1 The EIC Accelerator Project
EIC Accelerator Program Overview
The EIC Accelerator program is a key initiative under the European Innovation Council (EIC), designed to support small and medium-sized enterprises (SMEs) and startups in Europe, particularly those focused on deep technology innovations. The program aims to foster the development and scaling of high-risk, high-potential innovations that can significantly impact society and the economy. The EIC Accelerator provides financial support in the form of grants and equity investments, enabling companies to bring their cutting-edge solutions to market.
Funding Structure
The EIC Accelerator offers two primary forms of funding: grants and equity investments.
Purpose in the DeepTech and Startup Ecosystem
The EIC Accelerator plays a vital role in nurturing the European deep tech and startup ecosystem by addressing the funding gap often faced by innovative companies. Many startups struggle to secure traditional financing due to the high risks associated with their pioneering technologies. By providing tailored financial support, the EIC Accelerator enables these companies to focus on innovation and growth rather than on immediate profitability. This support is crucial for building a robust ecosystem that promotes technological advancements and competitiveness on a global scale.
Supporting Companies in Scaling and Securing Private Funding
The EIC Accelerator not only provides funding but also offers a suite of services to help companies scale effectively. This includes access to a network of investors, mentors, and industry experts, which can facilitate connections to private funding sources. The program emphasizes the importance of strategic partnerships and collaborations, enabling companies to leverage resources, expertise, and market access that can accelerate their growth trajectory.
Case Study: Thirona BV and LungQ-Care
Company Overview
Thirona BV, based in the Netherlands, is a pioneering company focused on advancing healthcare solutions through artificial intelligence. The company emphasizes the importance of personalized medicine, particularly in the field of respiratory diseases.
Project Overview: LungQ-Care
The EIC Accelerator project LungQ-Care aims to facilitate personalized lung treatment decisions using a DeepTech AI clinical decision support system. This innovative approach aims to enhance the quality of care for patients with lung conditions by providing healthcare professionals with data-driven insights tailored to individual patient profiles.
Technology Basics and Background
LungQ-Care utilizes advanced artificial intelligence algorithms to analyze extensive datasets from medical imaging, patient histories, and clinical outcomes. The system is designed to assist healthcare providers in making informed treatment decisions by predicting the most effective therapies for specific patient scenarios.
The technology leverages deep learning techniques to interpret medical images, such as CT scans and X-rays, to identify patterns indicative of various lung diseases, including chronic obstructive pulmonary disease (COPD) and lung cancer. By integrating clinical data with imaging results, the system can provide comprehensive assessments that highlight potential treatment pathways and improve patient outcomes.
The LungQ-Care project addresses a critical gap in the healthcare system, where personalized treatment plans are often underutilized due to the complexity of data interpretation. By streamlining the decision-making process, Thirona BV aims to enhance the efficiency of healthcare delivery, reduce costs, and ultimately improve the quality of life for patients suffering from respiratory issues.
Conclusion
In conclusion, the EIC Accelerator program serves as a pivotal platform for innovative companies like Thirona BV, providing essential funding and support to navigate the challenges of scaling groundbreaking technologies. The LungQ-Care project exemplifies how deep tech can revolutionize healthcare, paving the way for more personalized and effective treatment strategies in respiratory medicine. Through initiatives like the EIC Accelerator, Europe is fostering a vibrant ecosystem that champions innovation and addresses pressing societal needs.
2 The Funding Rounds
Financing Raised
Since winning the EIC Accelerator funding in March 2023, Thirona BV has raised a total of €7.5 million. This financing consisted of a €5 million investment round led by HERAN Partners (Belgium) and Borski Fund (Netherlands), and a €2.5 million grant from the European Innovation Council (EIC) itself. The funds are intended to accelerate adoption of Thirona's AI-powered innovations for precision medicine in lung disease.
Funding Rounds
- September 2023: Major funding round closed, raising €7.5 million.
- Equity Investment: €5M from HERAN Partners and Borski Fund
- Grant: €2.5M from EIC Accelerator
- Previous rounds prior to 2023 totaled approximately $5.4M over three rounds, with the latest being the one above.
Timing and Amounts
| Date | Round/Funding Type | Amount | Investors/Source |
|---|---|---|---|
| Sep 2023 | Equity + Grant | €7.5M | HERAN Partners, Borski Fund, EIC |
| Prior to 2023 | Multiple Rounds | $5.4M total | Not specified |
</em> Exact dates/amounts for earlier rounds are limited but aggregate at $5.4M up to Sep 11, 2023. * Latest included in that tally is likely this major September round.
Investor Information
- HERAN Partners: Belgian investment fund specializing in healthcare innovation.
- Borski Fund: Dutch-based venture capital firm focused on supporting female entrepreneurs and diversity-driven companies.
- Both participated jointly as lead investors in the September 2023 round.
- The European Innovation Council provided non-dilutive support via grant funding.
Company Valuations
Public valuation figures for Thirona BV have not been disclosed as part of these funding announcements or subsequent media coverage available as of May 2025.
For its retina-focused spinout (Thirona Retina BV), there is an implied transaction value based on acquisition activity: Revenio Group acquired Thirona Retina BV for approximately €6.7 million (€1.9M minority stake taken in late 2023; remaining shares purchased for ~€4.8M by August/September 2024). However, this valuation pertains specifically to the spun-off retina diagnostics business—not Thirona’s core lung imaging operation.
Exit Events: IPOs or Acquisitions
There has been no IPO or buyout/acquisition event reported involving Thirona BV's main business since March 22, 2023:
- In January 2023, prior to their recent financing success, Thirona spun out its eye-disease division into a separate legal entity—Thirona Retina BV—to focus exclusively on ophthalmology markets while retaining emphasis on pulmonary imaging within its core company.
- In August–September 2024, Finnish medtech group Revenio completed acquisition of all shares in Thirona Retina BV, marking an exit event only for that spin-out division—not affecting ownership/control of parent company Thirona BV itself.
No other acquisitions or public listing events have been reported involving core-company operations during this period.
Sources
- Thirona Raises €7,500 Million New Financing
- Dutch AI-powered medtech Thirona raises €7.5M
- Press Releases Archives – Financing Round with HERAN/Borski
- Thirona Company Overview — Funding Data
- Revenio acquires Dutch AI software company Thirona Retina
- Thirona spins out the Retina business to pursue long-term growth plans
3 The Press Releases
Thirona BV: Advancements and Partnerships Since EIC Accelerator Funding
Thirona BV, a Netherlands-based company specializing in artificial intelligence (AI) for medical image analysis, has been making significant strides since receiving funding from the European Innovation Council (EIC) Accelerator in March 2023.
AI-Based Lung Platform and Funding
Thirona was awarded $2.73 million by the EIC to accelerate the development of its AI-based lung platform, which analyzes chest CT imaging for better diagnostics and personalized treatment of lung diseases. This funding followed a competitive process where Thirona was one of 51 companies selected from over 551 submissions.Technology Advancements and Applications
Thirona's AI platform, LungQ, provides high-precision quantitative analysis of thoracic CT scans. This technology is crucial for planning complex bronchoscopic interventions and supports pharmaceutical drug and treatment development. The company has also advanced its LungQ AVX AI for diagnosis and phenotyping, revealing new potential for treating vascular diseases.Partnerships
Thirona has formed strategic partnerships to enhance its services. Notably, it partnered with Blackford to bring the LungQ solution to healthcare professionals via the Blackford Platform. Additionally, Thirona and Voiant have entered a global commercial partnership to provide integral services for clinical trials using AI-powered lung image analysis.Team Updates and Organizational Changes
Eva van Rikxoort, CEO and Founder of Thirona, expressed honor at being recognized as a trustworthy company with innovation potential. The EIC grant enables Thirona to drive positive change in patient care. Thirona has also welcomed top clinical experts to its Medical Advisory Board to advance personalized lung disease treatment.Business Restructuring
Thirona spun out its Retina division into Thirona Retina BV as of January 1, 2023, focusing the parent company on lung disease solutions while allowing the Retina division to concentrate on eye diseases.Recent Achievements
Thirona secured €7.5 million in new financing from HERAN Partners, Borski Fund, and the EIC, further supporting its growth. The company also achieved FDA 510(k) clearance for the latest version of its AI-based clinical software, LungQ v3.0.0.Sources:
- EIC Accelerator winners and statistics March 2023 - Strata.team
- News - Thirona
- Thirona secures $2.73M in funding from EIC for AI-based lung platform
- Thirona awarded to receive EIC grant - Radboudumc
- Thirona spins out the Retina business to pursue long-term growth plans
- Thirona: Experts in AI-powered lung image analysis
- Dutch AI medical image analysis company Thirona secures grant from EIC
4 The Technology Advancements
Thirona BV, a Netherlands-based company specializing in AI-powered lung image analysis, has significantly advanced its capabilities since receiving the EIC Accelerator funding on March 22, 2023. Below is a detailed overview of their current capabilities and progress:Current Capabilities of Thirona BV
- Specializes in high-precision quantitative analysis of thoracic CT scans using artificial intelligence.
- Their AI platform, LungQ™, provides comprehensive lung quantification including anatomical volumes, parenchymal disease distributions, airway and vascular morphology, and fissure completeness.
- Offers robust solutions for screening, diagnostics, personalized patient treatment planning for lung diseases such as COPD.
- Has analyzed over 15 million images with more than 600 clinical installations worldwide across over 40 countries.
- Known for unique segmentation techniques validated by double human analyst reviews to ensure accuracy.
Advancements Since Receiving the EIC Accelerator Funding (March 2023)
Technology Improvements and New Features
- In January 2024, Thirona received U.S. FDA clearance (510(k)) for an updated version (v3.0.0) of its LungQ software platform. This update enhances clinical workflow efficiency in diagnosis and treatment planning especially for chronic obstructive pulmonary disease (COPD).
- The advanced version supports precise quantitative measurements within sub-compartments of thoracic CT images enabling improved personalized treatment strategies and monitoring disease progression objectively.
Market Demonstrations: Customers & Clinical Applications
- Thirona’s technology is actively used in clinical settings worldwide with more than 600 installations indicating substantial market adoption.
- Collaborates extensively with pharmaceutical companies, med-tech firms, Clinical Research Organizations (CROs), and hospitals to integrate its AI solutions into drug development pipelines as well as bronchoscopic interventions.
Partnerships & Integration
Organizational Developments Related to Product Focus
Intellectual Property & Scientific Output
While specific new patents filed since March 2023 are not explicitly reported in available sources:
No detailed information was found about newly published whitepapers or clinical trials initiated specifically after the EIC funding date; however:
Summary
Since securing the EIC Accelerator funding on March 22nd, 2023:
- Thirona has improved its core LungQ platform technologically culminating in FDA clearance of an enhanced version available early in January 2024.
- It demonstrated broad market validation through widespread installation (>600 sites globally) and new strategic partnerships facilitating integration into medical workflows.
- Organizationally focused efforts have streamlined product lines by spinning off retina-related solutions allowing concentrated innovation on lung disease applications.
- Continued production of scientific knowledge underpins ongoing R&D although no explicit mention was made about new patents or publications exactly post-funding.
Overall, these developments show that Thirona has leveraged the EIC funding effectively to advance both technological features and market presence while continuing collaborations aimed at improving personalized care for lung diseases.
Sources
5 The Partnerships and Customers
Thirona BV: Recent Developments and Partnerships
Since receiving the EIC Accelerator funding in March 2023, Thirona BV has engaged in several strategic partnerships and developments, significantly advancing its position in the market.
Partnerships and Customers
Thirona BV has established notable partnerships to enhance its AI-based lung image analysis capabilities. One of the key partnerships is with Blackford, a strategic AI platform provider. This partnership aims to bring Thirona’s LungQ solution to healthcare professionals via the Blackford Platform, expanding access to advanced thoracic CT scan analysis tools.
Additionally, Thirona has entered a global commercial partnership with Voiant, focusing on providing full-scope integral services for clinical trials involving AI-powered lung image analysis. This collaboration combines Voiant’s expertise in supporting clinical trials with Thirona’s advanced lung image analysis capabilities.
New Partners and Customers
While specific names of new customers are not detailed, the partnerships with Blackford and Voiant indicate an expansion of Thirona’s reach within the healthcare and clinical trial sectors.
Nature of New Relationships
These partnerships are designed to leverage Thirona’s AI technology to improve pulmonary disease diagnosis and treatment. By integrating its solutions with platforms like Blackford, Thirona enhances the accessibility and effectiveness of its LungQ software for healthcare professionals.
Market Positioning
These new relationships position Thirona BV as a leading provider of AI-based lung image analysis solutions. The company's focus on partnerships with key players in the healthcare sector strengthens its market presence and ability to deliver cutting-edge technology in pulmonary disease management.
Technology Advancements and Scaling
The collaborations with Blackford and Voiant will help Thirona BV in scaling its operations and advancing its technology. By integrating its software into broader platforms and supporting clinical trials, Thirona can refine its solutions based on real-world applications, leading to improved accuracy and efficiency in lung disease diagnosis and treatment.
Moreover, Thirona's recent funding of €7.5 million from investors like HERAN Partners and the European Innovation Council will further support its growth and technological advancements, enabling the company to expand its capabilities in AI-based medical image analysis.
Spin-out of Thirona Retina BV
Thirona BV spun out its retina division into Thirona Retina BV in January 2023. This strategic move allowed Thirona to focus exclusively on lung diseases, while Thirona Retina BV concentrates on eye diseases. Although Thirona Retina BV was later acquired by Revenio Group in August 2024, this separation enabled both entities to pursue specialized growth strategies in their respective markets.
Sources
- Thirona Spins Out the Retina Business to Pursue Long-Term Growth Plans
- Thirona Spinout Thirona Retina BV Acquired by Revenio Group
- Thirona Raises €7,5 Million New Financing
- Thirona Raises €7,5 Million New Financing
- Thirona Announces Partnerships to Enhance AI-based Lung Image Analysis
- News - Thirona
- Dutch AI medical image analysis company Thirona spins out Retina division
6 The Hiring and Company Growth
Thirona BV: Growth and Development Since EIC Accelerator Funding
Thirona BV, a Netherlands-based company specializing in AI-powered lung image analysis, received funding from the European Innovation Council (EIC) Accelerator program in March 2023. This funding has been instrumental in propelling the company's growth, particularly in advancing its AI-based lung platform for analyzing chest CT imaging.
Current Team Size and Growth
Thirona has experienced significant growth, expanding from just one-and-a-half employees to a team of around 60 members as of the latest available data. This growth reflects the company's increasing presence in the medical technology sector, particularly in leveraging AI for pulmonary disease diagnosis and treatment.
Hiring Status
Thirona is actively hiring to further strengthen its team, as indicated by job postings for positions such as Team Lead C++ and open applications for motivated young professionals with expertise in programming languages like Python and C++.
Key Positions and New Team Members
Recent hiring focuses on technical roles that support the company's AI-driven medical image analysis. The addition of new team members, particularly those with a background in software development and AI engineering, is crucial for enhancing Thirona's technological capabilities and scaling its operations. These new members contribute to the development of advanced AI algorithms and platforms, such as LungQ®, which plays a key role in the company's mission to improve lung disease diagnosis and treatment.
Impact on Company Growth and Future
The growth of Thirona's team and the addition of new members are pivotal in driving the company's mission forward. By expanding its workforce with skilled professionals, Thirona is better positioned to develop more sophisticated AI solutions, collaborate with pharmaceutical and med-tech companies, and support innovations in clinical care. This team expansion is expected to enhance Thirona's global presence and contribute to its continued success in the precision medicine sector.
Major Changes in Management or Founding Team
There are no reported major changes in Thirona's management or founding team recently. The company is led by CEO Eva van Rikxoort, who has been instrumental in shaping Thirona's vision and growth since its inception.
Funding Impact
The EIC funding has been critical for Thirona, enabling the company to accelerate the development of its AI-based lung platform. This investment not only supports the technological advancement of Thirona's products but also underscores the company's potential to lead in the AI-driven medical imaging sector.
Sources
- Thirona
- From Scientist to CEO: My journey to pioneer AI in Precision Medicine
- Careers - Thirona
- Thirona secures $2.73M in funding from EIC for AI-based lung platform
7 The Media Features and Publications
Thirona BV: Media Presence, Publications, and Event Engagement Post-EIC Accelerator FundingThirona BV, a Netherlands-based leader in AI-powered lung image analysis, has maintained a strong academic and industry presence since its 2023 EIC Accelerator win. Below is a synthesis of its media features, publications, and event activities:
Media Features & Public Recognition
- 2023 Funding Milestone: Thirona secured €7.5 million in financing to advance AI-driven lung disease diagnostics and expand its global reach.
- AI Partnerships: Collaborations with entities like Optomed highlight Thirona Retina’s role in retinal analysis (RetCAD™), emphasizing cross-domain AI innovation.
Publications Naming Thirona
Thirona’s research contributions are extensively documented in peer-reviewed journals:- Chronic Bronchitis: Demonstrated reduced mucus plugging post-Bronchial Rheoplasty (American Journal of Respiratory and Critical Care Medicine, May 2024).
- Cystic Fibrosis: Quantified bronchial wall thickening reduction using azithromycin (Journal of Cystic Fibrosis, April 2024).
- COPD Phenotyping: Linked structural airway changes to disease progression (The Lancet and Thorax, 2021–2024).
Conference Participation & Presentations
- ERS International Congress 2024: Scheduled presentations on AI-based lung imaging for precision medicine (8–10 September, Vienna), including sessions on clinical trial acceleration and bronchiectasis therapy assessment.
- Past Engagements: Frequent contributions to respiratory conferences (e.g., European Respiratory Society events) showcasing LungQ™ analytics for pulmonary pathology quantification.
Event Involvement & Industry Presence
Thirona actively participates in clinical innovation pathways:- Collaborative Demos: Partnered with Voiant Clinical at ERS 2024 to demonstrate AI-driven trial efficiency improvements.
- Expert Panels: Features speakers like Dr. Jean-Paul Charbonnier (CTO) and Prof. Harm Tiddens (Scientific Advisor) at international forums.
Sources Used:
- Thirona's Website – Overview of expertise, customers, and conference announcements
- EIC Accelerator Press Release – €7.5M funding details
- Optomed Partnership Announcement – RetCAD™ collaboration insights
Note: No podcasts or interviews were identified from available sources.*
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