Brainomix, a medical imaging company using artificial intelligence (AI) for the fast diagnosis and treatment of stroke victims, has attracted £7m ($9.8m) of investment to bring its software to the global healthcare market. The company was spun out from Oxford University research.
Boehringer Ingelheim Venture Fund (BIVF), the corporate venture fund of the global pharmaceutical company Boehringer Ingelheim, a driving force in the field of stroke, joined the round, which was led by university investment veterans Parkwalk Advisors. Existing investors Chimera Partners and Oxford University Innovation Fund also participated.
Brainomix's flagship software solution, e-ASPECTS, uses AI to provide a fast and standardised assessment of stroke patient CT scans, supporting quick and consistent treatment decisions by medical professionals, irrespective of their experience and expertise. The software works by automating the clinically validated Alberta Stroke Program Early CT Score (ASPECTS) method. e-ASPECTS provides physicians with a clinical support tool that is designed to improve stroke treatment outcomes at much lower overall cost.
The injection of cash will allow Brainomix to further commercialise its intelligent medical imaging and workflow software solutions and expand its market penetration around the world.
Alastair Kilgour of Parkwalk Advisors said: 'We welcome Boehringer Ingelheim Venture Fund to the Brainomix investor group and look forward to continue to help management maintain its leadership in intelligent medical imaging for stroke around the world.'
Dr Frank Kalkbrenner, Managing Director of the Boehringer Ingelheim Venture Fund, said: 'Brainomix is a cutting-edge technology company with superior expertise in innovative stroke care. We are very pleased to join the accomplished management team and this prestigious group of investors. We are looking forward to working with them on breakthrough improvements in stroke care. Their e-ASPECTS solution significantly supports physicians in the demanding acute care setting and is a step forward for fast and consistent stroke diagnosis.'
Dr Michalis Papadakis, Brainomix CEO, said: 'We welcome Boehringer Ingelheim Venture Fund to our team of investors. Their tremendous expertise and heritage in stroke will complement the knowledge of our existing investors. Since we started as a spinout of the University of Oxford, we have become a global market leader, with our stroke decision support and workflow tools installed in many leading stroke centres in more than 16 countries. With this investment we will grow around the world and continuously expand Brainomix's intelligent imaging software for acute stroke care and clinical trials.'