Brainomix recently announced the completion of a £14 million (US$18 million) Series C investment round co-led by prominent health technology investors, including existing investors Parkwalk Advisors and the Boehringer Ingelheim Venture Fund (BIVF), along with new investor Hostplus via the IP Group Hostplus Innovation Fund. The round was also supported by LifeSci Capital.
Having started life as a spinout from the University of Oxford (Oxford, UK), Brainomix now operates in more than 20 countries globally, including the USA, and has pioneered the development of the Brainomix 360 Stroke artificial intelligence (AI) platform with the goal of automating validated imaging biomarkers to improve both diagnosis and treatment decisions.
In a press release, Brainomix describes itself as an established European market leader, with a UK National Institute for Health and Care Excellence (NICE)-endorsed technology that has been deployed to more than 300 hospitals and benefitted more than 1.5 million patients. The company claims to have demonstrated a “unique ability” to impact treatment rates, with study results showing that Brainomix 360 Stroke was associated with an additional 50% increase in the number of stroke patients receiving mechanical thrombectomy.
Brainomix’s recently announced investment will enable the company to accelerate its commercial expansion into the USA, where the company has secured a total of 10 US Food and Drug Administration (FDA) clearances. Fresh funding, the release continues, 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. Brainomix plans to expand its Oxford-based operations and global commercial team moving forward as well.
Brainomix says that, in addition to stroke care, it has applied its AI expertise to lung fibrosis with the development and FDA clearance of its Brainomix 360 e-Lung technology to accurately predict progression of the disease. The company also has an ongoing partnership with Boehringer Ingelheim to evaluate the real-world impact of e-Lung to improve identification and access to treatment for people with progressive lung fibrosis.
Michalis Papadakis, chief executive officer (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 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. 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.”
Oliver Reuss, investment manager of the BIVF and director of the Brainomix board, stated: “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.”
