PR Newswire
- University of Oxford spinout accelerates commercial expansion in the US of its innovative stroke AI imaging solution, with its demonstrated impact on vital treatments
- Funding will also support clinical uptake of its breakthrough solution in lung fibrosis
Brainomix, a company pioneering AI-powered imaging tools in stroke and lung fibrosis, today announced the completion of a £14M ($18M) Series C investment round. The round is co-led by prominent 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. Hostplus is a leading Australian industry superannuation (pension) fund with over AUD$120 billion in funds under management. The round was supported by LifeSci Capital.
A spinout from the University of Oxford, Brainomix now operates in more than 20 countries globally, including the US. It has pioneered the development of an AI platform, Brainomix 360 Stroke, that automates validated imaging biomarkers to improve both diagnosis and treatment decisions. Brainomix is the established European market leader, with a NICE-endorsed technology that has been deployed to more than 300 hospitals, having benefitted more than 1.5M patients.
The company has demonstrated a unique ability to impact treatment rates, with results showing that Brainomix 360 Stroke was associated with an additional 50% increase in the number of patients receiving mechanical thrombectomy, a life-changing stroke treatment reducing disability.
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. Having grown to a company of more than 75 staff, Brainomix plans to expand both its Oxford-based operations and global commercial team.
Brainomix has applied its AI expertise 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, the global leader in lung fibrosis treatments, to evaluate the real-world impact of e-Lung to improve the identification and access to treatment for people with progressive lung fibrosis.
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 recognize 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."
John Pearson, Chief Investment Officer at Parkwalk, said: "The potential for AI-powered platforms in healthcare to revolutionise diagnosis and treatment decisions is clear. Brainomix has successfully demonstrated its platform imaging software is able to deliver both significant societal impact and strong growth for investors. Parkwalk is excited to continue supporting a company that is creating comprehensive solutions to critical needs and implementing them at scale."
Dr Oliver Reuss, Investment Manager of the Boehringer Ingelheim Venture Fund (BIVF) and Director of the Brainomix Board, said: "Brainomix has demonstrated an unparalleled track record of successfully delivering AI solutions into stroke clinical practice, and they are now doing it again in lung fibrosis. As a strategic investor with a shared vision to enhance care for lung disease, we believe Brainomix has the potential to improve the identification and access to treatment for people with lung fibrosis."
Please watch our video here Brainomix Series C Funding - Dr Michalis Papadakis on Vimeo
Notes to Editors
About Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spinout from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 20 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development Officer
jwyrtzen@brainomix.com
M +44 (0)7927 164210
T +44 (0)1865 582730
Media Enquiries
Charles Consultants
Christopher Gardner
chris@cgcomms.onmicrosoft.com
M +44 (0)7956 031077
About Parkwalk
Parkwalk is the largest growth EIS fund manager, backing world-changing technologies emerging from the UK's leading universities and research institutions. With £500m of assets under management, it has invested in over 180 companies across its award-winning Parkwalk Opportunities and Knowledge Intensive EIS Funds, as well as the enterprise and innovation funds Parkwalk manages for the Universities of Cambridge, Oxford, Bristol and Imperial College.
For further information visit: parkwalkadvisors.com
Media Enquiries
Portland
Pauline Guénot
Pauline.guenot@portland-communications.com
+44 (0)7841 196889
About IP Group Hostplus Innovation Fund
IP Group is the leading investor in university originated deep-tech companies in Australia and the UK. The Group pioneered a unique approach to developing intellectual property into valuable deep-tech companies.
In Australia and New Zealand, IP Group manages the $435m IP Group Hostplus Innovation Fund. IP Group works in close partnership with major universities to identify ground-breaking technologies which have the most promising commercial potential. IP Group, which is listed on the Main Market of the London Stock Exchange under the symbol IPO, has a strong track record of success and its portfolio comprises holdings in early stage to mature businesses across life sciences and technology. https://www.ipgroupanz.com/
Media contact:
Craig Regan, Primary Communication on +61 (0) 408 448 527 or craig@primarycommsgroup.com.au
About Boehringer Ingelheim Venture Fund GmbH
The Boehringer Ingelheim Venture Fund (BIVF), established in 2010, is dedicated to investing in groundbreaking biotechnology companies that are at the forefront of therapeutic and digital innovations, aiming to advance biomedical research. With a commitment to revolutionizing the standard of care, the BIVF fosters long-term partnerships with scientists and entrepreneurs. The BIVF's focus is on nurturing disease-modifying therapeutic concepts and facilitating their clinical application. The BIVF prioritizes the translation of first-in-class concepts that address significant medical needs in fields such as oncology, immunology, regenerative medicine, neurodegeneration, infectious diseases, and digital health technologies. These innovative concepts often encompass novel platform technologies designed to tackle targets and diseases that were previously considered untreatable.
With a fund volume of EUR 350 million, the BIVF operates as an evergreen fund, continually reinvesting to fuel its mission. The partners of the BIVF gain from the fund's deep expertise in drug discovery & development, translational science, and management, along with access to a network of experts within the Boehringer Ingelheim organization. Currently, the BIVF supports a diverse portfolio of over 40 companies, leveraging its extensive experience to drive progress in healthcare.
For additional information, please visit boehringer-ingelheim-venture.com.
Video: https://www.youtube.com/watch?v=TiujKeHvwzU
Photo: https://mma.prnewswire.com/media/2645475/MichalisPapadakis_CEO_Brainomix.jpg
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