Periodic Reporting for period 1 - LOUISA 3D (Innovative 3-dimensional optoacoustic imaging for safe breast cancer screening)
Okres sprawozdawczy: 2019-04-01 do 2019-08-31
The problems addressed by Tomowave are those related to the need of a better diagnostic tool for breast cancer.
Breast cancer is a global challenge representing the leading cause of death for women worldwide: according to the estimates of WHO, there were over 2 million new cases in 2018, with a projection of more than 3 million individuals by 2040.
Tomowave's objective is to finalsie the development and start the commercialisation of the LOUISA-3D, the innovative Laser Optoacoustic and Ultrasound Imaging System using safe light and sound to perform an accurate breast cancer imaging with high spatial resolution. The commercialization of LOUISA-3D can substantially improve existing breast cancer screening and diagnosis, reducing the adverse physical, psychological and financial impact of performing risky screening, unnecessary breast biopsies and ineffective chemotherapy treatments.
Breast cancer is a global challenge representing the leading cause of death for women worldwide: according to the estimates of WHO, there were over 2 million new cases in 2018, with a projection of more than 3 million individuals by 2040.
Tomowave's objective is to finalsie the development and start the commercialisation of the LOUISA-3D, the innovative Laser Optoacoustic and Ultrasound Imaging System using safe light and sound to perform an accurate breast cancer imaging with high spatial resolution. The commercialization of LOUISA-3D can substantially improve existing breast cancer screening and diagnosis, reducing the adverse physical, psychological and financial impact of performing risky screening, unnecessary breast biopsies and ineffective chemotherapy treatments.
During the Phase 1 project, Tomowave has reveiwed what's the current stage of development of the LOUISA-3D and devised a feasible engineering and industrailisation plan based on updated user requirements. The company has also made plans for the device's medical validation, securing the first clinical sites to be involved in the planned clinical study.
At the same time, the company has conducted market analysis that have allowed Tomowave to improve their understanding of the business conditions affecting the commercialisation of the device in the next few years. The result consists of updated financial projections and a more reliable plan for the go-to-market phase.
At the same time, the company has conducted market analysis that have allowed Tomowave to improve their understanding of the business conditions affecting the commercialisation of the device in the next few years. The result consists of updated financial projections and a more reliable plan for the go-to-market phase.
The LOUISA-3D project requires still considerable time and investments, with the sales of the first units expected for 2022. However, once on the market, Tomowave expects the product to have a significant impact on the market but also on the company itself. Being the first product developed and commercialised by Tomowave, the long term growth and financial sustainability of the company depends on the outcomes of the project.
From a socio-economic point of view, LOUISA-3D novel imaging technique streamlines the screening and diagnostic process for the physician and the patient, providing higher quality information, quicker diagnosis and better results in patient care. The total cost of the screening will be in the range of few Euro per patient, against the expensive contrast agent used in MRI exams.
From a socio-economic point of view, LOUISA-3D novel imaging technique streamlines the screening and diagnostic process for the physician and the patient, providing higher quality information, quicker diagnosis and better results in patient care. The total cost of the screening will be in the range of few Euro per patient, against the expensive contrast agent used in MRI exams.