1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC (European Innovation Council) Accelerator program is a pivotal initiative designed to support innovative startups and small to medium-sized enterprises (SMEs) within the European Union. The program aims to foster the growth of groundbreaking technologies and innovations that can significantly impact various industries, particularly in the DeepTech sector. The EIC Accelerator provides funding through a combination of grants and equity investments, thereby enabling companies to develop and scale their innovative solutions effectively.

Funding Structure

The EIC Accelerator offers substantial financial support through a dual funding structure:

Purpose and Impact on the Ecosystem

The EIC Accelerator serves as a catalyst in the European DeepTech and startup ecosystem. Its primary purpose is to:

• Support Innovation: By funding high-risk, high-potential projects, the program encourages the development of novel solutions that address pressing societal challenges.
• Enhance Competitiveness: The EIC Accelerator boosts the competitiveness of European startups on a global scale, ensuring they can compete with leading innovators worldwide.
• Facilitate Market Entry: By providing the necessary funding and resources, the program helps companies navigate the complexities of market entry, thereby accelerating the time to market for innovative products.
• Encourage Private Investment: The equity component of the funding structure is designed to attract further investments from private sectors, thereby amplifying the impact of the initial funding and ensuring sustainable growth.

Case Study: MiMARK Diagnostics and the WomEC Project

Company Overview: MiMARK Diagnostics, S.L. is a Spanish company focused on advancing healthcare technologies, particularly in women's health. Their innovative approach centers on understanding gynecological fluids, which has significant implications for diagnosing and monitoring women's health conditions.

Project Overview - WomEC: The WomEC project is an ambitious initiative that aims to reshape women's health through the development of an antibody-based in vitro diagnostic (IVD) test. This test is based on five novel protein biomarkers that are quantified in liquid biopsies—a minimally invasive procedure that offers a wealth of information about a patient’s health status.

Technology Background: The WomEC project leverages advanced immunological techniques to identify and measure specific protein biomarkers present in gynecological fluids. These biomarkers are indicative of various health conditions, including cancers and reproductive health issues. By focusing on liquid biopsies, the project minimizes discomfort and risk for patients, while providing accurate and timely diagnostic information.

The technology involves sophisticated antibody-based assays that can detect and quantify these biomarkers with high specificity and sensitivity. The goal is to create a reliable, easy-to-use test that healthcare providers can implement in various clinical settings, ultimately improving patient outcomes through early detection and personalized treatment strategies.

Funding Journey: MiMARK Diagnostics submitted their Step 2 proposal for the EIC Accelerator program on March 22, 2023, and subsequently won in the Step 3 interview, showcasing the project's potential and alignment with the EIC’s mission to support high-impact innovations.

Conclusion

The EIC Accelerator program plays a crucial role in nurturing the European innovative landscape, particularly in the DeepTech sector. By providing significant funding opportunities through grants and equity investments, it empowers companies like MiMARK Diagnostics to develop groundbreaking solutions that address critical health issues. The WomEC project exemplifies the transformative potential of such innovations in reshaping women's health diagnostics, underscoring the EIC Accelerator's impact on fostering innovation and attracting private sector investments.

2 The Funding Rounds

MiMARK Diagnostics, S.L. — Financing and Funding Events Since EIC Accelerator Award

Overview

MiMARK Diagnostics, S.L., a Spanish femtech spin-off focused on gynecological diagnostics, notably endometrial cancer detection through its WomEC test, has raised significant capital since winning the EIC Accelerator funding in March 2023. This report details all identified financing rounds, their timing and amounts, investor participation (where available), and any information related to company valuation or exit events.

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Financing Raised & Funding Rounds

• In November 2023, MiMARK Diagnostics closed its first seed funding round totaling €4.22 million.
• The European Innovation Council (EIC) Accelerator contributed €2.5 million to this seed round as part of the grant received from the March 2023 cohort.
• Prior to closing the larger seed round, MiMARK announced an earlier investment of €1 million in June 2023 aimed at accelerating development of its WomEC diagnostic product. Whether this earlier amount is part of or separate from the total €4.22 million is not explicitly clarified in public sources.

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Timing and Amounts of Funding Rounds

Date	Round	Amount Raised	Notable Investors / Participants
June 2023	Pre-seed/Seed	€1M	Not specified; enabled acceleration of WomEC development
November 2023	Seed	€4.22M	EIC Accelerator (€2.5M); others not disclosed

It is unclear if the June investment was a distinct pre-seed or constitutes an initial tranche within the later-declared seed round.

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Investor Information

• The most prominently disclosed investor is the European Innovation Council (EIC) via its Accelerator program (€2.5M grant).
• No detailed list of other investors participating in either funding event has been made publicly available as of May 2025.
• Company press materials emphasize public funding sources but do not specify private venture capital firms or angel investors by name.

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Company Valuation

No explicit data regarding post-money valuations for these rounds has been released through public channels up to May 2025.

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Exit Events: IPOs, Buyouts & Acquisitions

As of May 2025:

• There are no reports or announcements indicating that MiMARK Diagnostics has undergone an initial public offering (IPO), been acquired by another entity, or completed any buyout transactions.
• The company remains privately held with ongoing product development milestones anticipated through late 2025.

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Summary Table

Event	Date	Details
EIC Accelerator Award	Mar 22, 2023	Won Step 2 proposal; awarded €2.5M
Initial Public Investment	Jun 7, 2023	Raises additional €1M
First Seed Round Closed	Nov/Dec 27/28?,  ~Nov 27 announcement?	Total raised: €4.22M including EIC award
Latest Status	May 05, 2025	Privately held; no IPO/buyout/acquisition reported

Timing overlaps between investments may indicate staged disbursement rather than distinct rounds.

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Sources

• MiMARK Diagnostics closes first seed round with €4.22 M
• MiMARK Diagnostics raises €1M to accelerate development
• MiMARK Diagnostics – Official Website
• MiMARK Diagnostics successfully Closes First Seed Round with EUR4 Million

3 The Press Releases

MiMARK Diagnostics: Post-EIC Accelerator Funding Developments MiMARK Diagnostics, a Barcelona-based femtech spin-off from the Vall d’Hebron Research Institute (VHIR), secured €2.5 million in June 2023 through the European Innovation Council (EIC) Accelerator program. The funding, part of a competitive call involving 551 applicants, supported the development of WomEC, an antibody-based in vitro diagnostic test for endometrial cancer that identifies five novel protein biomarkers in uterine fluid.

Key Updates Since EIC Funding

• Total Funding: Combined with earlier investments, including a €4.22 million seed round announced in November 2023, MiMARK has raised over €6.7 million to date. The EIC grant formed part of this seed round, accelerating product development and market entry.
• Product Progress: WomEC advanced to prototype verification and validation stages post-funding, positioning it as a non-invasive alternative to traditional biopsy methods for endometrial cancer detection.
• Backing: Investors include Clave Capital, Nara Capital, Namarel Ventures, and WA4Steam’s “Business Angels” network. Public grants such as EIT Health Wild Card 2020 and CDTI Neotec Women further bolstered R&D efforts.

While no specific patents or social media announcements are detailed in available records, MiMARK’s focus remains on commercializing WomEC and expanding its impact on women’s health diagnostics.

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Sources

• MiMARK Diagnostics receives €2.5 M from the European Innovation Council Accelerator
• EIC Accelerator March 22 Cutoff Results (PDF)
• MiMARK closes first seed round with €4.22 M
• Catalonia Health News coverage

4 The Technology Advancements

MiMARK Diagnostics, S.L. from Spain: Recent Advancements

MiMARK Diagnostics, S.L., a pioneering femtech company based in Spain, specializes in developing innovative in vitro diagnostic solutions for gynecological diseases. Following their successful application for the EIC Accelerator funding in March 2023, the company has made significant strides in advancing its technology and market presence.

Current Capabilities

MiMARK Diagnostics focuses on using gynecological fluids as a non-invasive source for biomarker detection, aiming to transform gynecological diagnostics. Their flagship product, WomEC, is an in vitro diagnostic test for endometrial cancer, which is currently in the last stage of prototyping and moving towards verification and validation stages.

Advancements Since EIC Accelerator Funding

Since receiving the EIC Accelerator funding, MiMARK Diagnostics has raised a total of €4.22 million in a seed funding round. This substantial investment includes €2.5 million from the EIC Accelerator and contributions from private investors such as Clave Capital, Nara Capital, and Namarel Ventures. This funding is crucial for advancing WomEC's development and clinical validation, which are expected to conclude by the end of 2025.

Technology Improvements and New Features

MiMARK's approach positions gynecological fluid as a key component in the next phase of liquid biopsy in gynecology, offering a minimally invasive method for diagnosing gynecological diseases. While specific new features or technology improvements have not been detailed since the funding, the company's commitment to innovation and scientific excellence suggests ongoing refinement of their diagnostic tools.

Market and Clinical Trials Demonstration

There is no specific information available on whether MiMARK Diagnostics has demonstrated their technology in the market with customers, demonstrators, or pilots since receiving the EIC Accelerator funding. However, their focus on advancing WomEC towards clinical validation indicates significant progress in preparing for real-world application.

Patents, Scientific Studies, and Clinical Trials

As of the latest updates, there is no published information on new patents filed by MiMARK Diagnostics or the publication of new scientific studies or clinical trials results since the EIC Accelerator funding. However, their participation in various innovation and funding initiatives highlights their active engagement in advancing their diagnostic solutions.

Recognition and Awards

MiMARK Diagnostics has received several notable awards, including the Extraordinary Price in Health Technologies by the Fundación para la Excelencia y la Calidad de la Oncología (ECO) in 2022 and being recognized as one of Spain's most innovative companies. These recognitions underscore their impact on improving women's health through innovative diagnostics.

Sources: - Mimark - Discovering new biomarkers for Women's Health

• Femtech company raises €4.22m to improve gynaecological diagnostics
• MiMARK Diagnostics closes first seed round with €4.22 M to impact gynecological diagnostics
• MiMARK Diagnostics raises €1M to accelerate development of in vitro diagnostic test for endometrial cancer
• Endometrial Cancer Diagnostics Company MiMARK Secures €4.22 Million
• MiMARK Diagnostics receives €2.5 M from the European Innovation Council Accelerator
• MiMARK Diagnostics, S.L. successfully Closes First Seed Round with €4.22 Million to Impact on Gynecological Diagnostics
• EIT Health invests €3M in cancer and Parkinson's

5 The Partnerships and Customers

MiMARK Diagnostics, S.L.: Partnerships and Developments Post EIC Accelerator Funding

MiMARK Diagnostics, S.L., a pioneering femtech company based in Spain, successfully secured €4.22 million in seed funding in 2023. This investment marked a significant milestone in the company's mission to transform gynecological diagnostics, particularly focusing on endometrial cancer and leveraging gynecological fluids for biomarkers.

Partnerships and Customers

Key Partners and Investors:

• EIC Accelerator (European Innovation Council): Contributed significantly with €2.5 million, demonstrating their support for innovative startups like MiMARK.
• Private Investors: Clave Capital, Nara Capital, Namarel Ventures, and WA4STEAM were early investors, while CDTI Innvierte, Inveready, and Canterbury Scientific joined later.
• Advisors: The company is advised by notable figures such as Helene Peyro-Saint-Pau, Ramón Benet, Javier F. Magriña, Frederic Amant, and Denis Querleu.

New Partnerships: As of the latest information, MiMARK has not announced new partners beyond those involved in the seed funding. However, the company aims to strengthen collaborations with leading institutions and industry partners to advance gynecological diagnostics.

Customers: Specific customer names are not disclosed, but the company targets healthcare professionals and institutions in its mission to improve women's health through innovative diagnostics.

Nature of Relationships and Purpose

The relationships established by MiMARK are primarily aimed at advancing its diagnostic solutions. The funding and partnerships are focused on bringing its flagship product, WomEC—an in vitro diagnostic test for endometrial cancer—to the market. The company also plans to expand research into other gynecological conditions, such as endometriosis.

Impact on Market Position and Technology Advancements

MiMARK's partnerships and funding will enhance its market position by:

• Accelerating Product Development: The new funding will drive the verification and clinical validation of WomEC, moving it closer to market launch.
• Scaling Operations: The investment will support expanding research and development efforts, allowing MiMARK to address more unmet clinical needs in gynecological health.
• Technology Advancements: By leveraging gynecological fluids as a source of biomarkers, MiMARK is pushing the boundaries of liquid biopsy technology in gynecology, potentially leading to more accurate and less invasive diagnostic methods.

In summary, MiMARK Diagnostics, S.L. has positioned itself as a leader in gynecological diagnostics through strategic partnerships and funding. These relationships are crucial for advancing its innovative diagnostic solutions, enhancing its market presence, and contributing to significant technological advancements in women's health.

Sources

• Mimark
• MiMARK Diagnostics, S.L. successfully Closes First Seed Round
• MiMARK Diagnostics closes first seed round with €4.22 M
• MiMARK Diagnostics, S.L.
• Gynecological Health Startup MiMARK Secures €4.22M in Seed Funding
• CataloniaBio & HealthTech

6 The Hiring and Company Growth

MiMARK Diagnostics, S.L. - Team Growth and Development

Since receiving the EIC Accelerator funding in March 2023, MiMARK Diagnostics has been focused on transforming gynecological diagnostics through innovative in vitro diagnostic solutions. The company, based in Spain, is led by founders Marina Rigau (CEO), Eva Colás (CSO), and Antonio Gil (CMO).

Current Headcount and Team Size

While the exact current headcount is not publicly disclosed, MiMARK has a committed team that includes several key positions: Todd Snowden (CBO), Cristina Vilarmau (Innovation Manager), Nuria Palomar (RA & QA Manager), Roger Canton (Clinical Manager), Andreas Avgousti (Grant Manager), María de Martí (CTO), Javier Carvajal (Industrial Ph.D. Student), Astrid Garcia (Senior Lab Technician), Laia Escalé (Biobank technician), Luciano Sappia (Senior Scientist), Leandro Radusky (Data Analyst), and Loli Fernández (Senior Technician).

Hiring Status

There is no specific information available about whether MiMARK is currently hiring. However, given their focus on developing new diagnostics, especially for endometrial cancer, it is likely that they may be expanding their team to meet these goals.

Team Growth

MiMARK's growth can be seen in their strategic development of diagnostic solutions and their recent funding achievements. For instance, in June 2023, the company raised €1 million to accelerate the development of an in vitro diagnostic test for endometrial cancer, marking significant progress in their mission to improve gynecological diagnostics.

Key Positions

Recent key team members include Marina Rigau, Eva Colás, and Antonio Gil as founders. Other notable positions are held by Todd Snowden and María de Martí, who play crucial roles in business and technology development.

Impact on Future Growth

The addition of new team members and the funding secured by MiMARK will be instrumental in scaling and growing the company. These resources enable them to advance their diagnostic solutions, particularly their flagship product WomEC, which aims to provide a less invasive method for diagnosing endometrial cancer. This focus on minimally invasive diagnostics using gynecological fluids positions MiMARK for significant future growth in the field of women's health.

Management and Founding Team Changes

There are no reported major changes in the management or founding team of MiMARK Diagnostics since they received the EIC Accelerator funding.

Conclusion

MiMARK Diagnostics is poised for growth, leveraging its innovative approach to gynecological diagnostics and strategic team development. Their focus on improving diagnostics for diseases like endometrial cancer places them at the forefront of advancements in women's health.

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Sources: - MiMARK - Discovering new biomarkers for Women's Health

MiMARK Diagnostics raises €1M to accelerate development of in vitro diagnostic test for endometrial cancer

7 The Media Features and Publications

Media Features and Public Recognition of MiMARK Diagnostics, S.L. Since receiving €2.5 million from the European Commission’s EIC Accelerator in March 2023, MiMARK Diagnostics has gained visibility for its work in transforming gynecological diagnostics. The company’s flagship project, WomEC, aims to revolutionize endometrial cancer detection through liquid biopsies using gynecological fluids. Key highlights include:

• Media Coverage: Featured in FemTech Insider for its €1.5 million EIT Health funding and diagnostic advancements, as well as sector analyses discussing gender disparities in healthcare innovation.
• Awards: Recognized with the STEM Women Congress Award (2022), Women Startup Awards (2022), and e-llas Innovation Hub by GSK (2024). The company also won pitch competitions at events like the Gender Gap in Investment Event (2024).

Publications Mentioning MiMARK Diagnostics
While direct publication titles are not provided, MiMARK is frequently cited in industry reports and news articles focusing on FemTech innovation. Examples include discussions about its participation in EIT Health programs and analyses of gender gaps in healthcare investment.

Podcasts or Interviews
Though no specific podcasts are listed, co-founder Marina Rigau has been quoted extensively at events such as EIT Health’s session on closing healthcare gender gaps. She emphasized FemTech’s market potential and diagnostic challenges during these appearances.

Conference Participation and Presentations
MiMARK actively engages in high-profile events:

• Pitch Competitions: Notable wins include the Agnes Guerraz Prize by EIT Health (2023) and inclusion among 100 startups selected to pitch at international conferences.
• Sector Events: Represented at forums addressing women’s health innovation, including panels moderated by Ángeles Barrios of EIT Health Spain.

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Sources

• Mimark - Discovering new biomarkers for Women's Health
• Closing the gender gap in healthcare
• Spain-based Endometrial Cancer Diagnostics Company MiMark
• Barcelona Science Park companies receive €85.4 million