AVVie and the EIC Accelerator: A Mitral Implant Stuck Preclinical

When the mitral valve leaks, blood flows backwards in the heart, and AVVie's EIC report says about 13 million Europeans are diagnosed with this mitral regurgitation, fewer than 5% of them treated. AVVie, registered in Vienna in 2018 and led by Werner Mohl, a cardiac surgeon at Vienna General Hospital, developed the Mitral Butterfly: a Nitinol frame with an artificial leaflet mesh that is folded into a catheter, anchored in the heart and holds back the valve's prolapsing rear leaflet, according to its EIC project.

The European Innovation Council granted €2,499,999 towards an €8.7 million project from February 2023 to January 2025. The final report says the team "demonstrated in the bench the feasibility of deployment", refined the implant and completed an initial hazard analysis, with design freeze "pending chronic animal implantation testing". The Austrian research agency FFG says preclinical studies in animals have run since 2023 and must be completed before clinical trials. In August 2026 P+F Products + Features GmbH acquired AVVie, replacing Institut Allergosan as its shareholder, according to North Data.

Where AVVie Stands Now

AVVie's news page lists the EIC grant in January 2023, an FFG life sciences grant, conference presentations at EuroPCR, TVT and London Valves in 2023, and a new project manager in November 2024, its most recent item. It has announced no first-in-human study, no regulatory submission and no equity round. The register shows a change of shareholder in August 2026 and share capital of €50,000; no insolvency notice has been filed.

The Technology: A Hemi-Valve by Catheter

Instead of replacing the whole valve, the Mitral Butterfly supports the malfunctioning rear leaflet while leaving the front leaflet to work normally. In January 2020 AVVie reported a 90-day chronic animal safety trial with no device-related adverse effects over an average of 12 million heart cycles per animal. The EIC project worked on the catheter-delivered version, and the report found that two to three sizes for each of the two main forms of the disease would be enough.

What the EIC Project Promised, and What CORDIS Shows

The project was to advance transcatheter mitral valve repair with the Mitral Butterfly. It produced a testing rig, a refined design, bench proof of deployment and a risk analysis. It did not reach design freeze, which was waiting on more chronic animal tests, and it planned new patent filings. CORDIS still lists the project as signed.

1. Bench deploymentShownPer final report.
2. Risk analysisDoneISO 14971.
3. Design freezeNot reachedPending animal tests.
4. First-in-humanNot startedNone announced.

The Money

AVVie had to fund 71% of the €8.7 million project itself. Its accounts are filed in Austria but not freely displayed, and it has announced no outside funding round. Its former shareholder, Institut Allergosan, and the new one, P+F Products + Features, have not published the terms of the change.

What Cannot Be Checked

Why Europe Should Care

The EIC backed a Vienna surgeon's alternative design for catheter-based valve repair. More than three years after the award, no human study has been announced, and the company's ownership has changed.

The Verdict

AVVie and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.