Brainomix raises £16m in Series B funding from Boehringer Ingelheim Venture Fund and Parkwalk Advisors to expand into new therapeutic indications.
The financing round was co-led by Boehringer Ingelheim Venture Fund and Parkwalk Advisors, with participation from Tencent and Oxford University Innovation Fund.
Brainomix is a medical imaging company that develops artificial intelligence tools to improve diagnosis and treatment decisions for stroke and lung fibrosis. The firm spun out from the University of Oxford and operates in more than twenty countries.
Brainomix has secured £16m in a Series B financing round co-led by existing backers Boehringer Ingelheim Venture Fund and Parkwalk Advisors. The raise also drew participation from new investor Tencent Holdings and the Oxford University Innovation Fund.
The capital will support the medtech company as it expands into new markets and therapeutic indications such as lung fibrosis and cancer. Funds will additionally be directed towards scaling the team globally and forging pharmaceutical partnerships to enhance clinical trial success.
Founded as a spin-out from the University of Oxford, the firm is known for its e-Stroke imaging platform, which is deployed in hospitals worldwide. The latest injection of capital follows growing international demand and aims to build upon the proven utility of its core technology.
From the founder
"We welcome Tencent as a highly experienced new investor and thank Parkwalk and BIVF, as well as OUIF, for their continuing support. This investment round attracted substantial interest, as it was clear we are at a very exciting juncture in our development and poised for substantial growth. This investment will allow us to grow our team, both at our Oxford site as well as globally, to support our plans for continual healthcare innovation and best-in-class technological development."
Michalis Papadakis
CEO at Brainomix
Investor perspective
"Over the past decade Brainomix has created the market for stroke AI imaging. As a spin-out from the University of Oxford it is an example of the UK's world-leading strengths in life sciences and AI-enabled medtech, combining expertise in clinical care and software development with more than 150 years' experience in the field across its leadership team."
Alastair Kilgour
Chief Investment Officer, Parkwalk Advisors
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Fund research and development
Investors
Oliver Reuss
Boehringer Ingelheim Venture Fund
Alastair Kilgour
Parkwalk Advisors
Tencent
Oxford University Innovation Fund
