£3.25m backing for cancer-fighting AI software
An Oxford company which aims to improve lung cancer diagnosis and treatment has been backed with £3.25 million funding.
When applied to CT scans, Optellum’s revolutionary platform enables doctors to diagnose, treat and cure patients at the earliest stages of the disease.
As well as identifying at-risk patients, the software may also minimize over-diagnosis and over-treatment of harmless lesions, thereby reducing the instances of unnecessary costly and invasive procedures.
A £1m investment from Luminous Ventures is part of a seed follow-on round of £3.25m which also includes IQ Capital, St. John’s College, Oxford and the family office of Sir Martin & Lady Audrey Wood.
Lomax Ward, general partner and co-founder of Luminous Ventures, said: “We back technology that matters, so we are absolutely delighted to be investing in a breakthrough technology that is going to have such a significant impact improving the lives of lung cancer sufferers.
“We are thrilled to include Optellum amongst our growing portfolio of ground-breaking companies.”