Ganymed Robotics awarded a €2.5M grant through EIC Accelerator Program
Paris, France-based Ganymed Robotics, a start-up developer of advanced software and robotics technologies for orthopaedic surgeons, has secured a €2,5 million grant through the European Innovation Council (EIC) Accelerator program. The company says it will use the EIC funding to accelerate product development and further strengthen its team, to become global category leader in surgical orthopaedics robotics by the end of the decade.
EIC Accelerator, designed to develop and scale up groundbreaking innovations, is the most competitive public funding scheme for deeptech start-ups in the world, with this year over 2000 companies applying and only 65 winners.
Sophie Cahen, CEO of Ganymed Robotics, said: “We are thrilled by EIC Accelerator’s support which validates the high potential of Ganymed’s technology and comes as a strong recognition of the major milestones Ganymed has achieved so far. We are now in a solid position to accelerate the development of our unique, patented technology platform to bring more intelligence and efficiency into the operating room and become the new standard of care for joint replacement.”
Ganymed Robotics is developing a radically new approach to surgical robotics by combining computer vision, a branch of artificial intelligence, and mechatronics. Ganymed’s first application is a robotic surgical assistant for total knee arthroplasties (TKA). Driven by a growing and ageing population, demand for orthopaedic surgery is rapidly increasing and the market for TKA is expected to rise from 2.4 million procedures in 2021 to 5.7 million in 2030 in the OECD alone. Orthopaedic surgeries are complex, yet 95% are performed without technological assistance, leading to suboptimal outcomes; patient dissatisfaction rate is above 20%. Ganymed’s device is the first compact, ergonomic, and intuitive robot, simplifying, accelerating, and increasing the accuracy of orthopaedics.
EIC Accelerator’s support comes at a pivotal time for Ganymed, following major successful milestones in R&D, intellectual property, product design and human resources.
The company launched a clinical trial in September 2021 to validate the company’s proprietary algorithms and collect unique in vivo data, enabling new opportunities for AI-assisted surgery. Ganymed secured strategic partnerships with manufacturers to initiate the industrialization of its device. On the intellectual property front, the company obtained a patent in the United States and has 5 more pending patents, with more filings to come.
