Omniscient Neurotechnology, a Sydney-based brain-mapping technology company, has announced the completion of a AUD$40 million Series B financing round. The funding will allow Omniscient to accelerate its research and product portfolio, and expand its science, engineering, and sales teams globally, a press release states. The company will also expand market access to its research platform, Infinitome, and its neurosurgical planning platform, Quicktome.
“If you look at a brain scan today, many disorders such as depression are invisible—there is nothing physically there to see,” said Omniscient’s co-founder and chief medical officer Michael Sughrue. “Observing the brain’s connections tells a very different story. Brain surgery is where we wanted to start, because neurosurgeons have an urgent need for brain mapping to guide surgical decisions. Our software processes MRI [magnetic resonance imaging] scans to provide a detailed map of an individual’s brain networks, specifically tailored to each patient.”
Omniscient claims to be a global leader in the groundbreaking field of “connectomics”—an interdisciplinary effort to study brain connectivity, which has helped identify and understand individual brain networks responsible for functions like language, emotion, and cognition, Omniscient states. Using innovations in medical imaging and machine learning, the company builds applications capable of modelling and analysing brain networks formed by electrical connections within the brain. This technology transforms complex brain data into clear insight for doctors, psychologists, neuroscientists and brain technology innovators to better treat neurological disorders and mental illnesses.
The closing of this recent financing round represents a transition from breakthrough neuroscience to real-world applications for the company, the release adds. The funding was led by family offices and high-net worth individuals, including Hancock Prospecting’s executive chairman Gina Rinehart, and prominent fund manager Will Vicars.
“We are delighted to have such strong support from our outstanding investors,” said Stephen Scheeler, CEO of Omniscient. “This investment will allow us to advance our research and expand our portfolio of medical device and research solutions, which will transform the lives of the millions who suffer from brain-related disorders, including Alzheimer’s disease, depression, chronic pain, and brain cancer.”