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MammoCheck Secures A €500,000 SEED Grant From The RIF To Advance Toward FDA 510(k) Clearance And EU MDR CE Marking

by News Editor

August 4, 2026

The project is co-funded by the European Union and the Republic of Cyprus under the Cohesion Policy Programme THALIA 2021–2027. Frederick Research Center is participating as a partner organisation, continuing the company’s roots as a spin-out of Frederick University.

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NICOSIA, CYPRUS, July 31, 2026. MammoCheck Ltd, a Cyprus-based medical technology company founded as a spin-out of Frederick University, has secured a €500,000 grant under the Research and Innovation Foundation’s (RIF) SEED programme.

The competitive grant will support the continued development of the company’s adjunctive, research-validated software platform, which combines thermal imaging with artificial intelligence to support breast cancer screening. More specifically, the funding will support the clinical, quality management and regulatory work required as the company advances toward FDA 510(k) clearance in the United States and CE marking under the EU Medical Device Regulation (MDR 2017/745).

The RIF’s SEED programme supports innovative Cypriot start-ups developing internationally competitive products and services. It is co-funded by the European Union through the European Regional Development Fund and the Republic of Cyprus under the Cohesion Policy Programme THALIA 2021–2027.

For MammoCheck, the funding will support completion of its clinical programme, further development of its quality management system in line with ISO 13485, and preparation of the technical documentation and submissions required for the FDA and EU MDR regulatory pathways.

About MammoCheck

MammoCheck is developing a Software as a Medical Device (SaMD) platform that combines a smartphone application, thermal imaging and a proprietary artificial intelligence algorithm to support breast cancer screening.

Founded in 2024 as a spin-out of Frederick University, the company aims to address unequal access to screening. Mammography coverage remains highly uneven worldwide and has been reported as low as 1.7% in some countries, including among many women under the age of 45 who fall outside most national screening programmes.

The platform is being developed for use in primary care and gynaecology settings, as well as for guided home use, with every result reviewed by a clinician. It is intended to complement, rather than replace, established imaging modalities such as mammography and ultrasound.

MammoCheck is currently conducting a clinical study across hospital sites in Cyprus, approved by the Cyprus National Bioethics Committee.

The Role Of Frederick University

Frederick University continues to support the initiative as the institution from which MammoCheck originated. The collaboration also continues through the participation of the Frederick Research Center as a partner organisation in the funded project.

The centre contributes specialised expertise and infrastructure through its Nursing Department and the Mobile Devices Laboratory, focusing on artificial intelligence, smart systems and scientific dissemination. The collaboration strengthens the connection between Cypriot academic research and internationally oriented innovation.

The Frederick team supporting the project includes Dr. Andreas Constantinides, Associate Professor and Director of the Mobile Devices Laboratory, Dr. Evanthia Asimakopoulou, Assistant Professor in the Nursing Department, and Dr. Elena Papoui, Visiting Lecturer in the Nursing Department.

What The Grant Means

The award adds to a period of continued momentum for the company. Alongside its clinical and regulatory progress, MammoCheck is conducting a private investment round to accelerate commercial deployment as it advances toward key regulatory milestones.

The company also holds a Certificate of Innovative Enterprise from the Cyprus Deputy Ministry of Research, Innovation and Digital Policy, allowing eligible investors participating in the funding round to benefit from tax incentives under Cyprus’ innovation investment legislation.

Statements

“Securing €500,000 in competitive, non-dilutive funding is a strong vote of confidence in our vision, our team and our mission. It allows us to focus on what truly matters right now, turning that vision into reality, step by step, as we move steadily toward FDA 510(k) clearance and CE marking under the EU MDR,” said Alexandra Dimitriadou, Co-Founder and CEO of MammoCheck.

Athina Grigoriou, Co-Founder and CRO, added: “Our clinical programme is at the heart of this project. This support strengthens the study we are conducting across hospital sites in Cyprus and the evidence base behind every step of our regulatory pathway.”

Marios Pafitis, Co-Founder and CTO, said: “Working alongside the Frederick Research Center brings academic rigour to our engineering. This grant helps us take the technology from promising research toward a rigorously engineered and clinically validated product.”

The MammoCheck co-founding team, Alexandra Dimitriadou, Marios Pafitis and Athina Grigoriou, was named to the Forbes 30 Under 30 Greece list in 2026.

The MAMMOCHECK project (SEED/0525(B)/0102) is implemented under the Cohesion Policy Programme THALIA 2021–2027 and is co-funded by the European Union through the European Regional Development Fund and the Republic of Cyprus via the Research and Innovation Foundation.

The Future Forbes Realty Global Properties

Retail’s AI Push Faces A Cybersecurity And Regulatory Reality Check

by THEFUTURE.TEAM

October 19, 2026

Artificial intelligence is becoming a strategic priority for retailers, with 80% of retail leaders planning to increase investment in the technology, according to EY’s latest CEO Outlook Survey. However, growing concerns over cybersecurity, customer privacy and regulation could complicate adoption across an industry already facing inflation, geopolitical uncertainty and changing consumer expectations.

Confidence In AI Comes With Risks

The survey found that 80% of retail leaders are confident in their ability to expand the responsible use of AI and customer data. Retailers are increasingly applying the technology to demand forecasting, inventory management, customer service and personalised marketing, seeking to improve efficiency and respond more quickly to market changes.

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Yet adoption brings new vulnerabilities. EY found that 24% of retail leaders identified cybersecurity and data privacy as a leading business risk for the year ahead. Retailers manage sensitive customer information, payment systems and complex supply chains, making effective security and governance essential as AI becomes more deeply embedded in their operations.

The World Economic Forum’s Global Cybersecurity Outlook 2026 highlights the wider challenge: 87% of organisations reported rising cyber risks linked to AI vulnerabilities, while 94% expected malicious AI to have a significant impact on cybersecurity in 2026.

Regulation Will Shape AI Adoption

Regulatory frameworks are also influencing how quickly retailers can expand their use of AI. The European Union’s AI Act, China’s state-led governance model and measures introduced by individual US states are shaping the rules around the technology.

For retailers, compliance is becoming a strategic consideration, particularly for customer-facing applications that use personal data to personalise offers, automate interactions or analyse consumer behaviour. Regulatory missteps could carry significant costs in a sector where customer trust is critical.

EY Outlines Four Possible Futures

EY recommends that retailers plan for multiple outcomes rather than assume the current investment boom will continue uninterrupted. Its analysis draws on a four-scenario framework developed by Jim Dator of the University of Hawaii.

One scenario envisages constrained AI adoption as economic pressures, regulation, cyberattacks, legacy systems and poor data quality limit progress. Retailers in this environment may prioritise lower-risk back-office applications, such as finance, procurement, inventory and logistics, while customer-facing tools face resistance.

A second scenario anticipates continued growth, with sustained investment and widespread adoption. A third envisages deeper economic and social transformation as technology reshapes business operations. The fourth considers systemic breakdown, in which a small number of technology platforms control access to AI models and charge premium prices, potentially making advanced capabilities less accessible even to large retailers.

Governance Will Determine Competitive Advantage

EY’s findings suggest that investment alone will not determine which retailers benefit most from AI. Companies will also need robust cybersecurity, effective governance and strategies that can adapt to different economic, technological and regulatory conditions.

For a sector operating on tight margins, the challenge is to turn AI investment into lasting business value while managing the risks that come with greater dependence on the technology.