MGN-2024-10 · Magneto eTrieve thrombectomy system EIC funding application

In the fields of stroke and PE care, current thrombectomy tools rely on outward radial forces against the vessel wall to disrupt and retrieve clots limiting treatment of distal occlusions and potentially leaving clot fragments behind.Generating an attachment force that is attractive by nature with the eTrieve™ system developed by Magneto allows to attract clot with minimal interaction with the vessel wall, enabling access to distal locations and minimizing fragmentation. The eTrieve™ system developed by Magneto is the first and only system that utilizes the electric properties of blood clots in order to facilitate their removal.The urgent need to invest in modern technologies for European healthcare systems is underscored by the pressing issues of stroke and pulmonary embolism, major causes of death and disability worldwide. With aging being a primary risk factor for stroke and Europe's population aging rapidly, the incidence of these conditions is poised to skyrocket.We founded Magneto in 2016, and target a total addressable market across both PE and stroke indications of €5B (EU+US markets), with a SAM totaling at €1B with device pricing aligned with reimbursement: $3-5k for stroke devices and $10k per procedure for PE.Our team includes experienced MedTech industry veterans, with specific and extensive knowledge in the cardiovascular space, and a talented and creative R&D team constantly driving the company innovation forward.At Magneto, our vision is not just about developing a device; it's about revolutionizing patient care for stroke and PE. Our ambitious goals encompass innovation, patient well-being, accessibility, clinical excellence, sustainability, and collaboration. Through our relentless pursuit of these ambitions, we are poised to leave an indelible mark on the field of thrombectomy technology, saving lives, improving outcomes, and inspiring positive change across the healthcare landscape.