The Oxford University spin-out set up by its technology transfer office raises the funds at the same time as winning a development award from the UK's National Health Service.

Intelligent Ultrasound has spun out from Oxford University, after it was set up by the University’s technology transfer company Isis Innovation.

Intelligent Ultrasound has raised £610,000 ($953,000) to develop software to reduce the risk of incorrect or missed diagnoses.

Tom Hockaday, managing director of Isis Innovation, said: "This is a University technology which will have a positive impact for clinicians, patients, and the taxpayer, as well as investors."

Intelligent Ultrasound’s software products are based on research from Professor Alison Noble…