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Endoron Medical awarded a €2.5M grant from the European Commission through the prestigious EIC Accelerator Program

  • Endoron is one of 75 companies selected among nearly 1000 applicants by the European program EIC Accelerator

  • The funds will enable the company to accelerate the development of its unique endovascular fastening solution for a complete seal and stability of endografts used for the treatment of abdominal aortic aneurysms

TEL AVIV, ISRAEL / ACCESSWIRE / November 14, 2022 / Endoron Medical, ("Endoron"), a medical device company developing an innovative solution for endovascular repair of abdominal aortic aneurysms, announced today it has been awarded a €2.5 million grant by the European Commission (EC) under the highly selective EIC Accelerator program.

Sofinnova Partners, Monday, November 14, 2022, Press release picture
Sofinnova Partners, Monday, November 14, 2022, Press release picture

Endoron's technology, Aortoseal®, was developed to overcome the challenges associated with the sealing and fixation of endografts used for the minimally invasive repair of abdominal aortic aneurysms (AAA) in difficult aortal anatomies, avoiding highly invasive, high-mortality open surgery, which is still being used in such cases. Aortoseal® is meant to provide long-term durability to endovascular aneurysm repairs (EVAR), thanks to its unique stapling mechanism.

This grant will support the scale-up and clinical evaluation of the Aortoseal® implant, required to bring this unique technology to the 4 million patients diagnosed with AAA who could benefit from a minimally invasive treatment approach.

Ronit Harpaz, Co-Founder and Chief Executive Officer of Endoron, commented: "We are delighted that Endoron has been singled out by the European Commission after an extremely selective process. The support of the EIC program validates our technology and our approach, recognizing the strong value created and milestones achieved in the past 30 months. This grant will help accelerate the development and clinical validation of our Aortoseal® implant, enabling a maximum of patients suffering from AAA to benefit from this minimally invasive approach, which has the potential to become the new standard of care."

Endoron is one of the 75 companies to have been awarded funding during the latest round of the program, which had nearly 1000 candidates.

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About the EIC Accelerator program
The EIC Accelerator program is part of the European Innovation Council (EIC) project, which sits within the European Union's €95 billion Horizon Europe framework program for research and innovation. The EIC Accelerator offers start-ups and SMEs grants of up to €2.5 million to help these companies develop and bring to market innovative products that can stimulate economic growth in Europe.

About Endoron Medical
Endoron Medical was created in 2019 by three founders with extensive industry expertise and entrepreneurial experience: Ronit Harpaz, a member of the Elite 8400 Network and former CEO of Bendit Technologies; Prof. Ron Karmeli, a world-renowned vascular surgeon who is Endoron's Chief Medical officer and the inventor of the technology; Eyal Teichman, Chief Technology Officer, a mechanical engineer with over 30 years of experience in research and development in the field. The company was seed financed in 2021 by Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London, and Milan.

For further information, visit endoronmedical.com

Contact:
Ronit Harpaz
Chief Executive Officer, Endoron Medical
Ronit@endoronmedical.com

SOURCE: Endoron Medical



View source version on accesswire.com:
https://www.accesswire.com/725528/Endoron-Medical-awarded-a-25M-grant-from-the-European-Commission-through-the-prestigious-EIC-Accelerator-Program