Series A8 April 2019

Mirada Medical secures £6m Series A investment from Apposite Capital

Apposite Capital has led a £6m Series A round in Mirada Medical to accelerate the development of artificial intelligence for cancer care.

£6.0MSeries A

Mirada Medical develops medical imaging software and artificial intelligence applications to assist clinicians with cancer treatment planning. The firm builds tools that simplify complex image processing tasks for hospitals and health centres globally.

Mirada Medical has secured £6m in a Series A funding round led by Apposite Capital, with participation from existing backer AlbionVC and other private investors. The capital will be directed towards advancing the company development of artificial intelligence software designed to improve the speed and precision of cancer treatment planning.

The Oxford-based firm recently achieved regulatory clearance for its deep learning contouring tool, which automates time-consuming tasks in radiation therapy. The new financial backing aims to accelerate product milestones and expand market reach across international healthcare sectors.

Apposite Capital joins the investor base alongside AlbionVC as the company scales its operations. The investment underscores growing confidence in clinical applications of artificial intelligence to alleviate administrative burdens for medical staff.

From the founder

"The use of AI in healthcare is growing quickly. We are excited to be able to accelerate our development of AI-based cancer treatment planning. Apposite’s focus on healthcare and their solid pedigree in the Radiation Therapy sector provides Mirada with invaluable resource over and above the significant financial investment they have made. Mirada’s products will make a transformative impact on the day-to-day provision of cancer care, through the deployment of advanced AI-powered technology."

Hugh Bettesworth

CEO at Mirada Medical

Investor perspective

"Apposite are delighted to back the team at Mirada. Not only does Mirada have a long track record of success in medical imaging software with a global installed base of 2,000 hospitals and partnerships with the leading global medical equipment companies, but on the back of world-leading science and technology it continues to develop and commercialise its own cutting edge new products. The recently approved AI based auto-contouring product is a great example and fulfils a real clinical imperative as clinicians globally strive to deliver ever more precise radiotherapy."

Sam Gray

Partner, Apposite Capital