NC Biomatrix Wins EIC Grant

PRESS RELEASE

February, 15 2023

NC Biomatrix receives €2.5M European Innovation Council funding to complete pre-clinical studies and run its first-in-human trial

Hundreds of millions of people worldwide suffer from chronic back pain. According to the WHO, it remains one of the leading causes of disability and lost economic value. The most common cause of persistent back pain is degenerative disc disease, but its treatment remains difficult. By providing a permanent solution to people who have struggled with chronic back pain and disability for years or decades, Vitadisc® aims to revolutionize the treatment paradigm. Vitadisc® is a natural injectable device developed for the definitive treatment of chronic back pain due to degenerative disc disease, with potentially significant advantages over existing alternatives for treating this condition.In what the EIC called a "highly competitive selection process”," NC Biomatrix was one of only 78 companies out of more than 1,000 selected, and it is one of only 12 selected companies with female leadership. The company's ability to complete preclinical research and the first-in-human trial for Vitadisc®, its main product, will largely depend on this investment.A €2.5M grant from the EIC has been awarded to NC Biomatrix, a medical device company developing next-generation natural biomatrix technology. NC Biomatrix technology triggers the native regenerative mechanisms of cartilage tissues, and to date, no other technology can do this.

About European Innovation Council (EIC)

The European Innovation Council (EIC) has been established under the EU Horizon Europe Programme. It provides funding for individual companies (mainly start-ups and SMEs) through grants and investments to support game changing innovations throughout the lifecycle from early– stage research; to proof of concept, technology transfer and the financing and scale up of start-ups and SMEs. The investments currently take the form of direct equity or quasi-equity investments and are managed by the EIC Fund.

About NC Biomatrix

NC Biomatrix, an NLC/TU Eindhoven venture, is specialized in the application of injectable biomatrix technology to definitively resolve chronic orthopedic conditions. Their most advanced technology is VitaDisc®, a novel, patented treatment for degenerative disc disease. They are working in partnership with leading corporations to develop game-changing biomatrix technologies for other unmet clinical needs — in orthopedics and beyond.

FOR MORE INFORMATION

NLC – The European Venture BuilderAnne ReijnsMarketing & Communications Leadanne.reijns@nlc.healthIleana LindemanCEOileana@ncbiomatrix.com