New Born Solutions has closed a financing round of $730,000 (€600,000) to carry out the clinical validation of its device. The objective of the operation was to give entry to two investors, whose names have not been disclosed. “The investors come from the healthcare sector, enter the company with similar capital, and have the capacity to market the device in Spain,” explained Javier Jiménez, founder and CEO of New Born Solutions.
The startup will carry out the clinical validation of its product in 2021 in order to obtain the efficacy results to face the regulatory approval, expected in 2022. The company specializes in developing devices to enable rapid detection of infections in surface body fluids. The company’s technology is intended to be non-invasive for the detection and monitoring of infections in a fast, simple, and cost-effective manner.
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New Born Solutions plans to face regulatory approval of its device in 2022
New Born Solutions’ first product is Neosonics, a medical device that allows for non-invasive testing to detect meningitis in babies. Neosonics is a precision-engineered system that uses high-frequency ultrasound to count white blood cells in the cerebrospinal fluid.
New Born Solutions will conduct testing this year to validate, on a smaller scale, the applicability of its device in other areas. Jiménez said they will conduct research on abdominal fluid infection at Bellvitge Hospital and another eye infection at Can Ruti Hospital. After this round of financing, the fourth of the Spanish company, Jiménez will continue to hold the majority of the shares. The CEO of New Born Solutions assured that “we will look for three million euros at the end of this year to implement 2022 and 2023.”
The company will have already validated the technology of its device in a first application, meningitis, assessed its applicability in other areas, carried out the scaling of the business and the structure to be able to manufacture. The company will use these funds to manufacture the devices and bring them to market in Europe, while also conducting a clinical trial in the United States.
The Spanish company will seek $3.65 million (€3 million) by the end of 2021
New Born Solutions plans to make the jump to Europe at the beginning of 2023 and to the United States in 2024. The company, founded in 2015, although the project started in 2017, has so far raised $3 million (€2.5 million). Recently, the company has raised $48,600 (€40,000) after winning the EIT Health Catapult in the Medtech category. The startup was promoted by Jiménez and Pablo García. The company has five workers and in February will move to a larger laboratory in the Barcelona Science Park, where it was already located.
The company is also collaborating with the Hospital Universitario La Paz, the Hospital materno infantil Sant Joan de Déu, Quirónsalud, two hospitals in Mozambique and, from May, another pediatric hospital in Rabat (Morocco).
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