£7m for rapid Ai stroke response

Medtech startup Brainomix has secured £7m in investment to grow its Ai-assisted rapid stroke treatment technology, to help patients reach the right expertise in the critical early minutes after stroke hits.

brainomixscansOxford University medtech spin-out Brainomix has secured £7m in funding to develop its Ai technology to help treatment of stroke within the critical four-hour timescale needed to boost chances of recovery.

Brainomix was founded in 2010 by Dr Michalis Papadakis, a neuroscientist with frontline understanding of the impact of treatment delays on stroke victims. One in four patients miss out on stroke treatment because of a lack of readily available expertise to interpret CT scans.

Brainomix has developed Ai-based medical imaging software that helps physicians accurately evaluate damage and choose the right treatment for the patient in the vital early hours after stroke hits.

Its software solution, e-ASPECTS, uses artificial intelligence to provide a fast and standardised assessment of stroke patient CT scans, supporting quick and consistent treatment decisions by medical professionals, irrespective of their experience and expertise.

Papadakis (pictured) founded Brainomix as a spin-out from Oxford University dedicated to improving patient outcomes with neurological and cerebrovascular disorders.

Brainomix had already secured £2.7m in venture backing through series A and B rounds led by Parkwalk Advisors with Chimera Partners. The new £7m round is again led by Parkwalk, along with new backing from Boehringer Ingelheim Venture Fund – the corporate venture fund of stroke pioneer pharma company Boehringer Ingelheim – and the Oxford University Innovation Fund.

The cash injection will allow Brainomix to commercialise its intelligent medical imaging and workflow software solutions and expand market penetration around the world – with its tools already installed in stroke centres in 16 countries.

michalispapadakisPapadakis 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.

“With this investment we will grow around the world and continuously expand Brainomix’s intelligent imaging software for acute stroke care and clinical trials.”

BIVF managing director Frank Kalkbrenner described Brainomix as “a cutting-edge technology company with superior expertise in innovative stroke care”.

“We are looking forward to working with them on breakthrough improvements in stroke care,” he said. “Their e-ASPECTS solution significantly supports physicians in the demanding acute care setting and is a step forward for fast and consistent stroke diagnosis.”