The EU-funded project FRONTIER (From Research Optoacoustic Novelty To Imaging Established in Routine diagnostics) will serve a critical role in the development of MSOT by bridging the gap between the laboratory and the clinic. The project encompasses three major objectives: MSOT system optimization, achieving broad clinical validation and regulatory approval for the new platform, and developing a robust market access strategy in cooperation with national and regional policymakers.
Co-investment by the European Innovation Council (EIC) Fund comes as the equity portion of iThera Medical’s successful grant application to the Horizon Europe EIC Accelerator program. This program employs a unique hybrid grant-equity scheme to fund European pioneering innovations. In addition to a €2.5 Million grant to support technology development, the European Union will also directly invest in iThera Medical via the EIC Fund.
The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance. The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialization of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding. The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.
This project has received funding from the European Union’s Horizon Europe research and innovation program under grant agreement No 190174417. The material presented and views expressed here are the responsibility of the author(s) only. The EU Commission takes no responsibility for any use made of the information set out.