By Elena Vrabie
Romanian-founded AI startup EmailTree, which automates the work of the customer service departments to increase […]
British MedTech startup Brainomix, which has a Greek co-founder, raised over €18M in a Series B, to scale its AI-based solution. In almost a decade since the launch, it has raised over €30M in over six rounds. Brainomix is working on creating imaging biomarkers. The team is developing a precision medicine solution that aims to help health practitioners offer personalized treatments.
The e-Stroke platform has been used for over 600K patients in 300 hospitals from 30 countries in Europe, the US, South America, and Asia. It has proved to encourage faster treatment which improves functional independence in stroke patients.
With this new round, they aim to tackle lung fibrosis and cancer solutions, after they initially focused on strokes. The team will target clinical trials to achieve broader adoption and develop their team at Oxford as well as globally.
The MedTech was developed in 2012 as a spin-out from the University of Oxford by Michalis Papadakis, co-founder and CEO, and Andrew Barker. Papadakis has a background in biochemistry, neuroscience, and medical innovation, while Barker has experience with marketing, management, and engineering.
Papadakis shared that they began by building the team, then the AI technology. The next developing phase boosted by persistence and innovation was validating the technology to ensure it is accurate and robust, followed by generating broad clinical adoption. Then, the startup received the ICT award of the Academic Enterprise Awards.
The CEO says they will remain focused on delivering solutions that address unmet needs. In a 2015 study, conducted by the American Thoracic Society, there were over 5M patients with idiopathic pulmonary fibrosis, with a mortality rate of 50% in 3-5 years after diagnosis; while another study shows that in 2018 there were estimated 18M cancer cases around the world.