Breast cancer detection technology developer First Warning Systems said it has received an initial investment of $540,000 as the lead-in to a funding round of $10 million.
The initial investment group consisted of a syndicate of investors primarily from Singapore, as well as Steven Welch, a private investor in Reno, NV, according to the company. The funds will be used to file a U.S. Food and Drug Administration (FDA) class II 510(k) application for its technology.
The firm's BioMedia system employs a small data collection device that is placed under a bra to collect two to 12 hours of breast cell data. It then measures circadian rhythm-based temperature variances of cell cycles to identify abnormalities at the earliest stages of cell augmentation. These results are transferred through a smart device to a global cancer library, First Warning said.
