1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The EIC Accelerator program is a vital component of the European Innovation Council (EIC), established to support innovative small and medium-sized enterprises (SMEs) and start-ups across Europe. This initiative is particularly focused on high-impact and high-risk projects that aim to bring innovative products, processes, or services to market. The EIC Accelerator provides a unique opportunity for entrepreneurs to secure funding and resources needed to scale their innovative ideas, thereby enhancing Europe's competitive edge in the global market.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers a blended finance model that includes both grant funding and equity investment. The grant component can reach up to €2.5 million, which is aimed at covering the costs associated with the development and scaling of innovative projects. This grant is particularly useful for early-stage companies that may not yet have established revenue streams but require capital to progress through the critical phases of product development.

In addition to grants, the EIC Accelerator provides equity investment of up to €15 million until 2024. Starting from 2025, this amount is adjusted to a maximum of €10 million. This equity funding is designed to give companies the financial backing needed to attract additional investments from private sectors, thereby enabling them to scale effectively.

Purpose of the EIC Accelerator in the European DeepTech Ecosystem

The EIC Accelerator plays a crucial role in the European DeepTech ecosystem, which is characterized by its focus on cutting-edge technologies such as artificial intelligence, biotechnology, and advanced materials. By supporting innovative startups and SMEs, the EIC Accelerator aims to foster technological advancements that can lead to significant societal benefits, including improved healthcare, sustainable energy solutions, and enhanced digital connectivity.

The program not only provides financial resources but also offers mentorship, networking opportunities, and access to a broader community of innovators. This comprehensive support system is designed to help startups navigate the complex landscape of technology commercialization, thereby accelerating their growth and impact.

Role in Scaling Companies and Attracting Private Funding

One of the key functions of the EIC Accelerator is to facilitate the scaling of innovative companies by providing them with the necessary funding to advance their projects. By securing a combination of grants and equity investment, companies can leverage these funds to demonstrate their potential and attract further investments from private venture capitalists and angel investors.

This dual approach helps mitigate the financial risks associated with high-reward innovations, making it easier for startups to gain traction in their respective markets. The EIC Accelerator’s strong emphasis on market-driven results ensures that the funded projects are not only viable but also aligned with the needs of consumers and industries.

Innoventric Ltd and the Trillium Project

Innoventric Ltd, a pioneering company based in Israel, emerged as a winner of the EIC Accelerator with its groundbreaking project, Trillium. The Trillium project focuses on developing a transcatheter functional valve replacement specifically for tricuspid valve insufficiency, a condition that affects the heart's ability to pump blood effectively. This innovative solution aims to address a significant gap in the current medical offerings, providing a minimally invasive option for patients suffering from this condition.

Technology Basics and Background

Tricuspid valve insufficiency arises when the tricuspid valve fails to close properly, leading to blood leakage and various cardiovascular complications. Traditional surgical methods for valve repair or replacement can be invasive and carry substantial risks, especially for elderly or high-risk patients. Innoventric’s Trillium project seeks to revolutionize this area of cardiovascular treatment by offering a transcatheter solution that minimizes invasiveness and enhances patient recovery times.

The technology behind Trillium utilizes advanced materials and engineering techniques to create a valve that can be delivered via catheter, significantly reducing the need for open-heart surgery. This method not only provides a safer alternative for patients but also shortens hospital stays and recovery periods, aligning with the growing demand for innovative healthcare solutions.

In summary, the EIC Accelerator program plays a pivotal role in nurturing innovative startups like Innoventric Ltd, empowering them to bring transformative technologies to market. With substantial funding support and a comprehensive ecosystem, the EIC Accelerator enhances the potential for breakthroughs in the European DeepTech landscape, ultimately contributing to improved health outcomes and economic growth.

2 The Funding Rounds

Innoventric Ltd: Overview and Funding Details

Innoventric Ltd, an Israeli company specializing in transcatheter tricuspid regurgitation (TR) treatment, has gained significant recognition and funding since its inception in 2017. The company is known for its innovative Trillium™ technology and cross-caval approach, which simplifies the implantation process and overcomes anatomical complexities associated with traditional treatments.

Financing Raised

Innoventric has raised a total of approximately $42.5 million in funding across several rounds. The most recent significant funding was a Series B round of $28.5 million, announced in October 2024.

Funding Rounds

Timing and Amount of Funding Rounds

• Series A: Announced in November 2021, with $14 million raised, including a €2.5 million grant from Horizon Europe.
• Series B: Announced on October 29, 2024, with $28.5 million raised.

Investor Information

Key investors in Innoventric include: - RA Capital Management: Led the Series B funding round.

• European Investment Committee (EIC): Participated in the Series B round.
• BRM Group: Returning investor in the Series B round.
• JG Private Equity: Returning investor in the Series B round.
• Mivtach Shamir Holdings: Returning investor in the Series B round.

Information Related to Funding Rounds

The funds raised by Innoventric are primarily used to advance clinical trials and expand regulatory approvals in the US and Europe. Innoventric has already completed a first-in-human clinical trial in Europe and received FDA clearance for an Early Feasibility Study (EFS) in the US.

Company Valuations

As of the latest information, Innoventric's market cap remains undisclosed. However, the company's total funding stands at approximately $42.5 million.

Funding or Exit Events

Currently, there are no reported exit events for Innoventric. However, accredited investors can purchase pre-IPO shares through platforms like EquityZen, which facilitate investments in private companies.

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Sources: finsmes.com
innoventric.com
calcalistech.com
finder.startupnationcentral.org
hitconsultant.net
marketscreener.com
equityzen.com
eic.ec.europa.eu
medicalalley.org
lucidityinsights.com

3 The Press Releases

Innoventric Ltd., an Israeli medical device company specializing in transcatheter tricuspid regurgitation (TR) treatments, has made significant strides since receiving the EIC Accelerator funding on June 16, 2021. The company has secured substantial investments, advanced its clinical trials, and expanded its team to further its mission of revolutionizing TR care.

Series B Funding and Technological Advancements

On October 30, 2024, Innoventric announced a $28.5 million Series B funding round, bringing the total funds raised since inception to $41 million. The round was led by RA Capital Management, with participation from the European Investment Committee (EIC), and returning investors BRM Group, JG Private Equity, and Mivtach Shamir Holdings. The funds are earmarked to advance clinical trials and expand regulatory approvals in the U.S. and Europe. (medicalalley.org)

Innoventric's device addresses tricuspid regurgitation by anchoring a prosthetic valve to the superior and inferior vena cava, rather than the moving heart, thereby minimizing risks such as leakage or detachment. This innovative approach simplifies the implantation process and overcomes anatomical complexities associated with traditional treatments. (medicalalley.org)

Clinical Trials and Regulatory Approvals

The company has successfully completed a first-in-human clinical trial in Europe, treating over 40 participants. Additionally, Innoventric received FDA clearance for an Early Feasibility Study (EFS) in the U.S., with patient enrollment actively ongoing and the first U.S. patients already treated. (medicalalley.org)

Team Expansion and Leadership

Innoventric's management team comprises seasoned professionals with extensive experience in medical device development and interventional cardiology. CEO Amir Danino, with 18 years in the field, has been instrumental in bringing various valve projects from concept to clinical application. The team also includes co-founder Rafi Benary, an experienced medical device entrepreneur, and Dr. David Planer, head of interventional cardiology at Hadassah Medical Center. (innoventric.com)

Intellectual Property and Patents

Innoventric holds a robust patent portfolio in cross-caval technologies, reflecting its commitment to innovation in the field of structural heart disease. The company's approach is rigorously data-driven, grounded in clinical research, and designed to benefit a broad spectrum of patients. (innoventric.com)

Press Releases and Media Coverage

Innoventric's recent press releases and media coverage highlight the company's progress and impact in the medical device industry. For instance, the announcement of the Series B funding round and the FDA clearance for the Early Feasibility Study have been covered by various media outlets, emphasizing the company's innovative approach to treating tricuspid regurgitation. (medicalalley.org)

In summary, since receiving the EIC Accelerator funding in June 2021, Innoventric Ltd. has achieved significant milestones, including substantial funding, successful clinical trials, and strategic team expansions, all contributing to its mission of transforming tricuspid regurgitation care.

4 The Technology Advancements

Innoventric Ltd, an Israeli medical device company founded in 2017, specializes in innovative transcatheter treatments for tricuspid regurgitation (TR), a complex and often under-treated heart valve condition. Since receiving the EIC Accelerator funding on June 16, 2021, Innoventric has made significant advancements across multiple dimensions of its technology and clinical development.

Current Capabilities and Technology

Innoventric is recognized as a leader in cross-caval technologies for TR treatment. Their proprietary approach involves implanting devices within the vena cava to manage valve insufficiency without directly replacing the tricuspid valve itself. The company holds a robust patent portfolio with multiple granted patents covering systems, methods, and devices specifically targeting tricuspid insufficiency.

The flagship product is Trillium™, described as the first-of-its-kind cross-caval device featuring multiple valves with a novel hinge design tailored to treat patients with large or tortuous anatomies. Alongside Trillium™, Innoventric developed:

• Koala™: A docking station enabling anchoring in both superior and inferior vena cavae to facilitate off-the-shelf valve placement; has been used compassionately in Europe.
• Unica™: An evolution aiming at treating smaller anatomies by featuring a bare metal center structure that allows future transseptal procedures or valve-in-valve interventions; also used compassionately in Europe and Canada.

Their design philosophy emphasizes data-driven innovation grounded deeply in clinical research to extend treatment reach while improving patient outcomes.

Advancements Since EIC Accelerator Funding

Since receiving EIC funding combined with Horizon Europe grants (€2.5M) around mid-2021, Innoventric has:

• Raised substantial additional capital through Series A ($14M including EU grants) and Series B rounds ($28.5M raised recently), bringing total financing over $41 million. These funds have supported device development from concept through clinical validation phases.
• Successfully completed their first-in-human (FIH) clinical trial of Trillium™ in Europe with excellent results reported from over 40 treated patients across FIH and compassionate use cases.
• Obtained FDA clearance to begin an Early Feasibility Study (EFS) of Trillium™ in the United States where patient enrollment is actively ongoing with initial US implantations already performed.
• Announced plans for further pivotal studies intended to secure broader regulatory approvals both within the US FDA pathway as well as European authorities using their expanded investment capital from recent funding rounds including new EU investments via EIC participation .

Technology Improvements & New Features

Post-EIC funding efforts have focused on refining existing technology while expanding indications:

• Development of Unica™, which builds upon Trillium™ by enabling treatment of smaller patient anatomies—thus broadening applicability.
• Continuous innovation underpinned by strong patent activity; several new patents were granted recently (e.g., June 2024 patent describing tubular members implanted within vena cava having circumferentially arranged valves designed for ventricular systole/diastole function).
• Use of advanced 3D modeling technologies such as Materialise Mimics software accelerated R&D processes allowing virtual implantations, optimized screening protocols, better pre-procedural planning leading up to bedside implantation success .

Market Demonstrations & Clinical Trials

Innoventric’s technology has moved beyond laboratory validation into real-world application:

• Over 40 patients treated worldwide including compassionate use cases primarily across Europe but also Canada.
• Completed FIH trials demonstrating safety/effectiveness.
• Active Early Feasibility Study underway under FDA regulation inside the US market validating technical performance alongside safety parameters at clinical sites where initial implants occurred successfully .

The company works closely alongside renowned cardiologists globally—including experts from Mayo Clinic—to ensure rigorous clinical affairs management supporting regulatory submissions and trial designs aimed at eventual full commercial approval.

Patents & Scientific Publications

Innoventric maintains an active intellectual property strategy demonstrated by numerous recent patents assigned related directly to their core cross-caval devices for TR treatment filed since before their EIC award but continuing into recent years—indicating ongoing technical development efforts post-funding. There are no publicly noted new scientific papers or whitepapers explicitly available online beyond press releases highlighting trial results.

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Summary Table

Aspect	Details
Core Capability	Cross-caval transcatheter devices treating TR - flagship: Trillium™, Koala™, Unica™
Post-EIC Funding Advances	Completed First-In-Human trials; active US Early Feasibility Study; $41M+ total funding
Tech Improvements	New product variant Unica™ for smaller anatomies; novel multi-valve hinge designs
Market Demonstrations	>40 patients treated globally including compassionate use & early feasibility studies
Patents Filing	Multiple granted patents post-EIC emphasizing improved valve mechanisms
Scientific Publications	No public new peer-reviewed studies found yet

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In conclusion, since winning EIC Accelerator funding on June 16th, 2021 Innoventric Ltd has substantially progressed technologically and clinically—from pioneering innovative cross-caval solutions like Trillium™, expanding indications via subsequent products like Unica™, completing successful human trials mainly outside but now also inside US markets—and securing significant follow-on investments supporting further commercialization efforts. Their growing patent portfolio underscores continuous refinement while ongoing early feasibility trials demonstrate market readiness advances toward broader adoption.

Sources:
https://innoventric.com/
https://en.globes.co.il/en/article-israeli-heart-medical-device-co-innoventric-raises-285m-1001492624
https://www.prnewswire.com/news-releases/israeli-medical-device-startup...
https://patents.justia.com/assignee/innoventric-ltd
https://www.materialise.com/ko/inspiration/cases/tricuspid-valve-replacement

5 The Partnerships and Customers

Since receiving EIC Accelerator funding in June 2021, Innoventric Ltd, an Israeli medical device company specializing in transcatheter solutions for tricuspid regurgitation (TR), has significantly advanced its partnerships, funding, and market positioning.

Partnerships and Customers

• Innoventric has collaborated with Materialise Medical to leverage 3D technology for accelerating the development and clinical application of its TR treatment devices. This partnership enables detailed patient screening, virtual implantation simulations, and procedure planning that have been integral from R&D to first-in-human trials in Europe.
• The company’s Series A funding round in November 2021 included a new European investor joining previous investors along with a US-based lead investor. These investors collectively support Innoventric's development of its Trillium™ technology for TR treatment.
• In October 2024, Innoventric raised $28.5 million in a Series B financing round led by RA Capital Management. Participation also came from the European Investment Committee (EIC), BRM Group, JG Private Equity, and Mivtach Shamir Holdings as returning investors.

Nature and Purpose of New Relationships

• The collaboration with Materialise Medical focuses on providing powerful digital tools such as Mimics software for visualization and virtual testing of devices before implantation. This enhances procedural confidence among physicians by enabling precise anatomical understanding tailored to each patient.
• Investor partnerships have primarily aimed at scaling clinical trials—both ongoing first-in-human trials in Europe—and pursuing expanded regulatory approvals across the US and Europe markets. These relationships provide financial resources critical for advancing product commercialization.

Market Positioning Impact

• The strategic investments allow Innoventric to position itself strongly as a leader innovating cross-caval approaches that simplify complex structural heart interventions like TR treatment. Their patented technologies—Trillium™, Koala™, Unica™—target broad patient populations including anatomies often overlooked by other therapies.
• Through these partnerships—with technology providers like Materialise enhancing device design validation—and robust financial backing from top-tier venture funds alongside EU institutions like EIC Horizon grants—the company is set to accelerate time-to-market while expanding geographic reach.

Technology Advancement & Scaling Benefits

• Access to advanced 3D modeling capabilities through Materialise accelerates iterative improvements on device design based on real clinical data feedback loops during trials.
• Funding influxes enable larger scale clinical studies required for regulatory clearances which are essential steps toward commercial adoption.

In summary, since winning EIC Accelerator funding mid-2021, Innoventric Ltd has built meaningful technological collaborations (notably with Materialise) while securing substantial investment rounds involving global healthcare financiers including the EIC itself. These developments empower it technologically through enhanced digital simulation tools and financially through capital expansion—to scale operations rapidly—thereby strengthening its competitive stance within innovative transcatheter solutions addressing tricuspid valve disease globally.

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Sources

https://innoventric.com https://www.nsmedicaldevices.com/company-news/innoventric-wins-14m-funding-technology-tricuspid-valve-regurgitation/ https://www.materialise.com/en/inspiration/cases/tricuspid-valve-replacement https://www.citybiz.co/article/619781/innoventric-raises-28-5m-series-b/

6 The Hiring and Company Growth

Innoventric Ltd, an Israeli medical device startup specializing in the treatment of Tricuspid Valve Regurgitation, has demonstrated significant growth and strategic development since receiving the EIC Accelerator funding on June 16, 2021.

Current Headcount and Team Size

Specific details regarding Innoventric's current headcount and team size are not publicly disclosed. However, the company's substantial funding rounds and ongoing clinical trials suggest a growing and dynamic team.

Hiring Status and Team Expansion

While exact numbers are not available, Innoventric's recent funding activities indicate a focus on team expansion. The $28.5 million Series B funding round, led by RA Capital Management and supported by the European Innovation Council, BRM Group, Mivtach Shamir Holdings Ltd, and JG Investment, is earmarked to advance clinical trials and expand regulatory approvals in the U.S. and Europe. (finsmes.com)

Growth and Key Positions

The Series B funding round, completed in October 2024, brings Innoventric's total funding to $41 million since its inception in 2017. This financial growth underscores the company's commitment to scaling its operations and enhancing its technological capabilities. The investment is intended to support the development of Innoventric's innovative cross-caval treatment for tricuspid regurgitation, a condition that disrupts heart function by impairing blood flow. (lucidityinsights.com)

Implications for Future Growth

The influx of capital from the Series B funding round is poised to accelerate Innoventric's clinical trials and regulatory processes, particularly in the U.S. and European markets. This strategic expansion is expected to bolster the company's presence in the global medical device sector, facilitating the broader adoption of its Trillium™ technology. The additional resources will likely enable Innoventric to attract top-tier talent, enhance research and development efforts, and strengthen its market position.

Management and Founding Team Developments

As of the latest available information, there are no publicly reported major changes in Innoventric's management or founding team. The company's leadership, including CEO Amir Danino and Co-founder Rafi Benary, continues to drive its strategic initiatives and growth trajectory.

In summary, Innoventric Ltd has exhibited substantial growth and strategic development since receiving the EIC Accelerator funding in June 2021. The company's successful funding rounds and ongoing clinical trials reflect its commitment to innovation and expansion in the medical device industry.

7 The Media Features and Publications

Innoventric Ltd, an Israeli medical device company specializing in transcatheter treatments for tricuspid regurgitation, has garnered significant attention since receiving EIC Accelerator funding on June 16, 2021. The company's innovative approach to heart valve replacement has been highlighted in various media outlets, publications, and industry events.

Media Features and Publications:

Since June 2021, Innoventric Ltd has been featured in several reputable publications:

• Calcalist CTech: On October 29, 2024, Innoventric secured $28.5 million in Series B funding to advance its cross-caval technology for treating tricuspid regurgitation. (calcalistech.com)
• Globes: The same funding round was reported on October 29, 2024, detailing the participation of RA Capital Management, the European Investment Committee (EIC), and other investors. (en.globes.co.il)
• PR Newswire: On November 1, 2021, Innoventric announced winning the Horizon Europe Grant and securing $14 million in Series A investment, highlighting the company's rapid progress and innovative technology. (prnewswire.com)
• Medical Device News Magazine: The same announcement was covered on November 1, 2021, emphasizing Innoventric's unique approach to tricuspid valve replacement. (infomeddnews.com)
• My News Journal: On November 1, 2021, the publication highlighted Innoventric's achievement in winning the Horizon Europe Grant and securing Series A investment. (mynewsj.com)

Podcasts and Interviews:

As of April 18, 2025, there are no publicly available records of Innoventric Ltd's team participating in podcasts or interviews since June 16, 2021.

Conference and Fair Participation:

Specific details regarding Innoventric Ltd's participation in conferences, fairs, or presentations since June 16, 2021, are not readily available in the provided sources.

Event Involvement:

Information about Innoventric Ltd's involvement in events since June 16, 2021, is not explicitly detailed in the available sources.

For more comprehensive and up-to-date information, visiting Innoventric Ltd's official website at innoventric.com or consulting industry-specific databases and news outlets is recommended.