Luminate Medical and the EIC Accelerator: Saving Hair in Chemo

Luminate, founded in 2018 at the University of Galway, developed Lily, a portable cap that uses soft inflatable chambers to press on the scalp's small blood vessels during chemotherapy, so less of the drug reaches hair follicles and hair is kept. It was selected in the EIC Accelerator's March 2023 cut-off with blended finance and received an EU grant of €2.50 million for a €4.11 million project that ran from October 2023 to March 2026, according to CORDIS. The project was to take Lily towards market as a comfortable alternative to cold caps, which chill the scalp to as low as minus 20°C.

The only public report, to September 2024, lists safety testing in tissue and healthy volunteers, "initial efficacy" from patients in a first-in-human study, a manufacturing line for trial supply, completed usability studies, and a trial pathway agreed with the US Food and Drug Administration, according to the CORDIS reporting page. The US safety and efficacy trial of Lily, PREVAIL, started in December 2024 with 85 patients planned, according to ClinicalTrials.gov, where the record has not been updated since January 2025. In January 2026 Luminate said Lily was still in clinical trials, with market launch expected in 2027.

Where Luminate Stands Now

In January 2026 Luminate raised $21 million in an expanded Series A co-led by Lachy Groom and ARTIS Ventures, bringing its total to more than $50 million, according to Femtech Insider. The money is to launch home cancer care at 40 partner oncology clinics in the United States through its Lotus programme, which moves chemotherapy infusions from clinics to patients' homes. The company website now presents Luminate as a home cancer care provider and does not mention Lily on its home page. A second device, Lilac, for chemotherapy nerve damage, entered a 142-patient trial in October 2025.

The Technology: Pressure Instead of Cold

Hair loss is, for many patients, one of the most distressing effects of chemotherapy. Scalp cooling works for some but is painful, expensive to install and tied to the clinic. Lily applies a steady 35 to 60 mmHg of pressure through a network of air bladders to reduce blood flow to the scalp during treatment. The company claims a 31% cost saving compared with cold caps. Whether it keeps hair as well as cooling does is what the trial must show.

What the EIC Award Promised, and What the Record Shows

The award promised to bring Lily towards market. The design was completed for manufacture, a production line built, usability tested and a US trial started. No trial results have been published, the project ended without a public final report, and the device has no FDA clearance or CE mark.

1. Design for manufactureDeliveredLine set up, per report.
2. FDA trial pathwayDeliveredAgreed, per report.
3. US efficacy trialStartedNo results posted.
4. Market approvalNot yetLaunch expected 2027.

The Money

The EU paid 61% of the project. Luminate raised $5 million in 2022, according to Forbes, and $15 million in September 2024, according to EIT Health. The January 2026 round is to fund home care. Whether the EIC Fund invested under the blended finance award is not public.

What Cannot Be Checked

Why Europe Should Care

An Irish university spin-out has raised large sums from US investors, which shows the strength of Europe's medtech research. But the company's growth market is American home care, and Lily's trial is in the US. Europe funded the device; European patients may not be first to benefit.

The Verdict

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