In Startup50 2017: UE LifeSciences is a medical device company that develops and designs easy to use and affordable point-of-care cancer screening solutions for deployment in the developing world. The company’s flagship product – iBreastExam (iBE), is a US FDA cleared non-invasive and radiation-free mobile health device that provides a painless, standardised and clinically relevant breast examination to identify lumps in the early stage of care.
Founders: Mihir Shah, Akshat Shah
Caring to keep costs low: Established in 2011, flagship innovation of UE LifeSciences, iBreastExam (iBE), which is a clinically validated, US FDA cleared and European CE marked, hand-held, non-invasive and radiation-free mobile health device, provides a painless and clinically relevant breast examination to identify breast lumps early, at the point-of-care. The company’s mission is to bring innovation yet highly cost effective technologies to help detect breast cancer in the developing world.
Driving global reach: Currently, the company’s iBE has been launched in 3 countries and the founders state that it will soon be taken to 20 countries. There are 50 or more active sites where this product has been installed to screen women. In India alone, over 20,000 women have been screened with the iBE.
In October 2015, the company raised its Series-A of US$ 3 million from Aarin Capital. The company also won a Rs. 50 lakh grant under Unitus Seed Fund’s StartHealth programme that selects India’s best early-stage health-tech startups involved in innovating for the needy population. In October 2016, UE LifeSciences raised a follow-up round of US$ 1.2 million from Kiran Mazumdar-Shaw in a round where Unitus Seed Fund also participated. These funds will be used towards scaling up the company’s commercial operations in India.
- UE LifeSciences’ iBreastExam (iBE) provides a painless and clinically relevant breast examination to identify breast lumps at the early stage
- Launched in 3 countries with over 20,000 women in India alone screened by iBE
- Plan to launch shortly in 20 countries worldwide
- In 2015, raised Series-A of US$ 3 million from Aarin Capital, also won a Rs. 50 lakh grant under Unitus Seed Fund’s StartHealth programme
- In 2016, raised a follow-up round of US$ 1.2 million from Kiran Mazumdar-Shaw in a round where Unitus Seed Fund also participated