Oxford-based Brainomix secures €16.7M to expand its AI in stroke and lung disease treatment

Oxford-based Brainomix, a company developing AI-powered imaging tools for stroke and lung fibrosis, has completed a £14M (nearly €16.72M) Series C investment round. 

The round was co-led by healthtech 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. LifeSci Capital supported the round.

Advancing AI in stroke and lung disease treatment

Brainomix, founded in 2010 as a spinout from the University of Oxford, has developed Brainomix 360 Stroke, an AI-powered platform that analyses medical images to support stroke diagnosis and treatment. It operates in over 20 countries, including the US

The company’s technology has received approval from the National Institute for Health and Care Excellence (NICE) and is used in more than 300 hospitals, assisting over 1.5 million patients.

Studies show that the use of Brainomix 360 Stroke is linked to a 50 per cent rise in patients receiving mechanical thrombectomy, a procedure that can reduce disability after a stroke.

Expanding its AI applications, Brainomix has also developed Brainomix 360 e-Lung, a tool designed to predict the progression of lung fibrosis. This technology has received approval from the US Food and Drug Administration (FDA). 

The company is collaborating with Boehringer Ingelheim, a key player in lung fibrosis treatments, to assess how e-Lung can help improve diagnosis and access to treatment for individuals with progressive lung fibrosis.

Lord Patrick Vallance, UK Minister of State for Science, Research and Innovation, says, “The AI tools developed by Brainomix are already helping patients get fast and accurate diagnosis and treatment for a range of serious conditions. Securing this funding will help them to grow, create more jobs, and support more patients.”

“This is not only an example of an excellent university spinout, but also evidence of how the deep pool of tech and life sciences expertise found in Oxford, and across the country, is drawing investment into the UK, driving growth, and supporting our Plan for Change.”

Capital utilisation

Brainomix will use the funds to expand its operations in the US, where it has recently received 10 FDA clearances. The funding will also support the development of its AI-powered technology for faster diagnosis and improved access to treatments. 

With a team of over 75 staff, Brainomix plans to grow its Oxford-based operations and global commercial team.

Dr Michalis Papadakis, CEO and co-founder at Brainomix, says, “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 US, helping improve patient care and access to life-changing therapies.”