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.
Read more about FrontWave Imaging and find the latest financial news of the day with our companion app Born2Invest.
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%.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Recrowd, Real Estate Lending Platform, Finally Gets European Authorization
Recrowd adopts a distinct approach for less sophisticated investors, limiting their investments to under €1,000 or 5% of their net...
Why the Amounts Invested in Belgian Fintech Companies Decreased
In 2023, the Belgian fintech sector has not witnessed any major fundraising events similar to those in previous years, such...
Bitcoin Soars 130% This Year: Will It Reach New All-Time Highs in 2024?
Bitcoin is currently trading within an ascending channel, maintaining support at $35,000, with an upward trajectory towards the psychological resistance...
ALA Diagnostics Opens a New Laboratory in Madrid After Joining BeAble Capital
ALA Diagnostics secured €1.1 million in a financing round in June, supporting its activities in the general laboratory, including Elisa...
Germany Has Finally Legalized Cannabis
Cannabis prohibition in Germany will end on March 1st, and the cultivation ban will follow later. Meanwhile, a field trial...
Cannabis1 week ago
Germany Hosts International Cannabis Forum with US Participation
Biotech1 day ago
Mediquo Is Committed to the International Market and Aims to Double Sales in 2024
Crypto2 weeks ago
Cryptocurrencies Kick Off the Milei Era with 30% Increase
Business4 days ago
Vivid Seats Acquires Vegas.com in $240M Transaction — Is Restaurant.com [RDE, Inc. | OTCQB: RSTN] Next in Line?