AI-enabled platform Optellum has raised $14 million in a Series A round to diagnose and treat early-stage lung cancer.
The Series A round was led by Mercia, with additional backing from Intuitive Ventures, Black Opal Ventures, and existing investors, including St John’s College in the University of Oxford, IQ Capital, and the family office of Sir Martin & Lady Audrey Wood.
The Oxford-based MedTech company has attained FDA clearance, CE-MDR in the EU, and UKCA in the U.K. for its software platform.
Its Virtual Nodule Clinic is a platform that helps physicians identify and track at-risk patients, and optimally diagnose the signs of lung cancer early.
Thus, treatment can start sooner for patients with tumors, and invasive procedures such as biopsies on benign lesions are minimized.
Jason Pesterfield, CEO at Optellum, said: “We can now accelerate commercial deployment in both the U.K. and the U.S. to expand our installed base. Following years of research and clinical trials that have shown the impact of our software on the diagnosis of at-risk lung nodules.”
The investment will enable the company to scale its base, operations, and commercial launches in the U.K. and U.S.
The funding will also accelerate its research and development and enable the startup to expand its platform into personalized therapy decisions, integrating imaging with molecular data, robotics, and liquid biopsies.
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