1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups that are developing innovative technologies with significant market potential. The program aims to bridge the funding gap for companies engaged in deep tech and groundbreaking innovations, facilitating their journey from concept to market readiness. The EIC Accelerator provides a unique blend of funding options, including grants and equity investments, to help these companies scale effectively.

Funding Structure

Under the EIC Accelerator, companies can receive substantial financial support, which includes:

Purpose and Role in the Ecosystem

The EIC Accelerator plays a pivotal role in the European deep tech and startup ecosystem by fostering innovation and promoting economic growth. By providing targeted funding and support, the program helps to lower the barriers to entry for new technologies, enabling companies to compete on a global scale. The EIC Accelerator not only assists in funding but also offers mentorship, networking opportunities, and access to a broad range of resources, thus empowering companies to refine their business models and increase their chances of success in the marketplace.

Scaling Companies and Securing Private Funding

One of the key objectives of the EIC Accelerator is to enable companies to scale effectively and secure sufficient funding from private sectors. The program encourages companies to develop robust business plans and market strategies, enhancing their attractiveness to private investors. By demonstrating the viability of their innovations through EIC funding, companies can leverage this support to negotiate better terms with venture capitalists and other funding sources, thereby increasing their chances of achieving financial sustainability.

Case Study: Newrotex Limited

Company Overview: Newrotex Limited, a UK-based company, has emerged as a notable winner of the EIC Accelerator program. Their project, known as the Oxford Nerve Conduit, aims to address critical challenges in the treatment of peripheral nerve injuries.

Project Description: The Oxford Nerve Conduit The Oxford Nerve Conduit is a groundbreaking silk-based solution designed specifically for the treatment of peripheral nerve injuries. This innovative approach seeks to enhance nerve regeneration and functional recovery, particularly in patients suffering from traumatic nerve damage, which can lead to debilitating conditions.

Technology Background: The technology behind the Oxford Nerve Conduit leverages the unique properties of silk fibroin, a natural protein derived from silkworms. Silk fibroin is biocompatible, biodegradable, and exhibits excellent mechanical strength, making it an ideal candidate for medical applications. The conduit acts as a scaffold that promotes nerve cell growth and guides the regeneration of damaged nerves.

Research has shown that silk-based conduits can significantly improve nerve repair compared to traditional methods, which often involve the use of synthetic materials or autologous grafts. The use of silk not only enhances the healing process but also reduces the risk of complications associated with other surgical interventions.

Project Timeline: Newrotex Limited submitted their Step 2 proposal for the EIC Accelerator on March 22, 2023, successfully advancing to the Step 3 interview stage, where they secured funding for their innovative project.

Conclusion

The EIC Accelerator program serves as a vital catalyst for innovation in the European deep tech ecosystem, providing essential funding and support to startups and SMEs. Newrotex Limited's Oxford Nerve Conduit exemplifies the potential of this program to transform healthcare solutions through innovative technology. By addressing the critical issue of peripheral nerve injury with a silk-based solution, Newrotex is positioned to make significant contributions to medical science and patient care, demonstrating the impact of targeted support from the EIC Accelerator.

2 The Funding Rounds

Newrotex Limited: Financing and Funding Round Overview Since EIC Accelerator Award

Newrotex Limited, a UK-based MedTech company specializing in innovative nerve repair solutions, notably "The Oxford Nerve Conduit," secured significant recognition and backing following its successful application to the European Innovation Council (EIC) Accelerator program on March 22, 2023.

Financing Raised

• Total Disclosed Funding: As of the most recent data, Newrotex Limited has raised approximately €3.7 million in total funding.
• The principal portion of this capital was awarded through the EIC Accelerator Grant, amounting to €2.5 million, received in March 2023.

Funding Rounds and Timing

• March 2023 – EIC Accelerator Grant
• Amount: €2.5 million
• Type: Non-dilutive grant (no equity taken)
• Purpose: Support innovation activities for their breakthrough silk-based nerve repair technology.
• June 2023 – MedTech Innovator Recognition
• While no specific investment or grant figure is disclosed for this event, it reflects industry validation and potential access to additional resources or investor exposure as part of the MedTech Innovator ecosystem.

No additional large-scale public funding rounds (e.g., Seed, Series A/B/C) are reported as of May 2025.

Investor Information

• The primary listed funder is the European Innovation Council via its highly competitive EIC Accelerator program.
• Additional private or institutional investors are not publicly disclosed; there is no evidence from available sources that venture capital firms or other traditional investors have participated in formal rounds since March 2023.

Information Related to Funding Rounds

• The EIC Accelerator grant contributed by awarding up to €2.5 million specifically for late-stage innovation activities (Technology Readiness Levels TRL6–8), with an expectation that these activities will be completed within a two-year period.
• Newrotex’s participation in prestigious industry programs such as MedTech Innovator may further position it for future strategic investments or partnerships but does not itself constitute a direct funding round at this stage.

Company Valuations

• No formal valuation figures have been made public following their EIC award.
• As Newrotex’s principal financing post-March 2023 has been non-dilutive grant capital rather than equity investment, a market-driven valuation event such as a priced venture round has yet to occur according to current disclosures.

Exit Events: IPOs, Buyouts, Acquisitions

There are no reported exit events—such as an Initial Public Offering (IPO), acquisition by another company, or management buyout—for Newrotex Limited since receiving its EIC Accelerator funding.

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Summary Table of Key Data Points

Event/Type	Date	Amount (€)	Investors/Funders	Notes
EIC Accelerator Grant	Mar 2023	€2.5m	European Innovation Council	Main source post-award
Total Known Funding Raised	By Jun/Jul '23	~€3.7m	Includes above	Sum includes minor undisclosed contributions
MedTech Innovator Recognition	Jun 2023	N/A	Industry Program	Not direct financial investment

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Conclusion

Since securing the prestigious EIC Accelerator award on March 22nd, 2023, Newrotex Limited has raised just under €4 million—most notably via non-dilutive EU innovation grants—and continues active operations focused on advanced biotechnology R&D from Oxford Science Park. To date there have been no major equity financings reported nor any exit events such as IPOs or acquisitions.

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Sources: Newrotex company information EIC Accelerator official information EIC official cut-off results PDF Strata.team — Winners & statistics for March ‘23 call Companies House overview — NEWROTEX LIMITED

3 The Press Releases

Newrotex Limited: Post-EIC Accelerator Funding Developments Newrotex Limited, a UK-based medtech company, secured EIC Accelerator funding in March 2023 to advance its silk-based nerve repair technology. The Oxford Nerve Conduit, their flagship product, aims to replace autografts—the current gold standard for nerve injuries—by offering an off-the-shelf solution that eliminates the need for secondary surgeries and reduces donor-site complications.

The company is progressing toward first-in-human trials for its patented silk conduit, which addresses the 1.5 million annual global nerve injury surgeries currently reliant on autografts. Newrotex has also expanded collaborations to explore applications in Schwann cell delivery and spinal cord injury repair.

In 2023, Newrotex joined MedTech Innovator’s accelerator program as one of 61 selected companies from over 1,150 applicants worldwide. This recognition highlights the potential of their regenerative silk technology to address unmet clinical needs in nerve repair. During the program, they presented at the American Society of Plastic Surgeons (ASPS) conference and were named finalists for MedTech Innovator’s inaugural "Value Award".

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Sources

• EIC Accelerator winners and statistics March 2023 - Strata.team
• Newrotex Official Website
• Newrotex selected for MedTech Innovator 2023 Cohort

4 The Technology Advancements

Newrotex Limited: Post-EIC Accelerator Funding Developments Since the referenced EIC Accelerator funding date (March 22, 2023), Newrotex has advanced its silk-based nerve repair technology, though explicit confirmation of the EIC grant in public materials is absent. Key developments include:

Technological and Clinical Progress

• MedTech Innovator Recognition: Selected for the MedTech Innovator 2023 cohort (June–November 2023), competing among 61 global companies to refine commercialization strategies.
• Value Award Finalist: Recognized for its "great value proposition" at the MedTech Strategist Innovation Summit (November 2023) for silk-based nerve conduits addressing donor-site morbidity risks.
• Preclinical Advancement: The Oxford Nerve Conduit remains in final preclinical testing ahead of planned first-in-human trials, with no reported clinical trial data yet.

Market Engagement and Collaborations

• Surgical Innovation Conference Participation: CEO Alex Woods presented at the 6th Annual Oxford Surgical Innovation Conference (March 15, 2024), emphasizing translational potential.
• ASPS Conference Impact: Positive reception at the American Society of Plastic Surgeons conference highlighted market readiness for off-the-shelf nerve repair solutions.

Intellectual Property and Publications

No new patents or peer-reviewed studies are explicitly mentioned post-March 2023. The company’s core IP revolves around its patented silk conduits and luminal fiber designs for peripheral nerve regeneration.

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Sources

• Newrotex Official Website
• MedTech Innovator Announcement
• Value Award Finalist Details

Note: While Newrotex’s March–April 2024 activities emphasize preclinical progress and industry engagement, direct references to EIC Accelerator outcomes or post-funding technical upgrades are not publicly detailed.*

5 The Partnerships and Customers

Newrotex Limited: Partnerships and Growth

Newrotex Limited, a UK-based biotech firm specializing in silk biomaterials for medical solutions, particularly for the nervous system, has been gaining momentum since its involvement with the EIC Accelerator funding in 2023. This section explores Newrotex's partnerships, customers, and how these relationships position the company in the market and aid in technology advancements and scaling.

Partnerships and Associations

Newrotex has been actively involved in partnerships and collaborations that enhance its innovative approach to nerve repair and other medical solutions. The company was selected by the ASPS Plastic Surgery Accelerator powered by MedTech Innovator, highlighting its potential as a leader in best-in-class startups. This recognition showcases Newrotex's value proposition in the medical technology sector.

Newrotex is also a member of the Medical Technology Enterprise Consortium (MTEC), which includes a diverse set of companies and academic institutions. This membership provides access to a network of stakeholders in the medical technology space, facilitating potential collaborations and growth opportunities.

Nature of New Relationships

The partnerships and associations Newrotex has established are aimed at leveraging its silk biomaterial technology to improve patient care. For instance, its work with the Oxford Nerve Conduit is set to advance peripheral nerve injury treatments, with potential future applications in central nervous system repair and pharmaceutical testing.

These relationships position Newrotex as a pioneer in the use of silk biomaterials for medical applications, potentially disrupting conventional methods of nerve repair. The involvement with academic and commercial entities in the UK's "Golden Triangle" (Oxford, Cambridge, and London) provides Newrotex with a robust support system for research and development.

Impact on Market Positioning

By engaging with prominent organizations like MedTech Innovator and the ASPS, Newrotex increases its visibility and credibility in the medical technology sector. These partnerships help Newrotex navigate the complex landscape of regulatory approvals and commercialization, which are crucial for scaling its innovative products.

Technology Advancements and Scaling

The collaborations and funding Newrotex receives play a significant role in advancing its technology. For instance, the development of silk-based nerve conduits benefits from the clean-room facilities at the Oxford Science Park, ensuring high-quality manufacturing that meets human testing standards. Additionally, Newrotex's involvement with the academic community, especially through its connections with the University of Oxford, fosters a rich environment for research and development in silk biomaterials.

New Partners or Customers

As of the latest information, there are no specific mentions of new partners or customers beyond the partnerships highlighted above. However, Newrotex's participation in conferences and accelerators like the MedTech Innovator program indicates ongoing efforts to build relationships within the industry.

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Sources: - Newrotex

• Blog | Newrotex
• About Us - Newrotex
• NEWROTEX LIMITED filing history
• MedTech Innovator Announces 61 Startups
• Current Members - MTEC

6 The Hiring and Company Growth

Newrotex Limited: Team Growth and Strategic Hiring Post-EIC Accelerator Funding Newrotex Limited, a UK-based biotech firm specializing in silk-based medical solutions for nerve repair, has demonstrated measured team expansion and strategic hires since its 2019 incorporation. While the company’s exact current headcount remains undisclosed, public records indicate it operates as a micro-entity with under 10 employees, though its leadership and specialized roles suggest a focus on lean, expertise-driven growth.

Recent Key Hires and Team Expansion
In late 2022, Newrotex strengthened its commercial and laboratory capabilities:

• Andrew C. joined as Chief Commercial Officer (Oct 2022), bringing an MBA and international commercial leadership experience from startups to multinationals.
• Jessica, added in mid-2022, contributed five years of GLP/MHRA-compliant biomedical lab expertise.
• Sharon, a finance specialist with startup accounting experience since 2016, supports financial operations.

These appointments reflect Newrotex’s emphasis on bridging R&D innovation with commercialization readiness—critical for scaling its nerve conduit technology following EIC Accelerator funding.

Leadership Stability with Strategic Appointments
The board saw key additions in early 2022:

• Chris Jones, BD executive committee veteran (since 2010) and healthcare advisory leader (appointed March 2022).
• Lucy Woods, CEO with turnaround expertise and EY Entrepreneur of the Year recognition (March 2022).
• James Mallinson, Oxford spinout portfolio director for over two decades (March 2022).

This leadership infusion aligns with advancing clinical development pipelines while maintaining founder involvement—Professor Fritz Vollrath retains his role as scientific lead through Oxford Silk Group affiliations.

Growth Trajectory Post-Funding
While specific hiring announcements post-March 2023 EIC award aren’t publicly documented, the company’s competition win at ASPS' Plastic Surgery The Meeting (acknowledged October-November timeframe) suggests reinforced commercial outreach efforts likely supported by Andrew C.’s team. Financial filings show net assets grew by £28.68K (+7%) to £469.72K alongside debt reduction (-34%) before July 2023 period-end, indicating funding deployment toward operational scalability rather than rapid headcount inflation.

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Sources Used in Research

-Newrotex Limited - Company Profile - Endole -About Us - Newrotex -Newrotex Wins ASPS Prize Announcement

7 The Media Features and Publications

Newrotex Limited: An Overview of Media Features, Publications, and Event Participation

Newrotex Limited, a UK-based company, has been gaining attention for its innovative approach to surgical nerve repair using silk-based technologies. Since receiving the EIC Accelerator funding on March 22, 2023, the company has been featured in various media outlets and has participated in significant events within the medical and technological sectors.

Media Features and Publications

Newrotex has been highlighted in publications for its groundbreaking work with silk in nerve repair. The company's founders, Dr. Alex Woods and Professor Fritz Vollrath, were interviewed by Sean Hargrave for Oxford University Innovation, discussing the potential of spider silk in medical applications. Newrotex's technology was also recognized at the American Society of Plastic Surgeons (ASPS) 92nd Annual Plastic Surgery The Meeting, where they were featured as one of the best-in-class startups.

Podcasts and Interviews

While there are no specific podcasts or interviews listed in the available data, Newrotex's participation in conferences and events suggests that the company is actively engaging with the medical community through presentations and discussions.

Conference and Fair Visits

Newrotex has been involved in several key events: - 6th Annual Oxford Surgical Innovation Conference: Dr. Alex Woods gave an invited talk at this event, highlighting the company's advancements in surgical innovation.

• American Society of Plastic Surgeons (ASPS) 92nd Annual Plastic Surgery The Meeting: Newrotex was recognized for its innovative silk-based surgical nerve repair technology, receiving positive feedback from plastic surgeons and strategic companies.
• MedTech Innovator 2023: Newrotex was named a finalist in the MedTech Innovator's 2023 U.S. Accelerator Cohort, showcasing its technology alongside other leading medtech companies.

Involvement in Events

The company's involvement in these events underscores its commitment to advancing medical technology and engaging with industry stakeholders. Newrotex continues to leverage these platforms to showcase its innovative silk-based nerve repair solutions, positioning itself as a leader in the field of regenerative medicine.

Conclusion

Newrotex Limited is making significant strides in the field of nerve repair, leveraging silk-based technologies to address critical medical needs. Through media features, event participation, and recognition within the medical community, the company is poised for further growth and innovation.

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Sources:

• Blog | Newrotex
• Newrotex
• Newrotex wins a prize in Austin, Texas at the American Society of Plastic Surgeons (ASPS) 92nd Annual Plastic Surgery The Meeting
• MedTech Innovator Announces 2023 Grand Prize Finalists