Oxford-based medtech startup Optellum has raised £13m in a Sequence A funding spherical to spice up the event of its AI-powered, early-stage lung most cancers detection platform.
One of many greatest dangers of lung most cancers is diagnosing it too late to successfully deal with it. Optellum is aiming to resolve this, with physicians importing a affected person’s CT scan to its software program platform, the place the picture is then given a threat rating “inside seconds”.
By catching the early indicators of lung most cancers, Optellum goals to spice up a affected person’s probability of restoration.
Whereas based mostly in Oxford, Optellum is already medically accepted by the US’s Meals and Drug Administration (FDA). Optellum is wanting to make use of the brand new funding to scale its progress in each the US and UK.
“We will now speed up business deployment in each the UK and the US to increase our put in base,” stated Jason Pesterfield, CEO of Optellum.
“Following years of analysis and medical trials which have proven the affect of our software program on the analysis of at-risk lung nodules.”
Optellum’s newest funding spherical was led by Mercia and featured participation from Intuitive Ventures, Black Opal Ventures.
“Optellum is the newest in a collection of corporations to channel analysis from the UK’s world-leading universities into commercially viable merchandise which may make a distinction to the supply of medical care,” stated Stephen Johnson, funding director at Mercia.
“We at the moment are excited to grow to be a part of their success and apply our expertise with scaling up software program and deep tech corporations to assist speed up its affect on affected person lives the world over.”
The startup additionally acquired follow-on investments from earlier backers, together with St John’s Faculty within the College of Oxford and IQ Capital.