Oxford Endovascular and Orthox awarded up to €500,000 in co-investment from EIT Health
The Start-up Rescue Instrument gives a total of €5.5m in co-investment to help companies maintain business continuity
OTIF portfolio companies Oxford Endovascular and Orthox has been awarded up to €500,000 from the Start-up Rescue Instrument to support with business continuity in response to the disruptions caused by the COVID-19 pandemic. The instrument was launched to alleviate the financial shock posed by COVID-19 and bridge the fundraising gap of start-ups in Series A, Series B and bridge-financing rounds. It was prepared by EIT Health, an EU initiative, in May 2020 and called on highly innovative biotech, medtech and digital health start-ups to apply to receive up to €500,000 in co-investment in return for options.
Read the official press release here.