UE LifeSciences Raises $3M in Series A Funding

ibreastUE LifeSciences, a Philadelphia, PA-based health technology developer, raised $3m in Series A funding.

The round was led by Aarin Capital, with participation from Unitus Seed Fund.

The company intends to use the capital to expand trials and setup manufacturing in India as well as to build distribution networks through public and private primary care providers across India.

Led by Mihir Shah, Founder & CEO, UE LifeSciences is advancing a portable iBreastExam device having the potential to provide Indian women with access to a breast health examination and to early detection of breast lesions.
The hand-held breast health examination device is US FDA cleared, painless and radiation-free. It can also be operated by nurses and social workers to provide standardized breast exams with instant results at the point-of-care.
iBreastExam uses patented ceramic sensors invented at Drexel University, USA to detect subtle variations in breast tissue stiffness. Tumors being stiffer than normal breast tissue are detected in real-time by this novel sensor.

The company is in talks with various diagnostics chains, home healthcare providers, NGOs and governmental agencies to bring iBreastExam to women in both urban and rural India. It is also working closely with PATH, an international nonprofit organization and a leader in global health innovation for women and children,, and is setting up local manufacturing for the product in India.

FinSMEs

26/09/2015

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