The Paris-Saclay Seed Fund has participated in a funding round for Damae Medical, which has developed technology to detect skin cancer without the need for biopsies.
Damae Medical, a health technology spinout of Paris-Saclay University, has secured €2m ($2.2m) in funding from investors including the institution’s Paris-Saclay Seed Fund, according to IT Espresso.
Kurma Partners has also contributed to the funding round, as did Idinvest Partners, News Invest and assorted, unnamed angel investors.
Founded in 2014, Damae Medical has developed technology that combines high-resolution tomographic imagery and algorithms to detect skin cancer without the need for a biopsy.
The technology is based on research conducted by Arnaud Dubois in the lab of Charles Fabry at the Institut d’Optique, one of the 17 establishments that make up Paris-Saclay University.
The company is aiming for commercial sales to begin in early 2018, beginning with France before expanding into Germany. Longer-term, Damae hopes to adapt the technology to other cancers, making it possible, for example, to ensure a tumour has been fully removed following surgery.
The Paris-Saclay Seed Fund is a €50m vehicle that was launched in early January 2017, when Global University Venturing took an in-depth look at the initiative.
