AI heart diagnostic on way to UK
13 Jun 2018 by Evoluted New Media
Ultromics, the UK start-up behind artificial intelligence technology for the diagnosis of coronary heart disease, has raised £10 million in Series-A investment.
The funding was led by Oxford Sciences Innovation (OSI), with Neptune, RT Ventures, GT Healthcare, Tanarra, Fushia and personal investors Andre Crawford-Brunt and Dieter Spälti also participating. Ultromics, which was founded in May 2017 as a spin out of Oxford University, has developed echocardiography analysis technology that aims to reduce diagnostic errors by 75%, which would significantly increase accuracy for diagnosing coronary artery disease in one of the most widely used diagnostic tests.
The AI algorithm was created by CEO and founder Ross Upton and is currently being evaluated in a major multi-centre trial at six NHS hospitals overseen by co-founder Paul Leeson, Professor of Cardiovascular Medicine at the University of Oxford.
“Our goal is to increase accuracy, consistency and efficiency in cardiology, providing patients with a reliable test and significant saving for healthcare systems worldwide. We’re delighted that we’ve secured this funding so we can commercialize this exciting technology and bring its benefits to patients everywhere,” Said Upton.
The trial will be expanding to 20 NHS hospitals by the end of the year giving clinicians an early chance to trial the new technology.The £10 million investment is to be used to bring the technology to market in the USA and make it available in the UK early 2019.
