Parisian startup revolutionising skin cancer screening raises €5 million to accelerate European rollout

Skin cancers affect over 5 million people worldwide each year and patient prognosis continues to be highly dependent on the timing of diagnosis. Attempting to speed up the diagnosis process is Paris-based medtech company Damae Medical. It has raised a €5 million Series A financing to reinvent skin imaging. The round was led by BNP Paribas Développement and followed by the historical investors Kurma Partners and Paris Saclay Seed Fund.

The platform is revolutionising the screening, management, and follow-up of skin cancers (melanoma and carcinoma) with its deepLive solution, which provides an accurate, fast and reliable optical examination without performing a biopsy. The fresh capital will enable further investments in the optical field and in the cloud and AI solutions. The company is continuously working to improve imaging capabilities by providing new features and diversifying the clinical indications addressable with deepLive. The development of web applications will open the possibilities of telemedicine and teledermatology. The platform will also develop, in close collaboration with dermatologists, AI solutions to improve the detection and visualization of skin structures in 3D, but also to help in the diagnosis of skin cancers.

Anaïs Barut, co-founder and CEO of Damae Medical said: “The primary ambition of Damae Medical and our deepLive medical device is to revolutionise the management of skin cancers. This is what we have achieved by collaborating with the best academic hospitals around the world. Our goal is to provide dermatologists with the information they need to manage patients early, efficiently, and non-invasively.”

The medtech firm intends to accelerate its commercial development in Europe, with major efforts in France, Germany, and Italy where traction has been strong since the commercial launch in 2020. In parallel, medico-economic impact studies will assess the cost-effectiveness benefit of the deepLive solution. Outside Europe, it will continue international deployment by preparing the ground for the American and Australian markets through its clinical studies already underway. The funds invested will be used to structure and strengthen the teams by seeking the most competent profiles to meet the challenges ahead.