Project description
New system for stroke and PE treatment
Current thrombectomy tools for treating stroke and pulmonary embolism (PE) rely on outward radial forces to disrupt and retrieve clots, which can limit treatment for distal occlusions and leave behind fragments. The need for modern technologies in European healthcare is critical, as strokes and PE are leading causes of death and disability, especially with an ageing population. The EIC-funded MGN-2024-10 project will develop a system that attracts clots with minimal vessel wall interaction, enabling access to distal locations and reducing fragmentation. It will be the first technology to utilise the electric properties of blood clots for removal. It targets a EUR 5 billion market for both PE and stroke in the EU and the United States.
Objective
In the fields of stroke and PE care, current thrombectomy tools rely on outward radial forces against the vessel wall to disrupt and retrieve clots limiting treatment of distal occlusions and potentially leaving clot fragments behind.
Generating an attachment force that is attractive by nature with the eTrieve™ system developed by Magneto allows to attract clot with minimal interaction with the vessel wall, enabling access to distal locations and minimizing fragmentation. The eTrieve™ system developed by Magneto is the first and only system that utilizes the electric properties of blood clots in order to facilitate their removal.
The urgent need to invest in modern technologies for European healthcare systems is underscored by the pressing issues of stroke and pulmonary embolism, major causes of death and disability worldwide. With aging being a primary risk factor for stroke and Europe's population aging rapidly, the incidence of these conditions is poised to skyrocket.
We founded Magneto in 2016, and target a total addressable market across both PE and stroke indications of €5B (EU+US markets), with a SAM totaling at €1B with device pricing aligned with reimbursement: $3-5k for stroke devices and $10k per procedure for PE.
Our team includes experienced MedTech industry veterans, with specific and extensive knowledge in the cardiovascular space, and a talented and creative R&D team constantly driving the company innovation forward.
At Magneto, our vision is not just about developing a device; it's about revolutionizing patient care for stroke and PE. Our ambitious goals encompass innovation, patient well-being, accessibility, clinical excellence, sustainability, and collaboration. Through our relentless pursuit of these ambitions, we are poised to leave an indelible mark on the field of thrombectomy technology, saving lives, improving outcomes, and inspiring positive change across the healthcare landscape.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- medical and health sciences clinical medicine angiology vascular diseases
- medical and health sciences basic medicine neurology stroke
You need to log in or register to use this function
Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
-
HORIZON.3.1 - The European Innovation Council (EIC)
MAIN PROGRAMME
See all projects funded under this programme
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-EIC-ACC - HORIZON EIC Accelerator
See all projects funded under this funding scheme
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-EIC-2024-ACCELERATOR-02
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
6037604 OR YEHUDA
Israel
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.