Realheart receives EUR 750,000 in second grant payment from the European Innovation Council

Västerås, Sweden, December 29, 2023 – Scandinavian Real Heart AB (publ) today announces that the company has received its second payment from the European Innovation Council (EIC) grant that was awarded in December 2021, aimed at supporting the development of the artificial heart Realheart TAH. The payment of EUR 750,000 equals 30% of the total grant sum of EUR 2.5 million.

The company was awarded the grant within the framework of the European Innovation Council Accelerator program, which main purpose is to support the development of European innovations that have the potential to create new markets or disrupt existing ones. With the current payment, Realheart has received 80% of the total grant sum and will receive the final EUR 500,000 as the product development advances.

"We are very happy to receive the second payment of the innovation grant for the continued development of Realheart TAH. We have had a fruitful dialogue with the European Innovation Council during the reporting period and see its continued support as proof of the innovation height in our unique artificial heart. The payment will be used to finance the last part of our preclinical development of Realheart TAH, which will enable us to then move into the next phase," says Realheart's CEO, Ina Laura Perkins.
 

Today, more than 8,300 patients with advanced heart failure in Europe and the U.S. are waiting to undergo a heart transplant, and unfortunately many pass away while on a waiting list. Realheart develops Realheart TAH, an artificial heart that mimics the structure, function, and blood flow of the human heart, and which unique attributes create completely new opportunities to save lives and offer patients an improved quality of life while waiting for a transplant.