The Series B funding will allow the Oxford-based firm to develop its award-winning synthetic intelligence (AI) portfolio into new indications and prolong into new high-growth markets
OXFORD, UK, Dec. 16, 2021 /PRNewswire/ — Brainomix, the AI-powered medtech options firm, right this moment pronounces that it has closed a sequence B financing spherical, elevating £16M ($21.2M) to fund its growth into new markets and new therapeutic indications, together with lung fibrosis and most cancers. This funding will construct on the confirmed success of the corporate’s tech platform in stroke and allow value-generating pharmaceutical partnerships to enhance scientific trial success, foster broader adoption of present therapies within the new indications, and enhance affected person outcomes.
The financing was co-led by present traders Boehringer Ingelheim Venture Fund (BIVF) and Parkwalk Advisors, together with new investor, Tencent Holdings, and included participation from Oxford University Innovation Fund (OUIF).
Brainomix has pioneered the event of an AI platform that automates validated imaging biomarkers to enhance each prognosis and remedy choices. Its e-Stroke platform is the world’s most complete stroke imaging resolution and is already broadly adopted in a number of healthcare programs worldwide. The platform is the market chief in Europe and has been deployed throughout the UK as a part of a prestigious NHSX AI in Health & Care Award granted in 2020. It is put in in lots of of hospitals throughout Europe, US, South America, Asia the place it has been clinically confirmed to drive quicker remedy instances and enhance purposeful independence for stroke sufferers.
Alastair Kilgour, Chief Investment Officer at Parkwalk Advisors, commented:
“Over the previous decade Brainomix has created the marketplace for stroke AI imaging. As a spin-out from the University of Oxford it’s an instance of the UK’s world-leading strengths in life sciences and AI-enabled medtech, combining experience in scientific care and software program improvement with greater than 150 years’ expertise within the discipline throughout its management group.”
The funds may even allow the corporate to drive into new therapeutic areas past stroke by growing novel imaging biomarkers for higher remedy of lung fibrosis and most cancers, which have related unmet must stroke.
Over the years, Brainomix has fashioned various value-sharing partnerships, together with with Stryker Neurovascular in EMEA, Wallaby Medical in China, and the Angels Initiative, a worldwide effort centered on stroke care enchancment. The firm will construct on this sturdy monitor file with a renewed concentrate on pharma partnerships, with a possibility to embed Brainomix’s state-of-the-art know-how in scientific trials to enhance and speed up scientific trial success, and in the end obtain broader adoption.
Dr Oliver Reuss, Executive Director and Investment Manager of the Boehringer Ingelheim Venture Fund (BIVF), the company enterprise fund of the worldwide pharmaceutical firm Boehringer Ingelheim, a driving power within the discipline of stroke, mentioned:
“Brainomix has confirmed its capability to ship scalable AI-imaging options which have already demonstrated great worth to stroke sufferers worldwide. This financing will assist the corporate not solely to proceed its market adoption for e-Stroke however will allow it to develop new AI-imaging options for lung circumstances that may contribute to remodeling sufferers’ lives by growing remedy charges and medical consequence.”
Dr Michalis Papadakis, Brainomix Chief Executive Officer & Co-Founder, added:
“We welcome Tencent as a extremely skilled new investor and thank Parkwalk and BIVF, in addition to OUIF, for his or her persevering with assist. This funding spherical attracted substantial curiosity, because it was clear we’re at a really thrilling juncture in our improvement and poised for substantial development. This funding will permit us to develop our group, each at our Oxford web site in addition to globally, to assist our plans for continuous healthcare innovation and best-in-class technological improvement.”
Chair of Brainomix Prof. Jackie Hunter CBE FMedSci FBPharmacolS FRSB concluded:
“AI is reworking healthcare in a number of methods. Brainomix has a strong monitor file of delivering progressive AI options and is dedicated to positively impacting remedy charges and affected person outcomes. Its e-Stroke know-how is already impacting the lives of lots of of 1000’s of stroke sufferers worldwide and, with this new funding, it has the chance to use its experience in new therapeutic areas and to scale its enterprise mannequin to share within the worth created for pharma.”
Brainomix is an Oxford-based firm specializing within the creation of AI-enabled software program options to allow precision drugs for higher remedy choices in stroke and sure lung circumstances. Since launching as a spin-out from the University of Oxford in 2010, it has developed award-winning, AI-powered imaging biomarkers and software program options, aiding physicians internationally to make higher life-saving choices. Its e-Stroke platform gives clinicians with probably the most complete stroke imaging resolution, driving quicker remedy instances and bettering purposeful independence for sufferers. To study extra about Brainomix and its know-how go to www.brainomix.com, and observe on Twitter, LinkedIn and Facebook.
About Boehringer Ingelheim Venture Fund
Operating as a separate authorized entity, the Boehringer Ingelheim Venture Fund (BIVF) drives innovation via its strategic investments in early-stage science and know-how. With an funding quantity of 300 million Euro, the Venture Fund invests in biotech and start-up firms with progressive ideas and applied sciences which have the potential to offer ground-breaking platforms. BIVF presently holds a portfolio of greater than 40 firms and creates firms when it identifies promising analysis initiatives in college and academia. BIVF’s curiosity in younger, primarily technology-oriented firms demonstrates its dedication to research new concepts and new science to create choices for Boehringer Ingelheim to develop into new approaches and companies within the discipline of Oncology, Regenerative Medicine, Infectious Diseases and Digital Health. www.boehringer-ingelheim-venture.com
Parkwalk is the most important development EIS fund supervisor and has been the UK’s most lively investor in backing world-changing applied sciences rising from the UK’s main universities and analysis establishments over the previous 5 years. With £360m of belongings beneath administration, it has invested in over 140 firms throughout its award-winning flagship Parkwalk Opportunities EIS Fund in addition to the enterprise and innovation funds Parkwalk manages for the Universities of Cambridge, Oxford, Bristol and Imperial College. Parkwalk invests in companies creating options to real-world challenges, with IP-protected improvements, throughout a spread of sectors together with life sciences, AI, quantum computing, superior supplies, genomics, cleantech, way forward for mobility, medtech and large knowledge.
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