British medical technology company Brainomix has announced the completion of a Series B financing round with a total investment volume of around 16 million pounds.
Tencent Holdings is joining the previous investors Parkwalk, Boehringer Ingelheim Venture Fund (BIVF) and Oxford University Innovation Fund (OUIF), who are again participating in this round.
WHY IT IS IMPORTANT
Brainomix recently made the decision to refocus on pharmaceutical partnerships and accelerate global market expansion. The funding will be used specifically to extrapolate new medical indications for AI-based biomarker imaging from the established stroke platform, initially for interstitial lung disease (ILD) and cancer.
With “e-Stroke”, the Oxford specialist in biomarker imaging has developed a fully automated AI imaging solution for stroke assessment that serves two purposes: earlier diagnosis and better therapy decision.
The platform was deployed across the UK as part of the 2020 NHSX AI Health & Care Award and is also used in various healthcare systems around the world.
It automates the validation of relevant biomarkers that can prevent strokes by identifying risk factors such as cardiovascular diseases and certain metabolic disorders at an early stage.
The company and its investors now hope to accelerate precision medicine for other therapeutic areas with similar unmet needs.
THE BIGGER TREND
Brainomix was created in 2010 as a spin-out from Oxford University. Its AI-based imaging and software solutions support doctors around the world in making life-saving decisions.
The BIVF regularly invests in biotech and young companies to drive innovation in science and technology. UK investor Parkwalk has invested in over 140 companies, supporting technology from leading UK universities and research institutes, while Chinese investor Tencent has invested primarily in innovation and technology across the internet industry.
ON THE RECORD
“Brainomix has demonstrated its ability to deliver scalable AI imaging solutions that have already proven tremendously valuable to stroke patients around the world,” said Dr. Oliver Reuss, Executive Director and Investment Manager of the BIVF.
He continued, “This funding will not only help the company further bring e-Stroke to market, but will also enable it to develop new AI imaging solutions for lung diseases that can help transform patients’ lives by Increase treatment rates and medical outcomes. “.”
Dr. Michalis Papadakis, CEO and Co-Founder of Brainomix, said, “This investment will allow us to grow our team both at our Oxford location and around the world to support our plans for continuous healthcare innovation and best-in-class. “Technological development.”