CARMAT to Receive Up to €17.5 Million in Blended Funding

CARMAT has been selected by the European Council to join its acceleration program (EIC Accelerator), which awards the most innovative companies in Europe.
 
EIC Accelerator is a funding program for innovative companies that aims to support the creation of European unicorns by helping them bring disruptive innovations to market.
 
Following a highly selective and rigorous evaluation process, the Aeson artificial heart has been recognized as a high-quality medical innovation aimed at providing a relevant solution to a public health issue with significant unmet needs. Consequently, CARMAT has been awarded the maximum possible funding amount under this program—a €2.5 million non-dilutive grant to support the industrialization of Aeson, and €15 million in optional equity financing from the European Innovation Council Fund (EIC Fund), to support Aeson’s European marketing. Terms and conditions of the optional equity financing will be specified later.
 
“We are proud and grateful to have been awarded within this prestigious program. The EIC’s decision confirms the very high quality and strong potential of our innovation and gives us access to substantial funding to support our development. I would like to thank all the CARMAT teams involved in this challenging call for projects, which once again highlights the urgent need for an innovative solution to treat advanced biventricular heart failure,” CARMAT CEO Stéphane Piat said.

The world’s first physiological artificial heart that is highly hemocompatible, pulsatile and self-regulated, Aeson could save the lives of thousands of patients (annually) waiting for a heart transplant. The device is ergonomic and features a portable external power supply system that is continuously connected to the implanted prosthesis. Aeson is commercially available as a bridge to transplant in the European Union and other countries that recognize CE marking. Aeson is also currently being assessed within the framework of an Early Feasibility Study (EFS) in the United States.
 
CARMAT is a French medtech firm that designs, manufactures and markets the Aeson artificial heart. The company’s ambition is to make Aeson the first alternative to a heart transplant, and thus provide a therapeutic solution to people suffering from end-stage biventricular heart failure, who are facing a well-known shortfall in available human grafts. Founded in 2008, CARMAT is based in the Paris region, with its head offices located in Vélizy-Villacoublay and its production site in Bois-d’Arcy. CARMAT is listed on the Euronext Growth market in Paris.