Grant will allow for faster development and commercialization of Angiolutions’ treatment for abdominal aortic aneurysms
July 27th, 2023, Angiolutions has been awarded the prestigious European Innovation Council (EIC) Accelerator Grant and will receive €2.5 million in non-dilutive funding for its groundbreaking treatment for early-stage abdominal aortic aneurysms.
“Receiving the EIC Accelerator grant is a pivotal moment for our company, as it allows us to speed up our work to bring our innovative treatment to the thousands of patients suffering from abdominal aortic aneurysms”, said Dr. Isabel N. Schellinger, Angiolutions’ co-CEO.
The newly acquired EIC Accelerator grant will enable Angiolutions to achieve significant milestones, including the completion of clinical studies for its highly innovative treatment.
The EIC has been established to support game changing innovations throughout the lifecycle from early-stage research to proof of concept, technology transfer, and the financing and scale up. From a pool of 551 companies that succeeded in the first stage of the application, a mere 51 were selected, underscoring the intense competitiveness of the EIC Accelerator grant.
Angiolutions revolutionizes the treatment of life-threatening abdominal aortic aneurysms (AAAs) with a first-of-its-kind technology that halts AAA growth. AAA is a pathological dilation of the biggest blood vessel of our body affecting 1 in 20 people. Rupture is lethal in most cases.
Although most AAAs are detected at an early stage, there presently is no treatment to stop disease progression. Existing late-stage interventions are risky and not reliable. Angiolutions’ patented, minimally-invasive implant tackles the root cause of the aneurysm by intercepting aortic pulse waves that drive aneurysm growth.
Angiolutions’ treatment addresses the root cause of aneurysm growth by acting as a mechanical shield, absorbing aortic pulse waves that impact the AAA and drive its growth.
By treating early-stage AAA, the Angiolutions implant eliminates the need for traditional high-risk interventions.
“As an interventional cardiologist, I am excited about our treatment. Finally, doctors will be able to offer a treatment to the hundreds of thousands of patients who are living with the diagnosis of an early-stage abdominal aortic aneurysm. For patients that will be a big relief, as they can then avoid risky and unreliable interventions at a later stage of the disease”, explained Dr. Uwe Raaz, Angiolution’s co-CEO.
“Our goal is to commercialize our treatment and to enter the market as soon as possible.”, elaborated Marius Rummel, Angiolution’s Chief Business Officer, “The EIC accelerator grant will boost our efforts and help us further expand our competitive advantage.”
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