New Born Solutions Raises €5.6M to Reach the European Market
The company, founded in 2015, although the project started in 2017, raised $601,000 (€600,000)in January 2021 to start the process of clinical validation of its device. New Born Solutions plans to make the leap to the United States in 2024. By the end of 2023, coinciding with its market launch, the startup plans to open another round of financing with a larger economic volume
New Born Solutions has once again raised capital. The Spanish startup has raised $5.61 million (€5.6 million) to complete the clinical validation process of its device and reach the European market.
Of the total amount, $4.51 million (€4.5 million) come from the European Innovation Fund program, of which more than half are non-refundable grants. Another $1.1 million (€1.1 million) came from the closing of a financing round. The names of the investors have not been disclosed, although “they come from the healthcare sector,” explained Javier Jiménez, founder and CEO of the company.
The biotech company will carry out the last phase of clinical validation of its product this summer, which it hopes to market in the European Union by the end of 2023. The company specializes in developing rapid detectors of infections in superficial body fluids. The company’s technology aims to be non-invasive for cost-effective detection and monitoring. #
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New Born Solutions plans to market its products in the European Union by the end of 2023
New Born Solutions’ first product is Neosonics, a medical device that enables non-invasive testing for meningitis in infants. With the capital raised, the company will also boost its second product line, aimed at adults, which focuses on other ophthalmological and abdominal infections, among others.
By the end of 2023, coinciding with its market launch, the startup plans to open another round of financing with a larger economic volume. In this case, the objectives will be to bring in institutional investors and to scale up the commercialization of all its products.
New Born Solutions raised $601,000 (€600,000) in 2021 to start the process of clinical validation of its device
The company, founded in 2015, although the project started in 2017, raised $601,000 (€600,000)in January 2021 to start the process of clinical validation of its device. New Born Solutions plans to make the leap to the United States in 2024.
New Born Solutions has doubled its workforce in recent months and has reached ten employees. It is currently based at the Barcelona Science Park and has its own laboratory in this facility. In addition, the start-up collaborates with the Hospital Universitario La Paz, the Hospital Materno Infantil Sant Joan de Déu, Quirónsalud, two hospitals in Mozambique, and another pediatric hospital in Rabat (Morocco).
(Featured image by Belova59 via Pixabay)
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