Healthcare Industry News: HSMN NewsFeed
News Release - April 3, 2018
Brainomix Secures £7m ($9.8m) Investment to Tackle Strokes With AIBrainomix builds on partnership with Boehringer Ingelheim for AI-assisted fast treatment of stroke victims in latest venture round.
OXFORD, England, April 3, 2018 -- (Healthcare Sales & Marketing Network) -- Brainomix, a medical imaging company using artificial intelligence (AI) for the fast diagnosis and treatment of stroke victims, has attracted £7m ($9.8m) of investment to bring its software to the global healthcare market.
Boehringer Ingelheim Venture Fund (BIVF), the corporate venture fund of the global pharmaceutical company Boehringer Ingelheim, a driving force in the field of stroke, joined the round, which was led by university investment veterans Parkwalk Advisors. Existing investors Chimera Partners and Oxford University Innovation Fund also participated.
Brainomix's flagship software solution, e-ASPECTS, uses AI 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. The software works by automating the clinically-validated Alberta Stroke Program Early CT Score (ASPECTS) method. e-ASPECTS provides physicians with a clinical support tool that is designed to improve stroke treatment outcomes at much lower overall cost.
The injection of cash will allow Brainomix to further commercialise its intelligent medical imaging and workflow software solutions and expand its market penetration around the world.
Alastair Kilgour of Parkwalk Advisors 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."
Dr Frank Kalkbrenner, Managing Director of the Boehringer Ingelheim Venture Fund, said: "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."
Dr Michalis Papadakis, Brainomix CEO, 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 spin-out 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."
Brainomix, a medical diagnostics software company, was founded in 2010 as a spin-out from the University of Oxford and is dedicated to improving outcomes for patients with neurological and cerebrovascular disorders. Brainomix is currently focusing on acute stroke. By developing and equipping physicians with world-class, artificial intelligence-based medical imaging software, Brainomix aims to help them in making life-saving treatment decisions by supporting the selection of the right treatment for the right stroke patient.
Parkwalk invests in high growth, knowledge intensive companies seeking to develop and commercialise technology and innovation originating from UK universities, research intensive institutions and technology clusters.
Founded in 2009, Parkwalk is the largest EIS growth fund manager focused on university spin-outs, having raised over £180m to date and backed over 90 companies across its managed funds since inception.
The Parkwalk investment vehicles include the evergreen Parkwalk Opportunities Fund, the University of Cambridge Enterprise Funds, the University of Oxford Innovation Funds and the University of Bristol Enterprise Funds.
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