AI-powered imaging company Brainomix has announced the completion of a £14m Series C investment round.
The round is co-led by healthtech investors that include existing investors, Parkwalk Advisors, the UK’s largest growth EIS fund manager, and the Boehringer Ingelheim Venture Fund (BIVF), along with new investor Hostplus via the IP Group Hostplus Innovation Fund.
This new investment will enable Brainomix to accelerate its commercial expansion into the US, where the company has recently secured ten FDA clearances.
Fresh funding will also support Brainomix to advance its portfolio of AI-powered technology in new areas, facilitating faster diagnosis and increasing access to life-saving treatments.
Brainomix also plans to expand both its Oxford-based operations and global commercial team.
Dr Michalis Papadakis, CEO and Co-Founder at Brainomix, said: “We would like to thank all the investors that participated, including Parkwalk and Boehringer Ingelheim Venture Fund for their continued support, and welcome Hostplus, all of whom recognise the transformative impact that our technology can have on treatment for stroke and lung fibrosis patients.
“We will continue to harness our position and experience as a European market leader to achieve broad success in the US, helping improve patient care and access to life-changing therapies.”
A spinout from the University of Oxford, Brainomix now operates in more than 20 countries globally, including the US.
It’s AI platform Brainomix 360 Stroke automates validated imaging biomarkers to improve both diagnosis and treatment decisions.
The NICE-endorsed technology that has been deployed to more than 300 hospitals, having benefitted more than 1.5m patients.
Results show that Brainomix 360 Stroke was associated with an additional 50 per cent increase in the number of patients receiving mechanical thrombectomy, a life-changing stroke treatment reducing disability.
Brainomix has applied its AI tech to lung fibrosis, with the development and FDA clearance of its Brainomix 360 e-Lung technology to accurately predict the progression of the disease.
The company has an ongoing partnership with Boehringer Ingelheim to evaluate the real-world impact of e-Lung to improve the identification and access to treatment for people with progressive lung fibrosis.
