1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support startups and small and medium-sized enterprises (SMEs) that are developing innovative products, services, or processes. The program provides funding to help these companies scale their operations, enhance their market presence, and drive technological advancements within the European Union.

Funding Structure

The EIC Accelerator offers a unique blended finance model that includes both grants and equity investments. Under this program:

• Grants: Companies can receive up to €2.5 million in grant funding. This grant is intended to cover a portion of the development and commercialization costs of innovative projects. It provides essential financial support that can help companies advance their technology without the immediate pressure of repaying funds.
• Equity Investments: The equity component can be as high as €15 million until 2024, and up to €10 million thereafter. This investment is offered in exchange for equity stakes in the companies, providing them with significant capital to scale operations, invest in research and development, and bring their innovations to market.

Purpose and Impact

The primary purpose of the EIC Accelerator is to bolster the European DeepTech and startup ecosystem. It aims to bridge the funding gap that many innovative companies face, particularly in the early stages of development. The program helps startups attract additional private investment by providing initial funding that demonstrates the viability of their projects. This in turn encourages private investors to engage with these companies, facilitating further growth and innovation.

Role in Scaling and Funding

The EIC Accelerator plays a crucial role in helping companies scale their operations by not only providing financial resources but also offering a network of support that includes mentorship, business coaching, and access to potential investors. This multifaceted approach assists companies in developing robust business models and strategies that enhance their chances of long-term success. Furthermore, by fostering relationships with private sector investors, the EIC Accelerator helps companies secure additional funding necessary for scaling their operations.

Case Study: HBOX Therapies GmbH and the MiRA Project

HBOX Therapies GmbH, a company based in Germany, emerged as a notable winner of the EIC Accelerator in 2023 with their project, MiRA (Miniaturised Respiratory Assist). HBOX Therapies focuses on developing advanced therapeutic solutions for patients suffering from acute lung failure, a critical condition that requires immediate and effective intervention.

Project Overview: MiRA

MiRA is a pioneering initiative that leverages breakthrough hyperbaric technology to create a miniaturized respiratory assist device. The primary goal of the project is to provide an innovative treatment option for patients experiencing acute lung failure, a condition characterized by the inability of the lungs to provide adequate oxygenation to the bloodstream.

Technology Basics and Background

The core technology behind MiRA is grounded in hyperbaric medicine, which involves the therapeutic use of high-pressure oxygen. This technique has been traditionally employed to treat various medical conditions, including decompression sickness and carbon monoxide poisoning. However, HBOX Therapies aims to repurpose this technology to develop a compact, efficient respiratory assist device that can deliver precise oxygen levels to patients in need.

The MiRA device is designed to enhance oxygen delivery and improve ventilation in patients suffering from acute respiratory distress. By utilizing a miniaturized form factor, the device can be integrated into various healthcare settings, making it adaptable for both hospital and home care environments. This flexibility is crucial for addressing the diverse needs of patients and healthcare providers.

The innovative approach of MiRA not only enhances patient care but also aligns with the growing trend of personalized medicine in the healthcare sector. By focusing on delivering tailored respiratory support, HBOX Therapies aims to improve outcomes for individuals suffering from severe lung conditions.

In summary, the EIC Accelerator program serves as a vital resource for innovative startups like HBOX Therapies GmbH. Through its blended finance model and supportive ecosystem, the program empowers companies to develop groundbreaking technologies such as MiRA, ultimately transforming the landscape of acute lung failure treatment and strengthening the European DeepTech ecosystem.

2 The Funding Rounds

HBOX Therapies GmbH: Financing and Funding Events Since EIC Accelerator Submission

Overview

HBOX Therapies GmbH, based in Aachen, Germany, is a medtech startup specializing in minimally invasive lung support technologies. The company submitted its Step 2 proposal for the EIC Accelerator on June 21, 2023, and was later successful in the Step 3 interview phase.

---

Financing Raised

• HBOX Therapies has raised a total of approximately €5 million since its founding.
• The funding includes both private investment and public grants.

---

Funding Rounds

Date	Round Type	Amount Raised	Investors/Backers
April 2022	Grant	€180k	Not specified
February 2023	Seed	€2.3 million (approx. $2.45M)	TechVision Fonds (TVF), High-Tech Gründerfonds (HTGF), Prof. Dr. Peter Borges (business angel)
June 2023	Grant/EIC Award	€2.5 million	European Innovation Council

</em>The EIC funding is typically structured as a blended finance package; details on equity vs grant split are not specified in current sources.

---

Timing and Amount of Funding Rounds

• April 2022: Early-stage grant of €180k to support initial development activities.
• February 22/23, 2023: Closed seed round raising €2.3 million. This capital was earmarked for prototype development and preparation for clinical trials.
• June 2023: Awarded up to €2.5 million from the European Innovation Council under the prestigious EIC Accelerator program to further advance their hyperbaric blood oxygenation technology towards market readiness.

---

Investor Information

The key investors participating in HBOX Therapies’ seed round include:

• TechVision Fonds (TVF): Lead investor
• High-Tech Gründerfonds (HTGF): Noted early-stage technology fund
• Prof. Dr. Peter Borges: Business angel investor with sector expertise

These backers bring not only capital but also significant industry experience and networks relevant to medtech commercialization.

---

Company Valuations

No public information is available regarding specific company valuations at any funding stage or post-EIC award.

---

Exit Events: IPOs or Acquisitions

As of May 2025:

There have been no reports or announcements regarding an initial public offering (IPO), acquisition, buyout, or other major exit event involving HBOX Therapies GmbH.

The company remains privately held with continued focus on product development and regulatory milestones.

---

Summary Table

Event	Date	Details
Initial Grant	April 2022	€180k grant
Seed Round	Feb 22–23, 2023	€2.3m led by TVF & HTGF
EIC Accelerator Award	June 21+, 2023	Up to €2.5m from EU

No exit events such as IPOs or acquisitions have occurred as of this date.

---

Sources

• HTGF Investment HBOX
• Parsers VC – HBOX Therapies
• Munich Startup Insights – HBOX Therapies
• FinSMEs – HBOX Raises Seed Funding

3 The Press Releases

HBOX Therapies GmbH: Advancing Lung-Protective Respiratory Technology Based in Aachen, Germany, HBOX Therapies GmbH specializes in developing innovative medical technologies for treating acute respiratory failure. The company’s patented HBOX (Hyperbaric Blood Oxygenation) platform offers a less invasive alternative to traditional ECMO (extracorporeal membrane oxygenation) therapies by using hyperbaric pressure to enhance blood oxygenation efficiency. This method reduces the required blood volume for treatment, allowing patients to remain awake and breathe spontaneously during therapy.

In February 2023, the company secured €2.3 million in seed funding led by TechVision Fonds (TVF), with participation from High-Tech Gründerfonds (HTGF) and business angel Prof. Dr. Peter Borges. The funds were allocated to prototype development and preclinical testing ahead of clinical trials. While specific details about an EIC Accelerator award are not publicly disclosed in available sources as of mid-2023, HBOX’s technology aligns with high-impact medical innovations typically supported by such grants.

The founding team—Dr. Peter Schlanstein, Dr. Matthias Menne, and Niklas Steuer—brings expertise from RWTH Aachen University’s Institute for Applied Medical Technology (AME). Their focus on minimizing invasive ventilation risks positions HBOX’s technology as a potential game-changer for reducing complications, hospital stays, and mortality rates among lung-failure patients.

---

Sources

• MedTech startup HBOX Therapies receives €2.3m in seed funding
• HBOX Therapies – HTGF Portfolio
• HBOX Therapies Official Website

Note: No press releases or blog posts directly referencing EIC Accelerator funding were found on the company’s website or third-party sources as of the latest available data.

4 The Technology Advancements

Current Capabilities and Advancements of HBOX Therapies GmbH

HBOX Therapies GmbH, a pioneering medical device company based in Aachen, Germany, specializes in developing next-generation solutions for extracorporeal gas exchange. Their primary focus is on a patented platform technology for hyperbaric blood oxygenation (HBOX), designed to provide lung-protective treatment for respiratory patients by facilitating direct oxygenation of the blood, thus relieving the lungs. This technology allows patients to remain awake and breathe spontaneously during treatment, potentially reducing complications associated with invasive ventilation.

Recent Advancements and Funding

In February 2023, HBOX Therapies received €2.3 million in seed funding from TechVision Fonds (TVF), High-Tech Gründerfonds (HTGF), and business angel Prof. Dr. Peter Borges. This funding was earmarked for developing and testing a prototype, marking a crucial step toward clinical trials. The company aims to achieve CE certification to expedite the technology's availability for patients with lung failure.

However, there is no published information specifically indicating whether HBOX Therapies GmbH received EIC Accelerator funding in June 2023. The only noted funding was the seed round in February 2023.

Technology and Market Presence

The HBOX technology is innovative because it requires smaller volumes of blood for gas exchange due to increased pressure, making it less invasive compared to traditional ECMO (Extracorporeal Membrane Oxygenation) therapies. It can be combined with non-invasive or invasive mechanical ventilation and used earlier in treatment than current ECMO procedures.

As for market demonstration, there is no specific information on whether HBOX Therapies has begun clinical trials or pilots with customers since the seed funding. However, the company's focus is on advancing toward clinical testing with the prototype development supported by the seed funding.

New Patents and Scientific Studies

There are no recent updates on new patents filed by HBOX Therapies GmbH or new scientific studies published since the seed funding announcement. The company's existing technology is already patented, and further developments may be under research, but specific details are not publicly disclosed.

In summary, while HBOX Therapies has made significant strides in developing innovative respiratory support technologies and securing seed funding, specific advancements following an EIC Accelerator funding in June 2023 are not documented in available sources.

---

Sources:

• HBOX Therapies GmbH - Revolutionizing Respiratory Support
• Hbox Therapies GMBH - GovTribe
• Hbox Therapies | HTGF Job Board
• HBOX - RWTH Innovation GmbH
• HTGF Investment HBOX
• HBOX - RWTH Innovation GmbH
• EIC Accelerator – 71 companies selected in the most competitive funding round so far
• German medtech startup HBOX Therapies raises €2.3m seed funding to accelerate clinical testing for lung treatment
• HBOX Therapies Raises €2.3M in Seed Funding

5 The Partnerships and Customers

HBOX Therapies GmbH Partnerships and Market Positioning As of the latest available information from February 2023, HBOX Therapies GmbH (Aachen, Germany) has not publicly disclosed specific customer relationships or commercial partnerships beyond its initial investor consortium. However, key affiliations and strategic details include:

• Investor Partnerships: Secured €2.3 million in seed funding led by TechVision Fonds (TVF) with participation from High-Tech Gründerfonds (HTGF) and business angel Prof. Dr. Peter Borges. These investors provide financial backing and strategic support for prototype development and clinical testing.
• Technology Collaboration: The founding team—Dr. Peter Schlanstein, Dr. Matthias Menne, and Niklas Steuer—leverages expertise from RWTH Aachen University’s Institute for Applied Medical Technology (AME), though no recent institutional partnerships beyond this have been announced.
• Market Positioning: HBOX aims to commercialize its patented hyperbaric blood oxygenation (HBOX) technology as a minimally invasive alternative to mechanical ventilation for lung-failure patients. Clinical trials are a priority to achieve CE certification, positioning the company in critical care medtech with potential cost-reduction claims for hospitals.

No new customers or post-EIC Accelerator partnerships are evident in public records as of the 2023 seed funding announcement. Future collaborations may focus on clinical sites for trials or manufacturing partners ahead of regulatory milestones.

---

Sources

• HTGF Investment HBOX
• Life Sciences Europe: HBOX Platform
• HBOX Therapies Official Website
• Startup Weekly Funding Article
• Parsers VC Profile

6 The Hiring and Company Growth

HBOX Therapies GmbH: Team Growth and Hiring Post-EIC Accelerator Funding As an EIC Accelerator winner (June 2023), HBOX Therapies GmbH has positioned itself as a pioneer in non-invasive respiratory support technology. While specific details about post-2023 hiring, current headcount, or recent team expansions are not publicly disclosed in available sources, the company secured €2.3 million in seed funding earlier that year to advance its hyperbaric blood oxygenation platform.

Key Insights on Team Structure and Growth:

• Seed Funding Utilization: The February 2023 investment round aimed to develop a functional prototype and prepare for clinical testing, implying targeted hiring in R&D, engineering, and regulatory affairs.
• Management Stability: The founding team—Dr. Peter Schlanstein (co-founder), Dr. Matthias Menne (co-founder), and Niklas Steuer (co-founder)—remains active without reported changes.
• Scaling Strategy: HBOX’s technology reduces dependency on invasive ventilation, potentially shortening hospital stays. Scaling efforts likely focus on clinical trial execution ahead of CE certification.

Future Implications of New Hires:
While no specific roles are listed post-EIC award, typical growth areas for medtech startups at this stage include:

• Regulatory Specialists: To navigate CE certification processes for EU markets.
• Clinical Operations Managers: To oversee trials for their miniaturized respiratory assist device.
• Engineering Talent: To refine the patented HBOX system for commercial scalability.

The company’s HTGF portfolio job listings suggest ongoing recruitment for specialized roles but lack public details about current openings or team size. Post-EIC funding likely accelerates talent acquisition to meet commercialization milestones by 2025–2026.

---

Sources
HBOX Therapies Website | HTGF Investment Announcement | HTGF Job Board

7 The Media Features and Publications

Media Features and Public Presence of HBOX Therapies GmbH HBOX Therapies GmbH, an Aachen-based medical device startup specializing in hyperbaric blood oxygenation technology, has garnered media attention primarily through its funding announcements. In February 2023, the company secured €2.3 million in seed funding from investors including High-Tech Gründerfonds (HTGF) and TechVision Fonds (TVF), which was widely covered by industry-focused platforms. While no direct mentions of podcasts or interviews with the founding team (Dr. Peter Schlanstein, Dr. Matthias Menne, Niklas Steuer) are documented in the available sources, their public communications emphasize advancements in lung-protective respiratory support via their patented HBOX technology.

Publications and Reports
Key publications referencing HBOX Therapies highlight its development of miniaturized respiratory assist devices as an alternative to invasive ventilation. The company’s platform aims to reduce complications and hospitalization costs for lung-failure patients. Media releases from HTGF and TechVision Fonds detail HBOX’s progress toward prototype development ahead of clinical trials, though peer-reviewed studies or independent articles specifically naming the technology remain absent from current records.

Event Participation
As a 2021 RWTH Aachen spinoff, HBOX likely leverages academic-industry networks for visibility, but explicit mentions of conference presentations or trade fair participation are not publicly documented. The absence of event-specific details suggests a focus on R&D over public outreach during its early stages post-funding.

---

Sources

• MedTech Startup HBOX Therapies Receives €2.3m Seed Funding
• HTGF Portfolio: HBOX Therapies
• HBOX Therapies Company Overview
• RWTH Aachen Spinoff Secures Funding
• HBOX Technology Description