A potential brain aneurysm treatment device created by Oxford University spinout Oxford Endovascular has gained funding to complete manufacturing and move on to clinical trials.
Oxford Endovascular, an Oxford University spinout that is developing treatments for brain aneurysms, has raised £2m ($2.9m).
The funding comes from Oxford Sciences Innovation, a £320m university venture fund launched in 2015, and University of Oxford Isis Funds, backed by the institution’s tech transfer office Isis Innovation and operated by fund manager Parkwalk Advisors, as well as unnamed investors.
Oxford Endovascular has created a laser-cut metal alloy with shape memory. It can be inserted into a patient’s brain through a catheter where it expands to a tiny tube mesh that fits the shape of the blood vessel, diverting blood away from the aneurysm and allowing it to heal.
The funding will go enable the company to complete the manufacture of its device and to advance it into a clinical trial.
Mike Karim, chief executive of Oxford Endovascular, said: “Cerebral aneurysms in the brain are unfortunately very common, and a third of people who develop this problem will die. A third of survivors will suffer permanent neurological damage if left untreated.”
Brian Howlett, chairman of Oxford Endovascular, said: “Physicians will be able to place the device more accurately and in a wider range of patients ensuring treatment is safer and more effective. Our aim is that they will also be able to treat deeper brain blood vessels not accessible with existing devices.”
