Brainomix, a company pioneering AI-based imaging tools in stroke and lung fibrosis, announced the completion of a £14 million ($18 million) Series C investment round. The funding round was 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. LifeSci Capital supported the funding round.
As a spinout from the University of Oxford, Brainomix operates in over 20 countries globally, including the US. And it has pioneered the development of an AI platform Brainomix 360 Stroke, which automates validated imaging biomarkers for improving diagnosis and treatment decisions. Brainomix is the established European market leader, with a NICE-endorsed technology deployed to more than 300 hospitals, benefiting more than 1.5M patients.
The company has shown an ability to impact treatment rates, with results showing that Brainomix 360 Stroke was associated with an additional 50% increase in patients receiving mechanical thrombectomy, a life-changing stroke treatment reducing disability.
This new funding round will enable Brainomix to accelerate its commercial expansion into the US, where the company has recently secured ten FDA clearances. The new funding will also support Brainomix’s advancement of 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 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 to evaluate the real-world impact of e-Lung and improve the identification and access to treatment for people with progressive lung fibrosis.
KEY QUOTES:
“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.”
– Dr. Michalis Papadakis, CEO and Co-Founder at Brainomix
“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.”
– John Pearson, Chief Investment Officer at Parkwalk
“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.”
– Dr. Oliver Reuss, Investment Manager of the Boehringer Ingelheim Venture Fund (BIVF) and Director of the Brainomix Board
