FrontWave Imaging Secured €3 Million in Funding and Looks to the US and China

FrontWave Imaging is preparing its launch on the market. The Catalan startup has secured funding close to €3 million for the development of its UBIware software, a device that uses supercomputing, ultrasound data and algorithms to provide high-resolution images of the breast. Susana Castel, executive director of the company, said that they hope to close their second round of financing in November for a figure of no less than €600,000.

This new campaign has been opened on the Capital Cell platform, with the aim of financing clinical validation at the Vall d’Hebron Hospital in Barcelona. As announced by the firm, it is planned to install a USCT data machine, from where the results will be compared with classic imaging methodologies. Castel adds that “the investment will also allow the regulatory processing of patents to begin in the United States and China, where the hardware machines are already being marketed.”

Among the firm’s main investors are Farside, who through his vehicle 101 Ventures has practically acted as co-founder and co-investor of FrontWave. Castel also highlights the entry of FITalent, from the NTT Data group. Among the public funds, the European funding obtained through the QusTom project of the EIC Pathifnder of €420,000 in 2022 stands out, as well as the Neotec subsidy of the Cdti of the Ministry of Science and Innovation of €250,000 awarded this year.

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Among FrontWave’s main investors, Farside stands out, through its vehicle 101 Ventures

FrontWave highlights that breast cancer is the second most common cancer among women worldwide and represents up to 25% of all incident female cancers. With UBIware, the data obtained by machines that use ultrasound computed tomography are processed. Castel states that “ our device transforms all this data into images to facilitate the detection and diagnosis of breast cancer.”

FrontWave Imaging was created at the end of 2020 as a spin-off of the Barcelona Supercomputing Center (BSC) and Imperial College London. In 2024, after clinical research, they hope that UBIware will be named class I medical device software. The startup added that next year, it plans to open a third round of investment to finance a second clinical trial that will allow certifying the device with Class IIb.

At the end of 2021, 677 mammographs were counted in hospitals in Spain, according to the latest report from the Ministry of Health. The community that added the most devices of this high technology was Catalonia, with 121. It was followed by Andalusia, with 110 devices, and Madrid, with 96. Between the three communities, they accounted for 48.3% of the total mammography in the national territory. Ten years ago, the number of these teams was 576 throughout Spain, so the growth in this last decade has been 17.5%.

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(Featured image by marijana1 via Pixabay)

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