Brainomix, a UK-based health technology company, has secured £14 million (US$18 million) in Series C funding. The investment round was co-led by prominent healthcare technology investors, including Parkwalk Advisors and the Boehringer Ingelheim Venture Fund (BIVF), along with new investor Hostplus via the IP Group Hostplus Innovation Fund. LifeSci Capital also supported the round.
Brainomix, a spinout from the University of Oxford, has developed the Brainomix 360 Stroke artificial intelligence (AI) platform. The platform automates imaging biomarkers to improve stroke diagnosis and treatment decisions, and the company operates in over 20 countries, including the United States.
According to a press release, Brainomix is a European market leader with its technology endorsed by the UK’s National Institute for Health and Care Excellence (NICE). The technology has been implemented in more than 300 hospitals and has benefitted over 1.5 million patients. The company claims its technology has increased treatment rates, with studies showing a 50% increase in mechanical thrombectomies.
The new funding will fuel the company’s expansion into the US market, where it has already obtained 10 US Food and Drug Administration (FDA) clearances. Brainomix also plans to advance its AI-powered technology in new areas and expand its operations in Oxford, as well as its global commercial team.
Beyond stroke care, Brainomix has applied its AI expertise to lung fibrosis. The company’s Brainomix 360 e-Lung technology accurately predicts disease progression and has received FDA clearance. Brainomix is also collaborating with Boehringer Ingelheim to assess the real-world impact of e-Lung.
Michalis Papadakis, Brainomix’s CEO and co-founder, stated, “We would like to thank all the investors that participated… 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 USA, helping improve patient care and access to life-changing therapies.”
John Pearson, chief investment officer at Parkwalk, added, “The potential for AI-powered platforms in healthcare to revolutionise diagnosis and treatment decisions is clear… Parkwalk is excited to continue supporting a company that is creating comprehensive solutions to critical needs and implementing them at scale.”
Oliver Reuss, investment manager of the 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.”
