Filterlex Medical, an innovative medical device startup in the cardiovascular field, today announced that the company has been selected for the Phase 2 Horizon 2020 SME Instrument program.
The SME Instrument program awards financial support to companies that demonstrate world class technology innovation, a sound business plan and great promise in becoming a high growth company.
Filterlex will receive a two-year grant valued at €2.1m that has been awarded through the prestigious Horizon 2020's Phase 2 Small and Medium-sized Enterprise (SME) Instrument, which targets groundbreaking innovations with the potential to profoundly impact the EU economy and global healthcare. According to the EU SME Instrument, the grant application process is highly competitive with 3.6% of the proposed applications selected for funding by multinational panels of technology, business and finance experts.
Filterlex develops the CAPTIS®, a full-body embolic protection device to reduce the risk of stroke and other complications during catheter-based structural heart procedures. The company began operating in mid-2016 at the Alon MedTech Ventures incubator, which is managed by Dr. Shimon Eckhouse, a pioneering technology entrepreneur and a leading investor in the field of medical devices. Since mid-2018, Filterlex has been operating independently.
During catheter-based, left-heart procedures, such as a Transcatheter Aortic Valve Replacement (TAVR), embolic particles are often released to the blood flow. During this procedure, particles migration to the brain may cause a spectrum of neurological deficiencies, from cognitive impairment to debilitating stroke. Emboli released to distal organs may result in acute kidney injury and ischemia. The CAPTIS device is a next-generation, full-body embolic protection device, easily and intuitively deployed and retrieved. The device is securely positioned in the aorta, protects its surface, while facilitating a seamless TAVR procedure. The device's distinctive, triple action design provides a full-body embolic protection by deflecting, capturing and removing embolic particles. CAPTIS uniquely requires no additional arterial access and does not interfere with the procedure workflow.
Together with the recent financing round of $3M, this grant will support the execution of clinical trials of the CAPTIS device.
"This grant is a strong vote of confidence of the European Commission in both our company and our CAPTIS device," said Sigal Eli, CEO of Filterlex. "Together with our recent financing round, this grant will help us to execute our clinical trials program and strengthen our collaboration with clinical key opinion leaders and industry partners."