BestHealth4U Awarded €4.25M from EIC Accelerator
BestHealth4U (Braga, Portugal) was awarded €4.25M combined grant and equity in the March 2024 round of the EIC Accelerator programme. In their EIC project, they are addressing the need for improved medical adhesives with their patented revolutionary glueless medical adhesive, Bio2Skin. We heard from Ricardo Teixeira de Sousa, COO, about the significance of this win and his experience collaborating with Catalyze towards the success.
Left to right: Nélson Oliveira (CTO), Ricardo Teixeira de Sousa (COO), and Sónia Ferreira (Founder & CEO).
BestHealth4U’s revolutionary adhesive uses natural features of the skin
External medical devices, such as ostomy pouches, wound dressings or wearable electronic devices, require the use of medical adhesives for their attachment to the skin. However, prolonged use of current medical adhesives is associated with serious adverse skin reactions called Medical Adhesives-Related Skin Injuries (MARSI). This underreported issue is prevalent in 25% of wound care cases and is associated with enormous health care and economic burdens.
BH4U aims to address this challenge with Bio2Skin. A patented revolutionary glueless medical adhesive that uses the skin’s natural features to establish a water-based link and overcomes the disadvantages of acrylic/silicone adhesives. Bio2Skin is a bio-based, cost-effective, recyclable solution offering gentle, safe adhesion and kind removal.
The €4.25M (grant & equity) funding from the EIC will enable BH4U to establish a lab-scale manufacturing line, complete clinical validation, obtain the necessary certifications, and produce at a semi-industrial level to ensure global market entrance.
Ricardo comments, “As with all companies, commercial success is essential, and at BestHealth4U, we know that this depends on effectively making a difference in the quality of life of users of medical devices that use Bio2Skin, so our main objective is to create a profound impact in the lives of patients, and in general, this will have a ripple effect, also creating an impact on the community.”
Support from Catalyze
Overall Experience and Final Outcome
We asked Ricardo how he experienced collaborating with Catalyze throughout the multiple stages of their EIC Accelerator submission, leading up to their selection as winners.
“Our overall experience of collaborating with Catalyze was exceptional. From the initial stages to the final interview, their support was invaluable in securing the EIC Accelerator grant for BH4U.”
Working through the Short & Full Proposal Stages
Ricardo shares, “In the short proposal stage, Catalyze provided strategic guidance, helping us to clearly define our project’s objectives and align them with the EIC’s priorities. Their expertise in drafting a compelling and concise proposal significantly increased our chances of progressing to the next phase.”
“Catalyze’s detailed feedback and hands-on support were crucial during the full proposal stage.” Ricardo continues, “The team assisted us in refining our business plan, strengthening our financial projections, and ensuring that every aspect of our proposal was meticulously prepared.
“This thorough preparation was key to demonstrating our innovation’s potential impact and commercial viability.”
Preparing for the interview with the EIC Jury
All EIC Accelerator applicants with a positive full-stage evaluation will be invited to pitch to a panel of up to six jury experts. The panel comprises business angels, entrepreneurs, venture capitalists, and other experts from larger corporates, innovation hubs, and accelerators.
“Catalyze’s support in interview preparation was another area where it shone. The mock interviews and personalized coaching sessions helped us present our project confidently to the EIC jury.”
Ricardo continues, “Catalyze’s insights into the interview process and potential questions ensured that we were well-prepared to address any concerns and highlight the strengths of our proposal.”
Added value of Catalyze’s support
“The added value of having Catalyze’s support was evident at every process stage. Their deep understanding of the EIC Accelerator’s requirements and the strategic and practical assistance were instrumental in our success.”
Ricardo adds, “We are grateful for our partnership and look forward to continuing to work together in the future.”
BestHealth4U’s EIC Accelerator award
“A transformative milestone for BH4U”
Ricardo explains the significance of this award for BestHealth4U:
“Winning the EIC Accelerator award is a transformative milestone for BH4U. This prestigious recognition validates our innovative vision and positions us at the forefront of cutting-edge technology in our field. The award provides us with the critical resources and financial backing to accelerate our development, scale our operations, and disrupt the market.
“This award signifies a robust endorsement from one of Europe’s most competitive and respected innovation programs. It underscores our project’s high-impact potential and market viability, de-risking future investments and promising substantial returns.”
“Poised for rapid growth”
“With the EIC’s support, we are poised for rapid growth, increased market share, and the ability to deliver exceptional value and groundbreaking solutions to our customers and stakeholders.”
Ricardo finishes, “This award is more than just funding; it’s a powerful catalyst that will drive our mission forward, fostering innovation and enabling us to achieve our strategic goals at an unprecedented pace. We are excited about the future and the remarkable opportunities this recognition brings to BH4U.”
The Catalyze team has greatly enjoyed collaborating with BestHealth4U towards this momentous success. We look forward to continuing our support for BestHealth4U as they further their impactful mission in healthcare.
Looking for support?
How can we help you on your innovation journey? Contact us today.
