On March 4, 2024 BetaGlue Technologies S.p.A. ("BetaGlue" or the "Company") a clinical stage company developing novel medical device products in the field of loco-regional radiotherapy to treat solid tumour cancers called ‘BAT-90’, reported that it has been successful in its application for a €10m EIC Accelerator award.

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The European Innovation Council (EIC) Accelerator program is the most competitive of its kind in Europe.
For the November 2023 cut-off just 42 of 1,083 (~4%) applicants were successful.
The application process includes a detailed written submission, and then if short-listed, face-to-face cross-examination by a highly experienced jury panel.
The €10m award consists of a €2.5m grant component and a €7.5m equity component. The capital will be used to further advance the clinical development of the BAT-90 platform in multiple solid tumour cancer indications.

"The rigorous EIC Accelerator review process involves a high degree of technical and commercial scrutiny. Our success is testament to the clinical and commercial impact potential of our platform technology, and moreover, to the world-class executive team that have made this tremendous accomplishment" said Dr Colin Story, CEO.

(Press release, BetaGlue Technologies, MAR 4, 2024, View Source [SID1234661235])