The medical device startup Newborn Solutions raises €5.6 million
Newborn Solutions -focused on the development of non-invasive technology for detection and monitoring of infant meningitis and other infections in serous body fluids- has raised €4.5 million in the first 2022 EIC Accelerator cut-off. A private equity investment round of €1M€ brings to €5.6 million the total capital achieved by the startup, based in the Barcelona Science Park. The new funding guarantees the growth of the company’s activity for the next three years, and the market launch phase estimated by the end of 2023 in Spain.
In the first 2022 EIC Accelerator cut-off, out of the over 1000 start-ups and SMEs that presented their proposal at the first stage, only 266 companies reached the final interview stage by juries of experienced investors and entrepreneurs. Finally, 74 high potential startups were selected, which will receive funding in a combination of grants and equity investments through the EIC Fund, depending on their needs. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors.
Newborn Solutions is the only Spanish company belonging to the healthcare sector in this cut-off, and has raised €4.5 million: €2.5 million in grant, and the rest in equity funding. “Being one of those 74 companies is a true recognition of the work we have done since Newborn Solutions was founded, and an encouragement of our vision and strategy for the years ahead. It is a privilege to count on the EU’s support for innovation in deep tech, and to be part of a larger vision of improving healthcare through disruptive and global impact technologies”, says the company’s founder & CEO, Javier Jiménez.
Neosonics: non-invasive medical device for infant meningitis
Newborn Solutions is developing Neosonics, a unique cell counting device that enables screening and monitoring of infections in serous body fluids with a primary focus on patient with suspected infant meningitis, in a quick, easy and non-invasive solution.
Meningitis detection is challenging due to the unspecific signs associated to the infection, such as fever of unknown source, particularly in young infants and newborns with very little symptomatology, as they are the patients at most risk facing the disease. That’s why history and physical examination alone are often insufficient to confirm or exclude the diagnosis. Lumbar puncture to draw a sample of cerebrospinal fluid is an essential investigation, but difficult to perform and not risk-free for the sick infant.
Neosonics is a non-invasive first-in-class medical device, based on high-resolution ultrasounds, novel coupling material and artificial intelligence algorithms based on machine learning to support diagnosis and treatment decision. Neosonics will help to provide better care in a non-invasive way, and better management of newborns and young infants patients at risk or with confirmed meningitis.
To validate the technology under development, Newborn Solutions is conducting multicentre clinical trials and has been collaborating for several years now with experts in paediatrics, neonatology and infectious diseases. The studies are being conducted thanks to partnerships with leading centres in Spain such as the Hospital Universitario La Paz (Madrid), Hospital Quirónsalud (Madrid) and the SJD Barcelona Children’s Hospital. The Manhiça Health Research Centre (CISM) and the Maputo General Hospital in Mozambique also participate, thanks to a partnership with ISGlobal.
In addition, the startup is conducting clinical studies in other Spanish hospitals to demonstrate feasibility in several applications with serous fluid infections, specifically with the Germans Trias i Pujol University Hospital in Badalona (Barcelona) for an application in patients with suspected uveitis, and at Bellvitge University Hospital (Barcelona) for patients with suspected peritonitis.
A step further in the field of diagnosis
Newborn Solutions is also developing predictive machine learning software models exploiting big data from clinical and laboratory data. Together with white blood cell counts in cerebrospinal fluid, it will support diagnosis and treatment decisions.
This is a scalable, low-cost solution that democratises access to accurate diagnosis on a global scale.
» For further information: Newborn Solutions website [+]