Miwendo receives funds from the European Union (EU) to advance in cancer detection. The Catalan company has received $987,000 (€900,000) from the European Commission, as explained Ignasi Belda, co-founder and CEO of the company.
The Barcelona-based startup will invest the money received in launching the second version of its device, a prototype focused on improving the detection of malignant polyps that appear in colorectal cancer. Thanks to its product, a microchip that adapts to the colonoscope and improves traditional diagnosis, the company expects that nearly 100,000 lives could be saved in the EU.
The device 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 aims to provide quantitative tissue classification without altering current clinical practice.
Read more about Miwendo and its anti-cancer device with our companion app. The Born2Invest mobile app brings you the most important financial news of the day so you can stay informed.
Miwendo has patented its product in Spain, France, Italy, Germany, the United Kingdom, the United States, and Japan
In 2020, Miwendo raised $4.5 million (€4.1 million) from the European Commission and Banco Sabadell, which it has used to finance the preclinical phase of its trials. In fact, the clinical-stage will also be financially supported by the capital from this round. For this reason, “the $987,000 (€900,000) received in 2022 will be used to improve the current version of the product,” explained Belda.
Miwendo has patented its product in Spain, France, Italy, Germany, the United Kingdom, the United States, and Japan. Belda expects the product to go to market in 2024, when the company has received all the relevant approvals and agreements have been reached with the various distributors.
The priorities are the United States, as it is the country with the highest number of colonoscopies, and Japan. On the other hand, the interest in the Asian country is due to the fact that it is the world’s leading manufacturer of colonoscopes, according to Belda.
The company was founded in 2013 as a ‘spin-off’ of the Universitat Politècnica de Catalunya (UPC)
Colorectal cancer is the most prevalent cancer in Spain and, worldwide, 1.4 million new cases 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 throughout the colon.
The company was founded in 2013 as a spin-off of the Universitat Politècnica de Catalunya (UPC). Its creators were Belda, Marta Guardiola, technical director, and Glòria Fernàndez Esparrach, medical director. The start-up currently has seven employees and around fifteen collaborators.
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.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [++ KuCoin Affiliate Program Review]
This week, we answer the two questions on everyone’s lips — What do SJWs and e/accs have in common? And...
BIPV Boom: By 2032, Building Integrated Photovoltaics Will Be Worth Over $143B
The next moves by the European Commission and the trend toward a real estate stock composed of Zero Emission Buildings...
French Fintech Company Qonto Launches SME Financing in Italy
Qonto is expanding its financial solutions for SMEs and professionals in Europe, launching the option for companies in Italy to...
Trusters and Leone Investments Finally Receive Approval Under EU Regulation
After almost a month under the new EU Regulation, two platforms, including the historic Trusters launched in 2018 and the...
Coinbase Wallet Has a New Feature: Send Crypto via Web Link
The exciting part is actually in the small print: This is because Coinbase covers the fees for transactions via stablecoin...
Impact Investing1 week ago
Hi-Tech Buoy to Clean Up the Seas Created by Jelter
Crypto2 days ago
LUNC Capitalization Exceeds $1 billion – How High Will the Price Go?
Biotech2 weeks ago
Novo Nordisk Invests €2.1 Billion in Its French Plant
Crowdfunding1 week ago
Recrowd, Real Estate Lending Platform, Finally Gets European Authorization