Oxtex and Brainomix have secured cash from the $2m fund set up earlier this year.
Oxford University’s Isis Fund, worth a total of £1.25m ($2m), has made its first investments from the fund. Both medical device spin-out Oxtex and medical software developer Brainomix both received investment.
The Isis Fund was set up in February 2014 by Isis Innovation and Parkwalk Advisors.
The fund participated in Brainomix’s £1.2m ($1.95m) funding round, led by Mark Jaffray of Chimera Partners and also including Parkwalk Advisors. Brainomix, which took part in the Isis Software Incubator, is working on software which can interpret CT scans so that stroke patients are more efficiently recognised as such and received the help they need. The investment will go towards launching the technology for clinical use.
Oxtex, spun out of Oxford University in 2011, has secured £150,000 ($243,000) from the Isis Fund. The company has developed a tissue expander, which has applications in human reconstructive, dental and veterinary surgery. Ir will use that cash injection to expand its senior management, scale up manufacturing and bring its first veterinary product to market.
Linda Naylor said, executive director at Isis Innovation, said: “This is a great start to what we are certain will be a speedy and successful investment round for the fund. We have a large group of investment-ready technologies which will benefit enormously from proof of concept and seed funding.”
The university is planning to launch a second fund once the first one is fully invested.
