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SolasCure Limited

SolasCure Limited Secures EIC Accelerator Funding for Innovative Aurase Wound Gel Development

United KingdomEIC Accelerator2023

Table of Contents

  1. The EIC Accelerator Project
  2. The Funding Rounds
  3. The Press Releases
  4. The Technology Advancements
  5. The Partnerships and Customers
  6. The Hiring and Company Growth
  7. The Media Features and Publications

1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is a significant initiative designed to support small and medium-sized enterprises (SMEs), particularly those in the deep tech sector, by providing funding and business development assistance. The program is part of the EIC's broader mission to foster innovation and competitiveness within the European Union. It aims to facilitate the commercialization of breakthrough innovations, thereby enhancing the startup ecosystem across Europe.

Funding Structure

The EIC Accelerator program offers a dual funding mechanism comprising grants and equity investments:

1. Grant Funding: Eligible companies can receive a grant of up to €2.5 million. This funding is primarily aimed at covering the costs associated with developing and scaling innovative products or services.
2. Equity Investment: The EIC Accelerator also provides equity financing, with amounts up to €15 million available until 2024. Since 2025, this equity cap has been reduced to €10 million. This investment is intended to support companies in achieving significant milestones and scaling their operations, enabling them to attract additional private sector funding.

Purpose and Role in the Ecosystem

The EIC Accelerator serves multiple purposes within the European deep tech and startup ecosystem:

  • Innovation Support: By providing financial resources, the program encourages innovative companies to develop cutting-edge technologies that can address pressing societal challenges.
  • Scaling Potential: The funding helps startups scale their operations, thus positioning them to compete effectively in global markets.
  • Private Sector Alignment: The EIC Accelerator aims to bridge the gap between early-stage innovation and the private sector. By providing substantial funding, it enables startups to demonstrate their potential and attract further investment from venture capitalists and other private investors.

EIC Accelerator Winner: SolasCure Limited

SolasCure Limited, a company based in the United Kingdom, emerged as a notable winner of the EIC Accelerator program with its project titled Aurase Wound Gel. The Step 2 proposal was submitted on June 21, 2023, followed by a successful Step 3 interview.

Project Overview: Aurase Wound Gel

Aurase Wound Gel is an innovative medical product designed to address the challenge of chronic wounds, which affect millions of patients worldwide. The gel leverages principles of biomimicry and evidence-based medicine to create an effective treatment solution.

Technology Basics and Background

Chronic Wounds: Chronic wounds, such as diabetic ulcers and pressure sores, often result from underlying health conditions and can lead to serious complications, including infections and amputations. Traditional wound care treatments often fall short, necessitating the development of new, effective solutions.

Biomimicry: Aurase Wound Gel draws inspiration from natural processes that promote healing. By mimicking biological functions, the gel enhances the wound healing environment, promoting tissue regeneration and reducing inflammation.

Evidence-Based Medicine: The formulation of Aurase is grounded in rigorous scientific research. The development process involved extensive clinical trials to ensure efficacy and safety for patients. This evidence-based approach not only establishes the gel's credibility but also aligns with regulatory requirements, making it a viable product for healthcare providers.

Mechanism of Action: The gel works by creating a moist wound environment, which is critical for effective healing. It contains bioactive compounds that facilitate cellular activities essential for tissue regeneration. Additionally, the formulation aims to prevent infection while promoting the natural healing processes of the body.

By addressing the complex challenges associated with chronic wounds, Aurase Wound Gel stands to significantly improve patient outcomes and reduce healthcare costs. The support from the EIC Accelerator is poised to enable SolasCure Limited to further develop and commercialize this groundbreaking product, ultimately contributing to advancements in wound care and patient treatment.

In summary, the EIC Accelerator program plays a crucial role in empowering innovative companies like SolasCure Limited to make significant strides in medical technology, thereby enhancing the overall health and well-being of patients in Europe and beyond.

2 The Funding Rounds

# SolasCure Limited: Funding History and Financial Overview

SolasCure Limited, a Cambridge-based biotech company focused on developing innovative solutions for chronic wound care, has successfully secured multiple funding rounds since its founding. The company has received significant investment to develop its groundbreaking technology, Aurase Wound Gel, which contains a recombinant enzyme cloned from maggots.

EIC Accelerator Grant

In November 2023, SolasCure was awarded the prestigious European Innovation Council's Accelerator Grant. This highly competitive funding opportunity saw 648 submissions from companies across Europe, with SolasCure being one of only 47 companies selected for funding, and one of just three based in the UK. The collective funding pool for these companies amounted to nearly €350 million.

SolasCure received €2.5 million in grant funding from the EIC Accelerator program. This funding is intended to support the development of their proprietary technology, Aurase Wound Gel, which aims to revolutionize chronic wound care through biomimicry and evidence-based medicine.

Major Funding Rounds

Series A Funding - October 2021

SolasCure successfully completed its Series A investment round in October 2021, raising £15 million. This funding came from a combination of industry veterans, institutional venture capital, and strategic investors. The Series A round was intended to help the company move into the clinical trial stages of product development for Aurase.

BRAIN Biotech AG, which is SolasCure's largest shareholder, was among the investors in this round. Adriaan Moelker, CEO of BRAIN Biotech AG, noted that SolasCure had successfully closed this financing round with a rising pre-money valuation despite the challenges of the pandemic.

March 2023 Funding Round

On March 27, 2023, SolasCure secured £10.9 million in a funding round led by returning investor Seneca Partners Limited. Other participants in this round included:

  • Wealth Club Limited
  • BRAIN Biotech AG (returning investor)
  • Eva Pharma Consultants Ltd (returning investor)
  • Jonathan Milner

Additional Grant Funding

In addition to the EIC Accelerator Grant, SolasCure has received other grants:

  • In March 2024, the company received a £405,000 grant from Innovate UK
  • The company's total funding to date amounts to approximately €34.1 million

Investor Information

SolasCure has attracted investment from various sources, including:

1. BRAIN Biotech AG - The company's largest shareholder, which has participated in multiple funding rounds
2. Seneca Partners Limited - Led the March 2023 funding round of £10.9 million
3. Eva Pharma Consultants Ltd - Returning investor in the March 2023 round
4. Wealth Club Limited - Participated in the March 2023 funding round
5. Jonathan Milner - Individual investor who participated in the March 2023 round
6. European Innovation Council Fund - Provided the €2.5 million EIC Accelerator Grant
7. Innovate UK - Provided a £405,000 grant in March 2024

Company Valuation

While specific valuation figures are not directly provided in the available information, there is an indication that SolasCure's pre-money valuation increased during the Series A funding round in October 2021, as mentioned by BRAIN Biotech AG's CEO. The exact valuation figures, however, are not disclosed in the search results.

Current Status

As of May 2025, there is no information in the search results about any exit events such as IPOs, buyouts, or acquisitions involving SolasCure Limited. The company appears to be continuing its development of Aurase Wound Gel and advancing through clinical trials with the support of its various funding sources.

SolasCure remains focused on leveraging biomimicry and evidence-based medicine to develop solutions for chronic wounds, with its flagship product Aurase Wound Gel positioned as a potentially revolutionary technology in wound care.

Sources: - SolasCure Awarded Prestigious European Innovation Council's Accelerator Grant

3 The Press Releases

SolasCure's Post-EIC Accelerator Milestones and Innovations Cambridge-based biotech firm SolasCure Limited secured €349 million collectively with 46 other companies under the June 2023 EIC Accelerator funding round, earmarked to advance its Aurase Wound Gel, a recombinant enzyme-based therapy cloned from medical maggots for chronic wound debridement.

Key Developments Since Funding:

  • Clinical Trial Progress: Final patient enrollment in its pivotal multi-national trial (UK, US, Hungary) occurred in early 2023, with results anticipated later that year. The trial evaluates safety and efficacy of Aurase Wound Gel for enzymatic debridement.
  • Preclinical Validation: Published toxicology and preclinical data in the International Wound Journal demonstrated the gel’s ability to safely remove necrotic tissue without systemic toxicity.
  • Industry Recognition: Named a 2023 UK Life Sciences Innovator by the Department for International Trade (Biopharma & Vaccines category), highlighting its potential to address global chronic wound challenges.

The company’s focus remains on leveraging biomimicry to commercialize Aurase Wound Gel, targeting unmet needs in chronic wound care markets.


Sources
SolasCure Awarded Prestigious European Innovation Council’s Accelerator Grant
SolasCure Announces Publication of Toxicology and Pre-clinical Research Programme
SolasCure Named a UK Life Sciences Innovator 2023

4 The Technology Advancements

SolasCure Limited: Post-EIC Accelerator Funding Advancements Since securing the European Innovation Council’s (EIC) Accelerator Grant in late 2023 (announced November 2023, with competition submissions likely preceding the June 2023 cutoff), SolasCure has achieved significant milestones in developing its lead product, Aurase Wound Gel. Below are key advancements:

Technological Improvements

  • Product Optimization: Received a £405K Innovate UK Biomedical Catalyst Grant in March 2024 to enhance ambient temperature stability and release kinetics of Aurase Wound Gel, ensuring optimal enzyme delivery during treatment.
  • Global Incubator Programme: Selected for Innovate UK’s Houston-based program (June 2024) to refine commercialization strategies for the U.S. market, focusing on customer discovery and reimbursement pathways.

Clinical and Market Demonstrations

  • Phase IIa Trial Publication: Peer-reviewed results published in March 2024 demonstrated proof-of-concept and safety of Aurase Wound Gel in chronic wound patients.
  • Phase II CLEANVLU2 Trial Initiation: Enrolled first patient in March 2025 for a randomized controlled trial testing higher Tarumase concentrations in venous leg ulcers. This builds on prior Phase IIa success, aiming to validate efficacy across wound bed preparation metrics.

Intellectual Property and Scientific Outputs

While no new patents are explicitly mentioned post-EIC funding:
  • Peer-Reviewed Studies: Published Phase IIa data in the International Wound Journal (March 2024), reinforcing clinical credibility.
  • Collaborative Research: Partnered with the U.S. Army Institute of Surgical Research (November 2024) to explore combat wound care applications.

Strategic Recognition and Partnerships

  • Awards: Named a UK Life Sciences Innovator by the Department for International Trade (February 2023) and awarded additional grants from Innovate UK/EIC totaling ~€350 million across cohorts.

  • Sources Used (Chronological Order)

    1. SolasCure: HOME | Collaborations, awards, trial updates [March–November 2024]
    2. SolasCure Enrols First Patient... | Phase II trial initiation [March 17, 2025]
    3. Innovate UK Global Incubator Programme | Market-entry strategy [June 3, 2024]
    4. Innovate UK Biomedical Catalyst Grant | Funding details redirected from IPT Online article [March–June references]
    5. [Primary Source] – IPT Online: £405K Grant AnnouncementProduct optimization specifics [March 20, 2024]
    6. [Primary Source] – Life Sciences Europe: SolasCure EIC Accelerator DetailsGrant context & competitive landscape
    7.UK Life Sciences Innovator Award(February 16,)| DIT Recognition Announcement 8.Phase IIa Clinical Data Publication(BusinessWire,)|[Peer-reviewed study link via BusinessWire] 9.European Innovation Council Context(October 30,)|[EIC Funding Round Overview] 10.Phase II CLEANVLU2 Trial Details(Clinical Trials Arena,)|[Trial Design & Objectives]Updated March 18, 11.Additional company page references:News Section,SolaScuresite(,,)

    (Note: Dates reflect announcement timestamps; clinical trials may span multiple years.)*

    5 The Partnerships and Customers

    Overview of SolasCure Limited

    SolasCure Limited, a biotechnology company based in the United Kingdom, has been making significant strides in the wound care sector since receiving the EIC Accelerator funding in June 2023. The company is particularly noted for its innovative approach to wound debridement using enzymes derived from medical maggots, encapsulated in its flagship product, Aurase Wound Gel.

    Partnerships and Collaborations

    SolasCure has established several notable partnerships that highlight its growth and commitment to advancing wound care technologies:

    • Investment Partners: SolasCure has received substantial funding from Seneca Partners, BRAIN Biotech AG, EVA Pharma, and other investors. In March 2023, it secured £10.9 million in a Series B funding round, which included participation from returning investors like BRAIN Biotech AG and EVA Pharma Consultants Ltd.
    • U.S. Army Partnership: Recently, SolasCure partnered with the U.S. Army Institute of Surgical Research to evaluate Aurase Wound Gel for managing and promoting healing in combat wounds. This collaboration aims to improve wound care solutions in challenging combat situations.

    Customers and Market Positioning

    While specific customer names are not detailed, SolasCure primarily serves healthcare providers, including hospitals, clinics, and wound care specialists. Its business model focuses on the sale of advanced wound care products and potential partnerships with other medical and biopharma companies.

    New Relationships and Impact

    These new partnerships and collaborations position SolasCure Limited as a leader in innovative wound care technologies, leveraging both financial support and strategic alliances to enhance its market presence. The partnerships with key investors and the U.S. Army will help SolasCure advance its research and development, particularly in scaling up the production and clinical trials of Aurase Wound Gel. Furthermore, these collaborations will aid in technology advancements by facilitating access to cutting-edge research facilities and expertise, which is essential for refining its products for diverse applications, including combat medicine.

    Market Advancement and Scaling

    SolasCure's focus on developing effective wound debridement solutions aligns with the growing demand for advanced wound care technologies globally. The wound care market is projected to expand significantly, driven by technological advancements and an increasing prevalence of chronic conditions. By securing strategic partnerships and investments, SolasCure is well-positioned to capitalize on this trend, enhancing its capabilities in both technology development and market scaling.

    Conclusion

    In summary, SolasCure Limited's strategic partnerships and collaborations have been instrumental in its growth and development since receiving the EIC Accelerator funding. These relationships not only provide financial support but also offer avenues for technological innovation and market expansion, solidifying SolasCure's position as a pioneering force in the wound care sector.

    Sources

    6 The Hiring and Company Growth

    SolasCure Limited: Team Growth and Development

    SolasCure Limited, a UK-based biotechnology company specializing in chronic wound care, has been making significant strides since receiving the EIC Accelerator funding in June 2023. While specific details about the company's current headcount and team size are not publicly disclosed, SolasCure has been enhancing its leadership team and bolstering its capabilities to accelerate the development of its flagship product, Aurase Wound Gel.

    Team Composition and Recent Developments

    SolasCure's executive team includes experienced professionals such as Lee Harle, Chief Executive Officer, who has extensive experience in life-science venture building and commercialization. Andy Weymann, MD, serves as the Chairman, bringing over 25 years of experience in the medical device and biopharma sectors. David Fairlamb, the Chief Development Officer, contributes significant expertise in wound care development and regulatory affairs.

    In recent times, SolasCure has not publicly announced specific new hires or major changes in its founding team. However, the collaboration with the U.S. Army Institute of Surgical Research in November 2024 indicates a strategic expansion of its research capabilities, potentially involving new personnel or partnerships.

    Hiring and Growth

    There is no explicit information available on whether SolasCure is currently hiring. However, the company's involvement in significant partnerships and ongoing clinical trials suggests a need for specialized talent to support its growth. The company's ability to attract funding and collaborate with prestigious institutions like the U.S. Army Institute of Surgical Research underscores its potential for expansion and hiring in the future.

    Impact of New Team Members and Partnerships

    The addition of new team members and partnerships is crucial for SolasCure as it scales its operations. These additions will help in accelerating the development and commercialization of Aurase Wound Gel, which is poised to transform chronic wound care. The strategic collaboration with the U.S. Army highlights the potential of Aurase Wound Gel in managing combat wounds, further solidifying its position in the wound care market.

    Future Prospects

    SolasCure's future prospects are promising, given its innovative approach to wound care and its recognition as a leader in the biotech industry. The company's advancements in enzymatic debridement technology and its participation in significant clinical trials position it well for growth and expansion. The EIC Accelerator funding and recent partnerships have provided SolasCure with the resources needed to drive its mission forward, potentially leading to increased hiring and team growth as it scales its operations.

    Management and Founding Team Changes

    There are no publicly disclosed changes in SolasCure's management or founding team. However, the company's board includes notable figures such as Adriaan Moelker, CEO of BRAIN Biotech AG, indicating a strong and stable leadership structure.

    Conclusion

    SolasCure Limited is focused on transforming chronic wound care with its innovative Aurase Wound Gel. While specific details about its current team size and hiring status are not available, the company's strategic partnerships and funding indicate potential for future growth and expansion.


    Sources:

    7 The Media Features and Publications

    SolasCure Limited: A Pioneer in Chronic Wound Care

    Media Features

    SolasCure, a Cambridge-based biotechnology company, has been extensively featured in media outlets for its innovative approach to chronic wound care. The company's product, Aurase Wound Gel, is an enzymatic debrider inspired by the natural healing properties of maggots. Recent media coverage highlights SolasCure's receipt of the European Innovation Council's Accelerator Grant and its selection for the Innovate UK Global Incubator Programme in Houston, Texas.

    Publications

    Several publications have named SolasCure Limited, focusing on its groundbreaking work in developing Aurase Wound Gel. A notable publication includes a Phase IIa clinical trial report demonstrating the gel's safety and efficacy in treating chronic wounds. Additionally, SolasCure's research has been highlighted in discussions about the potential of enzymatic debridement in wound care.

    Content from Publications

    Publications emphasize SolasCure's role in advancing wound care with Aurase Wound Gel, which contains the enzyme tarumase. This enzyme selectively breaks down non-viable tissue, promoting healing and disrupting bacterial biofilms without causing pain or systemic side effects. The publications also underscore the need for effective chronic wound treatments, as current methods often fall short.

    Podcasts and Interviews

    There is no specific information available about podcasts or interviews featuring SolasCure's team. However, the company's thought leadership pieces and press releases provide insights into their vision for transforming chronic wound care.

    Conference and Fair Visits, Presentations, or Participations

    SolasCure has been recognized at several prestigious competitions and events. Notably, it won first place in the biotech category at the EIT Health Catapult in 2022 and was selected for the Innovate UK & TMC Innovation Accelerator Program in 2024. Additionally, SolasCure's participation in the Innovate UK Global Incubator Programme in Houston will facilitate its entry into the U.S. market.

    Involvement in Events

    The company has been involved in significant research collaborations, including a partnership with the U.S. Army Institute of Surgical Research to evaluate Aurase Wound Gel for combat wound care. SolasCure also conducts clinical trials for its products, such as the ongoing Phase II CLEANVLU2 trial, which aims to assess the efficacy of Aurase Wound Gel in treating venous leg ulcers.

    Recent Developments Post-EIC Accelerator Funding

    Since receiving the EIC Accelerator funding in June 2023, SolasCure has continued to advance its product development and clinical trials. The company has initiated new Phase II trials for Aurase Wound Gel, further exploring its efficacy and safety in chronic wound treatment. These developments underscore SolasCure's commitment to transforming the field of chronic wound care.

    Sources

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