The investment will support the company’s first-in-human clinical trial of its InvivoLPrint-U platform – the world’s first bioprinter designed to reconstruct bladder tissue directly inside the patient’s body during surgery.

Founded in 2019 as a spin-off of the Institute of Communication and Computer Systems (ICCS), PhosPrint emerged from years of research conducted at the School of Applied Mathematical and Physical Sciences under the supervision of Professor Ioanna Zergioti.

Each year, more than 150,000 patients worldwide are candidates for bladder removal (cystectomy) due to cancer. Current reconstructive procedures rely on intestinal tissue and are frequently associated with serious complications, including infections, adverse events, and significant deterioration in quality of life. PhosPrint’s innovation enables urologists to create a fully functional neobladder without these side effects by printing the patient’s own healthy cells directly onto the tissue during surgery.

A Milestone: The First Clinical Trial

Ioanna Zergioti, co-founder and CEO of PhosPrint, told Capital.gr and Forbes Greece that the investment represents a strong vote of confidence in both the technology and the team. According to her, the funding brings the company closer to completing its first clinical trial—a critical milestone, as demonstrating product safety is a prerequisite for attracting follow-on investment.

The capital will primarily be allocated to cover the substantial costs associated with conducting a first-in-human clinical study. Part of the funding will also support the maintenance and expansion of the company’s patented technology portfolio, a process that is both complex and capital-intensive.

Approval by EMA and EOF

A defining development has been the approval of the first clinical trial by the European Medicines Agency (EMA) and the National Organization for Medicines (EOF). As Zergioti explained, the evaluation process was particularly demanding because the product is classified as a combination therapy, integrating cell therapy with laser-based medical device technology. Notably, the regulatory submission exceeded 7,000 pages.

The trial will be conducted in collaboration with Laiko General Hospital of Athens and Gennimatas General Hospital of Athens, involving specialized medical teams from leading urology departments. According to Zergioti, this is one of the few Phase I studies currently being implemented in Greece – particularly for such an innovative product – underscoring the significance of the initiative.

Despite Greece’s high scientific standards, Phase I trials remain limited in number, as they require substantial risk-taking, complex coordination, and adequate funding. As she noted, the country is still in the early stages of development in this field.

Future Applications and International Expansion

Strategically, PhosPrint is continuing its research beyond bladder applications, with cartilage regeneration identified as the next clear priority. Other potential applications, including skin tissue, are also under evaluation, though no final decisions have yet been made.

International expansion will be essential for the next funding round. The second and third phases of clinical trials will require collaboration with additional hospitals abroad, as well as access to capital markets outside Greece.

The company estimates that commercial availability of the product could be achieved in approximately four years, provided that all three phases of clinical trials are successfully completed.

Secondary Products and Revenue Diversification

In parallel, PhosPrint is exploring additional revenue streams through secondary products derived from its research activities.

The company’s team currently comprises around 15 members, including external collaborators and advisors. Alongside Ioanna Zergioti, the co-founders include Dr. Apostolos Klinakis (Clinical Director) and Maria Pallidou (CFO).

Source: Forbes Greece

Transforming Regenerative Surgery

Each year, more than 150,000 patients worldwide are eligible for bladder removal (cystectomy) due to cancer. Current reconstructive surgeries rely on intestinal tissue and often cause severe side effects such as infections, metabolic complications, and reduced quality of life. PhosPrint’s innovation enables Urologists to create a fully functional, side-effect-free neobladder through the printing of a patient’s own healthy bladder cells directly onto tissue during surgery. In extensive pre-clinical studies in pigs, this approach restored normal bladder function with none of the known complications of conventional orthotopic neobladder surgery.

“Current surgical approaches of bladder cancer seriously downgrade patients’ quality of life” said Professor Ioanna Zergioti, CEO of PhosPrint. “Our InvivoLPrint-U innovation eliminates the side effects of current surgical options, offering patients a fully functional, side-effect-free neobladder. This investment brings us one step closer to the clinic and to transforming the field of regenerative medicine”.

Co-founder Dr. Apostolos Klinakis (Clinical Director) and Maria Pallidou (CFO) highlight the platform’s versatility which extends beyond bladder reconstruction, and is applicable in numerous indications including cartilage and heart repair, addressing multi-billion-euro global markets.

Backed by leading investors

“PhosPrint is breaking new ground at the intersection of bioprinting, laser technology, and regenerative medicine”, said Dr. Stefanos Capsaskis, Partner at Corallia Ventures. “We are proud to back a world-class team whose breakthrough platform has the potential to redefine outcomes for millions of patients worldwide”.

Dr.  Lars Rasmussen added: “I’m beyond proud to be backing Ioanna and her talented team! PhosPrint has likely invented the first successful bladder replacement procedure, which will likely be the first approved surgical procedure involving a bioprinter. And that’s just the beginning of what their impressive technology has in store!”

Next steps and global potential

The newly secured funds will enable PhosPrint to:

• Complete its first-in-human trial application this year;
• Launch patient trials in 2026 at leading European hospitals;
• Expand its team of biologists, engineers, and regulatory experts;
• Develop benchtop bioprinters for R&D labs as an early revenue stream starting in 2026.

The company is targeting EMA and FDA approval by 2029, with initial market entry planned in Europe and the US.

About PhosPrint

Founded in 2019 as a spinoff of the Institute of Communication and Computer Systems (ICCS) of the National Technical University of Athens (NTUA), PhosPrint develops cutting-edge in vivo laser bioprinting solutions for tissue repair. Its flagship platform, InvivoLPrint-U, enables the direct printing of live autologous cells during surgery, offering unprecedented outcomes in bladder reconstruction and beyond. With 5 patent families, proprietary manufacturing know-how, and a team of leading scientists in laser physics, biomedical engineering, and clinical research, PhosPrint is shaping the future of regenerative medicine.

For more info visit: www.phosprint.eu/

The Koropi premises feature state-of-the-art office spaces and cutting-edge research labs, dedicated primarily to Industry 5.0 applications and the testing of pioneering innovations. These new facilities will empower our researchers, fostering creativity, collaboration, and the development of groundbreaking technologies that push the frontiers of science and engineering.

The opening celebration was led by Dr. Angelos Amditis, Research and Development Director of ICCS and Director of I-SENSE, who welcomed attendees and shared his vision for the future. Short speeches were given by Prof. John Psarras (ICCS’s Director), Professor P.Tsanakas (Dean of the School of Electrical and Computer Engineerings/NTUA) who backed the effort, Dr. Giannis Karaseitanidis (I-SENSE Technical Director) and Dr. Georgios Tsimiklis (Research TMAT) whose commitment, hard work, and hands-on involvement were crucial in bringing the new premises to life. Everyone highlighted how important this new space is for the Greek research community.

Beyond a significant achievement for ICCS, the Koropi site represents a landmark development for NTUA and the broader academic ecosystem. It will also host the innovative activities of CogniSensus, a dynamic new spin-off of ICCS. Born from years of intensive research by the I-SENSE group, CogniSensus is set to revolutionize sensing, data modeling, visualization, and actuation technologies. These solutions aim to enhance decision-making, operational efficiency, and training in complex environments.

This expansion marks a pivotal milestone for ICCS, laying the foundation for continued excellence, innovation, and societal impact in the years to come.

The creation of QRBIT was formally approved by the NTUA Administrative Council (05/06/2025) and the ICCS Board of Directors (02/05/2025). Notably, ICCS and NTUA are participating in the company’s share capital through the NTUA Special Account for Research Funds and ICCS, further solidifying their commitment to innovation and technology transfer.

QRBIT was co-founded by ICCS researchers Dr. Ioannis Giannoulis, Dr. Aristeidis Stathis, and Mr. Argyrios Danos, with the invaluable support of ECE faculty members Prof. Iraklis Avramopoulos (Head of PCRL), Prof. Athanasios Panagopoulos, and Asst. Prof. Dimitrios Apostolopoulos. The spin-off builds on the strong foundation of cutting-edge research and innovation developed within ICCS/PCRL in the areas of photonic communications and quantum cryptography.

QRBIT’s mission is to pioneer hardware and software solutions for quantum satellite communications, with a focus on:

• Designing and developing photonic components and systems for Quantum Key Distribution (QKD) in free-space and satellite links.
• Creating advanced ground station and telescope infrastructures for both classical and quantum communication applications.
• Developing software tools for the design, optimization, and management of laser-based classical and quantum satellite missions.

The establishment of QRBIT reflects ICCS’s strategic vision to foster entrepreneurial initiatives and promote the translation of research into real-world technological advancements. Through this new venture, ICCS strengthens its role in the global ecosystem of quantum and optical communications.

Let us extend our warm congratulations to the founders of QRBIT and wish them great success in this exciting endeavor!

This important recognition celebrates our innovative work in robotic-based sorting systems for sustainable waste management, as presented at the “Sustainable Robotics” workshop during the forum.

Our awarded system integrates three key technological pillars:

• Autonomous robotic platforms
• AI-powered data fusion
• Advanced multi-sensor agents

Together, these technologies are transforming waste sorting and recycling, driving greater use of recycled materials in production chains while significantly reducing environmental impact.

By combining agile industrial sorters with collaborative robotics, our solution maximizes resource recovery and minimizes the environmental footprint of waste management operations. Beyond operational benefits, our approach advances the sustainability of robotic systems themselves—through energy-efficient design, lifecycle assessment, and material circularity—promoting environmental protection, economic efficiency, and social inclusion across urban and industrial environments.

This achievement is a proud milestone in our ongoing mission to fuse innovation with sustainability, delivering real-world impact through next-generation technologies.

Details of this innovation, and how it was categorised by the analysis, are as follows:

• Innovation Title: 5G and IoT Platform in Port Operations with NFV-MANO support;
• Market Maturity of the Innovation: Tech Ready (more details on this categorisation are provided here);
• Market Creation Potential of the innovation: Addresses needs of existing markets (more details on this categorisation are provided here);

The Innovation Radar platform builds on the information and data gathered by independent experts involved in reviewing ongoing research and innovation projects funded by the European Commission. The aim is to make information about EU-funded innovations from high-quality projects visible and accessible to the public via the EU’s Innovation Radar platform. This will show citizens the many excellent technological and scientific advances being delivered by researchers and innovators around Europe, funded on their behalf by the European Commission.

Join us for valuable networking and inspiration, that will boost collaboration. It will be a great opportunity to connect with EIT Digital members, gain insights, and built new partnerships.

Formal invitations and event agenda will follow.

We look forward to welcoming you on this special occasion!

Find more and Register for the Event HERE

Can we imagine and create an ecosystem that connects excellence and innovation without exclusions? What do Greek universities need to produce innovation for a global audience, but with a focus on their own strengths and the enhancement of local communities? What does innovation mean for research and how can we unleash the power that knowledge communities hold?

The Onassis Foundation, the Sectoral Scientific Council (SSC) of Technology Transfer and Intellectual Property of the National Council for Research, Technology and Innovation (NCRTI) and the Uni.Fund organized for the second year a series of workshops on the Business Exploitation of Research and the Technology Transfer in Greek Universities and Research Centers. From December 2022 to April 2023, four separate workshops were held at the Stegi and the Technology Transfer, Innovation and Entrepreneurship Unit (ACEin) of the Athens University of Economics.
Watch the videos here and discover the topics below:

Workshop #1 | 08.12.22
Who Has the Responsibility of Managing Intellectual Property

Who is responsible for managing intellectual property? What are considered good and bad practices? What is the best strategy for the most direct and highest quality development of the innovation ecosystem in Greece? How does Intellectual Property lead to value creation for all involved parties? The workshop aims to answer these questions and to bring together the technology transfer community at the Stegi of the Onassis Foundation once again, continuing its tangible support for innovation as a means to unleash forces and create value for all.

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Workshop #2 | 26.01.23 
Technology Transfer Regulations and the Role of Technology Transfer Offices

Following the completion of the first period of operation of the Technology Transfer Structures, the second workshop of the 2nd Tech Transfer cycle examines the issue of the implementation of Technology Transfer Regulations and the role of Technology Transfer Offices and collaborative structures in research and university institutions. Six Technology Transfer Structures discuss issues and prospects in the field of research and innovation, their experiences from the new regulatory system as well as their suggestions for how we can achieve synergies and significantly enhance the Greek innovation system in universities and research centers.

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Workshop #3 | 16.02.23
Sustainability, Structure Financing and KPIs

How does research activity change as a result of the introduction of technology transfer structures and how can we imagine the field of research and innovation in the next decade as a result of these structures? The Onassis Foundation, continuing its presence in the field of innovation, together with the research and business ecosystem, seeks the appropriate ways and conditions for technology transfer actions to be able to bring about the substantial impact for which they have been designed. The third workshop in the series “Business Exploitation of Research and Technology Transfer” poses the essential question of how we see the future of Technology Transfer Structures over time, as well as how we can assess their success or failure. As the first phase of introducing the Technology Transfer Structures into the Greek system of research and innovation is completed, it is the right time to talk, not only about the desired, but also about the feasible, always aiming at unleashing forces and developing a sustainable environment for research and innovation.

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Workshop #4 | 07.04.23
The Next Day for the Technology Transfer Offices and Structures

What is the next day for Technology Transfer Structures in Greece? How can Technology Transfer Structures become truly sustainable and how do we see them evolving in their new phase of operation? What do we expect from the next Sectoral Scientific Council (SSC) and what can be the evolving role of Intellectual Property in supporting innovation in the Greek research ecosystem? As innovation support and management infrastructures mature and become increasingly targeted, it is necessary to collectively see how we can enable them to maximize their effectiveness and reciprocation in society and the economy.

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WHAT IS TECH TRANSFER?

Tech Transfer refers to a series of workshops addressing how the Business Exploitation of Research and Technology Transfer in Greece can be supported. The four meetings to be held at Stegi are a continuation of the Tech Transfer webinar series co-organized by Uni.Fund and the Onassis Foundation during the period November 2020 – May 2021.

In the second Tech Transfer, through four meetings, a creative dialogue opens up around how research conducted at Greek universities and research centers can be specifically supported by the new Technology Transfer Structures to lead to products and services, how it can be protected by patents and other intellectual property tools, and how it can ultimately generate value for all parties involved.

Under the auspices of the Ministry of Development and Investment and the Ministry of Education and Religion. Co-organized by the Technology Transfer Structures Science Agora, Archimedes NKUA, GNΩSI, Speira, and AUTh – Democritus University of Thrace.

Proposals from the Sector Scientific Council (SSC) for Technology Transfer and Intellectual Property:

Intellectual Property – Proposals for legislative and organizational interventions

Directions for the development of a Technology Transfer Regulation

Completion of provisions of Law 4957/2022 by the Ministry of Education

The Startup Challenge is aimed at start-up companies using photonics technologies in health, and award-winning companies are selected after two evaluation steps, including a pitch competition. PhosPrint was recognized for its novel laser bioprinting technology that repairs in vivo human tissue during surgery,

About 3000 companies participate in this conference and it is one of the largest scientific events in photonics.

Warmest congratulations to Prof. Zergioti and the PhosPrint people for this significant and very promising distinction.