础苍听Oxford University spin-out has raised 拢7.3 million to develop a device which could prevent brain听haemorrhage.听
Oxford Endovascular听is developing a treatment for brain aneurysms which it says will overcome challenges with existing medical devices.听
Brain aneurysms are surprisingly common, affecting 1 in 50 people.听If a patent has a rupture, they have a high chance of dying or suffering permanent brain damage.听听
The company has developed a micro stent called听OxiFlow锔� (below), utilising 鈥極rigami鈥� engineering, which can be inserted into the brain blood vessels via minimally invasive groin access. 听
This lies across the base of the aneurysm and causes it to shrink and heal.听听
Developed by world leading professors of neuroradiology and engineering, this next-generation 鈥榝low-diverter鈥� can be placed听more accurately and safely than existing treatments, reducing the risk of complications and having to use multiple devices.听
鈥淭he current device market for brain aneurysms is valued at well over $1 billion and is growing rapidly year-on-year,鈥� said CEO Mike Karim.听听
鈥淥ne of the biggest challenges when it comes to treating neurovascular disease is having devices with high efficacy whilst minimising adverse events.听
鈥淪tudies show that often multiple attempts are made to place treatment devices, as they often have challenges of landing accurately, opening and maintaining position. This can lead to adverse events and multiple devices being used.听听
鈥淧rocedures typically cost听over $50,000 to treat a brain aneurysm and a next-generation flow diverter overcoming unmet needs, offers the chance for more effective, safer and cost-effective treatments as well as allowing many more patients to benefit.听听
鈥淲e plan to use this funding to bring听Oxford听贰苍诲辞惫补蝉肠耻濒补谤鈥檚听ground-breaking technology to the next stage and gain clinical data from human studies.鈥�听
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The听funding includes a 拢3m investment from new investors Vulpes Investment Management, who joined to lead the round and funds from the听Additio听Investment Group.听听
Existing investors Oxford Sciences Innovation PLC,听Parkwalk听Advisors,听Perivoli听Innovations, Oxford Investment Consultants, the University of Oxford and private individuals also followed on.听
Martin Diggle, Portfolio Manager, Life Sciences听at Vulpes Investment Management, commented:听鈥淭he life sciences team at Vulpes are听excited to be participating in the next stage of the development of Oxford听Endovascular’s听innovative technology.听听
鈥淲e believe this platform has the potential to become a world leader in its field.鈥�听
Alun Williams, Investment Director at听Parkwalk听Advisors, the leading investor in UK university spinouts,听said: 鈥�Parkwalk听are delighted to have invested in Oxford Endovascular.听听
鈥淭his raise is testament to the extraordinary work and innovation of a great team of development engineers and inventors and will help the company through its next stages of research.鈥�听