Brainomix, a UK-based brain imaging diagnostics software spinout from University of Oxford, has raised an unspecified amount from Parkwalk Advisors, a fund management firm owned by commercialisation company IP Group.
Parkwalk Advisors participated through its Opportunities EIS Fund, which receives tax relief under a UK government scheme for investors.
Founded in 2010, Brainomix has developed artificial intelligence-based diagnostics software that helps identify signs of acute ischemic stroke so that eligible patients can receive prompt and potentially life-saving treatment.
The platform performs an automated version of the Alberta Stroke Program Early CT Score (Aspects), an imaging assessment tool used for stroke diagnosis which can sometimes be vulnerable to human subjectivity and shortages of stroke-focused clinicians.
Brainomix was co-founded by the inventor of Aspects, Alastair Buchan, who leads the cerebral ischaemia laboratory at Oxford’s Radcliffe Department of Medicine. It graduated from an incubator run by Oxford’s tech transfer office, Oxford University Innovation (OUI), in 2012.
The company received $1.9m in an October 2016 round co-led by Parkwalk Advisors and investment firm Chimera Partners.
Isis Fund, which was established by Parkwalk and OUI had already taken part in a $2m round for Brainomix in 2014 that was co-led by Mark Jaffray of Chimera Partners.
