Miwendo Opens Round of €4 Million after Capturing €1.6 Million from Health

Miwendo adds new financial accolades. The Catalan company, which has a solution for the early detection of colorectal cancer, has opened an investment round of €4 million, of which it has already raised €1.3 million, as detailed by Ignasi Belda, co-founder and CEO of the company.

The disbursement is in addition to the €1.6 million that it has just received from the Ministry of Health, within the framework of the Collaboration Challenges program, for a study of a thousand patients on the Miwendo product at the Hospital Ourense, el Rio Ortega de Valladolid and the Virgen del Rocío Hospital in Seville.

Miwendo, based in Barcelona, ​​has developed a device focused on improving the detection of malignant polyps that appear in colorectal cancer. The product automates tumor detection by issuing an alarm when a polyp is detected at the end of the digestive tract, increases the field of view to 360 degrees, and is intended to provide quantitative tissue classification without altering a current clinical practice.

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Miwendo already raised €4.1 million in 2020

In November, the company developed a first clinical study, and will now work on a second, both at the Hospital Clínic in Barcelona. The device, which the company plans to market in Spain in 2024, will immediately jump to the various European markets, with which the group is already establishing agreements, such as Germany, the Netherlands, Belgium, France, and the Nordic countries, as well as the United States.

In 2020,  Miwendo raised €4.1 million, in a round that received a grant from the European Commission and was led by Banc Sabadell, through BStartup. In this way, Miwendo financed the preclinical phase of its trials and also incorporated CaixaBank and the Botín Foundation, associated with Banco Santander, into its shareholders.

A year ago, the company also raised €900,000 from the European Commission (EU), which, added to the various private injections, put the total raised by the company at more than seven million.

Miwendo counts among its shareholders Banco Sabadell, Caixabank, and Banco Santander

The company was founded in 2013 as a spin-off of the Polytechnic University of Catalonia (UPC). Its creators were Belda, Marta Guardiola, technical director, and Glòria Fernàndez Esparrach, medical director. Currently, the start-up currently has 17 employees. 

Worldwide, 1.4 million cases of colorectal cancer are diagnosed each year. This disease can be cured in more than 90% of cases if precancerous polyps are detected and removed. Colonoscopy is considered the most effective method and the only one capable of removing polyps in the entire colon.

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(Featured image by geralt via Pixabay)

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