failure treatment. This technology aims to improve patients' quality of life by enhancing heart functionality, which is crucial for addressing the significant unmet clinical needs in CHF management.

New Relationships and Their Purpose

Although there are no reported new partnerships or customers directly linked to the EIC funding, the successful clinical trials and FDA designations (such as the Breakthrough Device designation for the ContraBand system) indicate a strong focus on advancing medical technology and scaling up the treatment options for heart failure patients.

Impact on Market Position and Technological Advancements

The partnerships and advancements at Restore Medical Ltd are likely to strengthen its position in the global healthcare market by offering groundbreaking solutions for CHF. The EIC funding supports the company's research and development efforts, enabling it to scale up production and distribution of its innovative cardiac implants. This not only enhances its market presence but also contributes significantly to technological advancements in cardiovascular treatment.

Scaling and Technology Advancements

The funding will be instrumental in scaling up the clinical trials and commercialization of the ContraBand system, which could lead to wider adoption and improved heart failure management worldwide. The company's focus on minimally invasive procedures and reversible implants highlights its commitment to advancing medical technology for better patient outcomes.

Conclusion

Restore Medical Ltd's progress, supported by the EIC Accelerator funding, underscores its potential to transform CHF treatment. By leveraging this support, the company is poised to enhance its market presence and drive technological innovation in cardiovascular medicine.

Sources: - Restore Medical - Restore Medical

• Restore Medical Announces Successful First-In-Human Preliminary Results of Its ContraBand System
• Restore Medical Successfully Implants Heart Failure Device
• Restore Medical Receives Breakthrough Device Designation from FDA
• Restore Medical Announces First in Human Trial for Treatment of Heart Failure

6 The Hiring and Company Growth

Restore Medical Ltd

Overview Restore Medical Ltd is an innovative medical device company based in Israel, focusing on improving treatments for congestive heart failure (CHF) through disruptive technologies. After successfully securing EIC Accelerator funding in March 2022, the company has been positioned for significant growth and development in the medical device sector.

Current Headcount and Team Size

There is no publicly available information regarding the current headcount or team size of Restore Medical Ltd. However, securing EIC Accelerator funding typically indicates a strong potential for growth and investment in human capital.

Hiring and Team Growth

Since receiving the EIC funding, there is no specific information on whether Restore Medical Ltd is currently hiring. However, companies that receive such funding often experience increased hiring activity as they expand their operations and develop new technologies.

Growth and Scaling

The EIC Accelerator funding is designed to support the development and scaling of innovative technologies. For Restore Medical Ltd, this funding likely supports the advancement of their CHF treatment technologies, enabling them to expand their research, development, and potential market reach. This growth is crucial for scaling the company's operations and increasing its impact in the medical device industry.

Key Positions and New Team Members

Specific details about key positions recently hired by Restore Medical Ltd are not available. However, the addition of new team members, particularly in areas like research and development, sales, and marketing, would be critical for enhancing the company's capabilities and driving future growth.

Management and Founding Team Changes

There is no information available regarding any major changes in the management or founding team of Restore Medical Ltd since receiving the EIC funding.

Future Prospects

The new team members and investments in technology will be pivotal for Restore Medical Ltd's future success. By expanding its team and technological capabilities, the company can better navigate the competitive medical device market, potentially leading to increased market share and further innovation.

Conclusion

Restore Medical Ltd's receipt of EIC Accelerator funding marks a significant milestone in its journey to revolutionize CHF treatments. As the company grows and scales, it is likely to focus on strategic hiring and technological advancements to solidify its position in the industry.

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Sources

• Restore Medical
• EIC Accelerator Funding Details
• General Information on EIC Funding

7 The Media Features and Publications

Restore Medical Ltd.

Restore Medical Ltd., based in Israel, has made significant strides in medical innovation since receiving funding from the European Innovation Council (EIC) Accelerator in March 2022. The company focuses on developing pioneering medical devices for heart failure treatment, particularly for congestive heart failure (CHF) and heart failure with reduced ejection fraction (HFrEF).

Media Features and Publications

• Restore Medical has been featured prominently in publications such as PR Newswire, which highlighted its receipt of the FDA Breakthrough Device Designation for the ContraBand System. This designation underscores the potential of ContraBand to address critical unmet needs in treating HFrEF patients.
• Globes, an Israeli business news platform, covered Restore Medical's successful implantation of its ContraBand device in human trials, emphasizing its potential impact on patients with chronic left ventricular failure.

Content from Publications

Publications have noted that the ContraBand device, being the world's first transcatheter Pulmonary Artery Banding (PAB) system, offers a minimally invasive procedure to improve the quality of life for HFrEF patients. It leverages the healthy right ventricle to support the failing left ventricle, thereby enhancing ejection fraction and restoring optimal ventricular geometry.

Podcasts and Interviews

While there is no specific information on podcasts or interviews performed by Restore Medical Ltd.'s team, the company's progress and innovations are primarily highlighted through press releases and news articles.

Conferences and Events

There is no detailed information available about Restore Medical Ltd.'s participation in specific conferences or events. However, the company's progress and achievements are regularly updated on its news and media page.

Involvement in Events

Restore Medical's involvement in events may not be widely documented, but its advancements in medical device technology, especially the ContraBand System, have garnered significant attention within the medical community. The company continues to focus on improving heart failure treatments, which suggests potential future participation in medical conferences and events.

Conclusion

Restore Medical Ltd. is at the forefront of heart failure treatment innovation, with its ContraBand device offering new hope for patients with limited treatment options. The company's achievements and advancements are closely followed by medical and business publications, highlighting its potential to transform cardiac care.

Sources: - Restore Medical

• News & Media Archive - Restore Medical
• Restore Medical Receives Breakthrough Device Designation from FDA for ContraBand System
• Restore Medical Announces Successful First-In-Human Preliminary Results of Its ContraBand System
• Restore Medical Successfully Implants Heart Failure Device
• Restore Medical Wins FDA Breakthrough Nod for Heart Failure Device