The company 3D-Shaper is currently looking for investors. The Barcelona-based health tech company, specialized in the development of technology for bone diseases, has opened a funding round of $600,000 (€500,000) through the Crowd Angel platform.
This is a second tranche in the raising of funds, according to the company, as 3D-Shaper has recently obtained $365,000 (€300,000) from a family office, whose name has not transcended. Therefore, the total amount collected could rise to $973,000 (€800,000).
The company will use the funds to start the expansion of its product in the United States, Asia, the approval of the American Drug Agency (FDA) and to increase the equipment. The company hopes to reach break even in 2021 and that its gross operating profit Eebitda) will be $10.9 million (€9 million) in 2024.
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3D-Shaper has obtained one million euros of public funding
Beyond private funding, the company has obtained one million euros in subsidies and credits from public administrations to be able to develop its technology. 3D-Shaper has promoted the first software in the world capable of creating a three-dimensional replica of the patient’s bone structure, quickly and at low cost, allowing the precise diagnosis and monitoring of osteoporosis.
The software is an algorithmic model that creates an exact replica of the bone in 3D, which allows a better analysis and understanding of each patient’s situation. The technology is an add-on to current bone densitometry (DXA) machines, thus improving their diagnosis. 3D-Shaper is born within the Galgo Medical Group, a start up specialized in image software that includes three companies in its shareholding, within which is Inveready, one of the most important venture capital managers in Spain. These three companies are Adas 3D, Ankyras and Sylvius.
The company hopes to reach an agreement with Hologic in 2021
The company’s business model is divided into three. 3D-Shaper sells its software to DXA machine manufacturers, markets them to hospitals and performs research and development (R&D) services to pharmaceutical companies. Every year 5,000 DXA machines are sold worldwide and there are 50,000 distributed.
The next goal of the start up is to reach an agreement with Hologic in 2021, an operator that controls 40% of this market. The company is led by Ludovic Humbert, a scientist with experience in computer imaging and also co-founder of Galgo Medical. Antoni Riu is the financial director, who is the CEO of Adas 3D. In Spain alone, $3.53 billion (€2.9 billion) are allocated to this type of fracture and 66% of the cost is associated with surgery that could be prevented by early diagnosis.
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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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