Optellum, a University of Oxford spinout that provides a breakthrough AI platform to diagnose and treat early-stage lung cancer, has raised $14 million in a Series A funding round.
The investment will enable Optellum to scale its base, operations, and commercial launches in the UK and USA; accelerate research and development; and expand its platform into personalised therapy decisions by integrating imaging data with molecular data, robotics, and liquid biopsies.
Optellum was co-founded by the University of Oxford’s Professor Sir Mike Brady with the mission of seeing every lung disease patient diagnosed and treated at the earliest possible stage, and cured. Founded in 2016, the company provides artificial intelligence decision-support software that assists physicians in early diagnosis and optimal treatment for their patients.
Optellum’s platform was developed and clinically validated in partnership with leading universities and healthcare systems around the world. In the UK, Optellum’s solution is being used to predict at-risk lung nodules in a multi-centre study with NHS Trusts as part of a major investment in AI for healthcare.
The company is now the leader in AI-enabled lung cancer diagnosis, and the first and only medtech company to attain FDA clearance in the US, CE-MDR in the EU, and UKCA in the UK for its software platform Virtual Nodule Clinic. This first-of-a-kind platform can help physicians identify and track at-risk patients, and optimally diagnose the signs of lung cancer early, so treatment can be started sooner for patients with tumours, and invasive procedures such as biopsies on benign lesions can be minimized.
Case Study: How Optellum’s AI could revolutionise lung cancer diagnosis and treatment