BORDEAUX, France–(BUSINESS WIRE)–#EICAccelerator–FineHeart S.A, a preclinical medical device company that has developed the ICOMS FLOWMAKER®, a fully Implantable Cardiac Output Management System designed to address the unmet need of patients suffering from severe heart failure, today announced that it had been awarded a €2.5 million grant by the European Commission (EC) under the highly selective EIC Accelerator program. This grant has the potential to be followed by an equity investment of up to €15 million by the EIC Fund at the company’s next series C funding round. It will support the industrialization and clinical trials of the ICOMS FLOWMAKER®.
“The support of the European Union is of significant importance to FineHeart as we prepare for the First In Human implantation, scheduled for 2023. This recognition by the Experts of Europe of Europe illustrates our commitment to providing heart failure patients with a highly innovative, effective and sustainable treatment. It will have a very significant impact on our whole industrial and clinical development program. I am very proud to share this success with the whole FineHeart team, which has worked tirelessly to resolve all the scientific and technological hurdles of our device, with the international community of cardiologists who have been by our side since the beginning, and with our investors and partners who have supported us in reaching successfully this decisive milestone for the company.” declared Arnaud Mascarell, CEO & co-founder of FineHeart.
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 combined with equity investments through the EIC Fund ranging from €0.5 to €15 million to help these companies develop and bring to market innovative products that can stimulate economic growth in Europe. https://europa.eu/!7NrFkR
FineHeart is one of the 13 French companies to have been awarded funding during the latest round of the program which selected 75 European companies out of more than 1000 candidates.
Advisors to FineHeart: https://www.ixeo-conseil.com/
About FineHeart: http://fineheart.fr/