Treating strokes with AI: £7m investment secured by Oxford spinout Brainomix
The use of artificial intelligence (AI) in medical diagnosis and treatment is a swiftly burgeoning area of technology. Brainomix, a medical imaging company, is at the forefront of this. Specifically, they use AI for rapid diagnosis and treatment for victims of strokes.
Brainomix was launched in 2010 as a spin-out of Oxford University, with the aim of becoming global leaders in imaging software that aids medical decisions in the field of neurology. They are made up of an expert team of scientists, researchers, clinicians and stroke neurologists, making them ideally placed to tackle the wealth of problems that arise when diagnosing and treating a stroke.
Today it was announced that the company has secured a £7m investment to bring their technology to a world scale. The round for this exciting venture was led by university investment veterans Parkwalk Advisors. Other investors include Chimera Partners and Oxford University Innovation Fund, as well as newcomers Boehringer Ingelheim Venture Fund (BIVF – the corporate venture fund of pharmaceutical company Boehringer Ingelheim, who are prominent in the field of stroke neurology). This inflow of money will allow Brainomix to globally commercialise its artificially intelligent imaging and software, gaining global publicity.
Brainomix’s primary software solution is e-ASPECTS, which harnesses AI technology to analyse patient CT scans. This yields a standardised and extremely rapid evaluation of the image, leading clinical professionals with a range of experience to consistent and supported medical decisions. The technology works by automating the Alberta Stroke Programme Early CT Score (ASPECTS) method, which has been clinically validated. This software will allow healthcare professionals with differing expertise to analyse CT scans, allowing faster decisions to be made for the patient. Use of e-ASPECTS has been shown to ameliorate stroke treatment outcomes at an overall smaller cost.
Use of e-ASPECTS has been shown to ameliorate stroke treatment outcomes at an overall smaller cost.
The CEO of Brainomix Dr. Michalis Papadakis 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.’
Parkwalk Advisor’s Alastair Kilgour 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.’
Similarly, the Managing Director of the BIVF Dr. Frank Kalkbrenner stated: ’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.’