Brainomix spun out from Oxford University’s preclinical stroke lab, part of the Nuffield Department of Clinical Neurosciences, in 2010. Image credit: ShutterOK via Shutterstock

UK-based Brainomix has completed a £14m ($18m) Series C funding round to advance commercial expansion in the US.

A spinout of Oxford University, the company’s suite of artificial intelligence (AI)-based imaging tools for stroke and fibrosis management are deployed via the Brainomix Stroke 360 platform.

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The AI tools on the platform include the recently cleared 360 e-Lung system for identifying idiopathic pulmonary fibrosis (IPF), a condition that increases the risk of stroke, and the e-ASPECTS tool for assessing non-contrast CT scans to automatically generate an Alberta Stroke Program Early CT Score (ASPECTS) to quantify early ischaemic change on CT brain scans of acute stroke patients.

Each of the platform’s tools use AI algorithms to analyse brain scans in real-time, helping healthcare providers identify critical conditions such as large vessel occlusions (LVO) and intracranial haemorrhages (ICH) and other associated stroke risk factors.

Along with supporting the platform’s advancement following the US launch in 2023, Brainomix also says it intends to use the latest funding to develop AI tools for new areas, a move that would potentially give the company an edge over San Francisco-based Viz.ai and California-based RapidAI, its main stroke detection tool competitors in the US market.

Co-led by Parkwalk Advisors and the Boehringer Ingelheim Venture Fund (BIVF), the Series C close brings Brainomix’s funding to around £50m ($65m) since spinning out from Oxford University in 2010.

Brainomix co-founder and CEO Michalis Papadakis commented: “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.”

Brainomix Stroke 360 and its associated tools have undergone rigorous assessment in recent years. A 2023 evaluation of e-Stroke across 24 hospitals in England demonstrated that the platform boosted treatment rates from the national average of 3.6% to 5.7% at e-Stroke hospitals.

In 2020, Brainomix received funding from an AI award platform organised by the UK Government.

Commenting on the company’s latest funding tranche, Lord Vallance, the UK Government’s minister for science, said: “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.”