Restore Medical secured a strategic investment of €2.5M from the European Innovation Council

The award also included the potential for a €10M equity investment from the EIC, subject to future milestones.

Restore Medical, a Peregrine Ventures portfolio company that originated in the firm’s Incentive Incubator, was awarded a €2.5 million grant from the European Innovation Council (EIC) to advance the clinical development of its ContraBand™ heart failure therapy.

Restore was selected as one of 74 companies from more than 1,000 applicants under the EIC Accelerator program. The funding supports the clinical development of ContraBand™, a catheter-delivered implant designed for patients with congestive heart failure.