Fundación Botín agrees to invest € 500,000 in Innitius to begin preparing the clinical trials of the Fine Birth
In 2015, the World Health Organization quantified the number of premature deliveries worldwide by 13 million, of which 1 million will die before the first 5 years of life. Despite being an alarming figure, and being considered the second cause of infant mortality in developing countries and the first in developed countries, premature birth does not only impact our society with consequences that survivors will carry during the rest of their lives; auditory and visual problems, physical and intellectual development, in the respiratory system … and a long etcetera that makes the WHO has set the tackling of the pathology as the Millennium Goal IV.
Innitius, spinoff emerged from the collaboration between the University of Granada and the Andalusian Health System, proposes a new technology based on the use of torsional ultrasound for the early and effective diagnosis of pathologies associated with the event of birth: premature birth and induction labor.
This new device, named Fine Birth, is committed to replacing current diagnostic techniques (cervicometry and Bishop’s test), which barely have 30% reliability for specialists. In the absence of performing the regulatory valid clinical trials, it is estimated that Fine Birth will, at least, double the detection capacity of current methods. This improvement would allow the gynecologist to schedule specific treatments with time enough to help delaying, as much as possible, the time of delivery, thus minimizing the health, social and economic impact of prematurity.
Despite being a company founded at the end of 2017, the project has been working since 2012 on the development of the sensor system on which the operation of Fine Birth and the clinical application it deals with is based. After having been funded in the research stage by entities such as the Ministry of Industry and Competitiveness of Spain (MINECO), the Carlos III Health Institute (isciIII), FIBAO, La Caixa & Caixa Capital Risc Foundation, among others, Fundación Botín closed in December 2017 its commitment to the Andalusian company to close the first capital increase of the same through its Mind the Gap program.
With the contribution of € 500,000 from the Mind the Gap Program, Innitius aims to finalize the development of the device, which will be used in clinical trials valid for obtaining the CE mark; start the execution of these trials in hospitals in Granada, Barcelona and London; establish the first contacts with health systems and prepare for the industrialization of technology, with a view to a possible exit to the market in 2020.
About Mind the Gap
The Mind the Gap Program, created by the Botín Foundation in 2011, promotes entrepreneurship in the field of life sciences to enable technologies with commercial potential, developed by Spanish scientific institutions, to reach the market and generate social and economic development . To this end, it invests both financial resources (up to € 500,000 per project) and management, through the incorporation into the project of an expert advisor who provides guidance and professional support in those critical aspects that allow transforming the projects arising in the academic field into initiatives viable business.
In this regard, since 2016 the Mind the Gap Program has been implementing its investments through a new co-financing vehicle in which, in addition to the Botín Foundation, a group of private investors is participating in a pioneering initiative on the national scene that demonstrates the ability of Spanish science to attract private capital. This is allowing us to deepen a public, private and social collaboration model that improves the sustainability of our science system and multiplies the efficiency of the Botín Foundation’s social investment by three.
These two new companies are added to the five that were already part of the Mind the Gap program and that to date have attracted more than 12 million euros of private capital. In addition, in 2017 reached a joint turnover of 1,230,000 euros and maintained 48 jobs.
email@example.com www.innitius.com Rubén Molina, CEO firstname.lastname@example.org +34 664000896
I studied Building Engineering (BSc) and Structural Engineering (MSc) before recognizing the incredible opportunities Social Entrepreneurship could bring. I am a tech, health and business enthusiast dedicated to incorporating all areas in my life and business.