OPTELLUM RECEIVES $14 MILLION IN FUNDING FOR ACCELERATION IN PLATFORM DEVELOPMENT

Oxford-based medtech company, Optellum, is securing $14 million in funding from investors to expand operations, research, and medical platforms. The funding round includes various investors  - both new and existing - led by software technologies firm, Mercia, as well as Intuitive Ventures and Black Opal. 

Optellum provides an AI platform that aids in the detection and early treatment of lung cancer. According to them, a critical need has been highlighted as most detection is not noticed until it’s late stage.

 “With this strong support and commitment of highly specialized investors, we are positioned to accelerate commercial deployment in both the UK and the United States to expand our installed base,” says Chief Executive Officer at Optellum, Jason Pesterfield. 

“Following years of research and clinical trials that have shown the impact of our software on the diagnosis of at-risk lung nodules, we're focused on expanding patient access to this crucial technology and identifying deadly lung cancer faster in more at-risk people.”

“Optellum is the latest in a series of companies to channel research from the UK’s world-leading universities into commercially viable products that can make a difference to the provision of medical care. Having observed Optellum achieve great milestones over the years, we are now excited to become part of their success and apply our experience with scaling up software and deep-tech companies to help accelerate Optellum’s impact on patient lives across the world.”, says Investment Director at Mercia, Stephen Johnson.

The AI lung cancer detecting platform was developed by universities and worldwide healthcare systems. Key collaborations with GE Healthcare and the Lung Cancer Initiative at Johnson & Johnson will speed up the deployment process and the platform’s advancement.