Glycanostics has been selected as one of 65 innovative start-ups and SMEs out of more than 4,000 applicants to receive funding under the European Innovation Council (EIC) Accelerator scheme.
Glycanostics became the third company in the history of Slovakia to receive an EIC Accelerator grant, with grant funding amounting to €2 million and potential direct equity investment of up €15 million .
The funds will be used to complete the development of the diagnostic test for prostate cancer, its clinical validations, patenting biomarkers, as well as preparing it for the CE registration process, which is necessary for its commercialisation on the market.
The EIC Accelerator is a European Innovation Council (EIC) financial scheme and part of the Horizon Europe programme. Its goal is to support the further development of cutting-edge innovative solutions from start-ups and SMEs, with a significant part of the programme focusing on strategic innovations in healthcare, as well as digital technologies and projects supporting the goals of the European Green Deal. In 2021, the European Innovation Council distributed a total of €136 million in the form of grants to 65 European companies, including the grant for Glycanostics Ltd.
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. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors.