Dear , 

Worldwide, the lack of timely, available expertise for brain CT scan interpretation delays stroke patients from accessing life-saving treatments. Brainomix’s ground-breaking technology, e-ASPECTS is a clinical decision support tool that automatically implements the Alberta Stroke Program Early CT Score (ASPECTS) clinical scoring methodology, to assist clinicians in timely identification of acute
ischemic stroke patients eligible for life-saving treatment and thereby dramatically improve stroke treatment.

The Technology
Brainomix Co-founder Prof. Alastair Buchan is the inventor of the ASPECTS system for stroke assessment, which has been clinically validated to be a predictor of patient outcome following treatment. However, its accuracy is often impaired by human subjectivity and its utility is severely limited by a lack of expert clinicians.

Brainomix’s e-ASPECTS medical imaging technology is a clinical decision making support software, which automatically implements the ASPECTS methodology, enabling medical professionals to reliably and accurately interpret a stroke patient’s brain CT scan, irrespective of experience and expertise, aimed at speeding up the treatment decision-making process.

Following diagnosis, ischemic stroke patients are assessed to receive thrombolysis, endovascular treatment or for severe cases, decompressive craniotomy. These treatments are time-sensitive and decisions must be made quickly, within the first few hours of stroke onset, to result in the best possible outcome for the patient.

The main users of e-ASPECTS will be consultant stroke physicians, neurologists, radiologists, junior doctors, fellows, students, stroke nurses, clinical trials units and research organisations.

Application of the e-ASPECTS software is intended to:

• Optimise patient selection and improve patient outcome.
• Reduce costs by limiting length of stay in hospital.
• Enhance the confidence of stroke physicians in decision-making irrespective of their training and expertise enabling them to reliably identify patients likely to benefit from treatment.
• Increase the uptake of stroke treatments.
• Be an invaluable tool for stroke clinical trials to select and stratify patients and to demonstrate the effectiveness of future stroke therapies based on imaging.

Since receiving the CE mark in March 2015, the e-ASPECTS software has been implemented in hospitals across Europe, including UK, Germany and Finland. The company is continuing to grow, with more countries and hospitals planning to access the technology in the coming months.

The Market Opportunity
Stroke is a huge and growing problem worldwide. It is a leading cause of death and disability and places an immense burden on healthcare systems. In England alone, the economic cost of stroke is estimated at £8 billion per year. This is the result of stroke being the most common cause of disability, with 50% of patients left dependent on other people. In addition, stroke patients occupy around 20% of all acute hospital beds and 25% of long-term beds.
Strokes are the third highest cause of death, the primary cause of disability and there are over 11,300,000 new ischaemic strokes each year worldwide. The widening gap of demand and supply provides a huge market opportunity for innovative solutions that can be clinically accepted as best practice, giving a speedy and conclusive analysis of CT images regardless of other resources available.

Recent Progress
The company’s previous funding round was in 2014. Since then
• All key technical, regulatory and performance goals have been achieved as planned
• New Innovate UK grant funding won to cover R&D and regulatory costs for two new products
• Sales channels established in key European markets
• Strong senior hires achieved
• Initial sales wins into the NHS with a growing pipeline
• New products are being developed

The Team
Andrew Barker, Chairman, is an experienced Chairman, NED and investor in early stage companies. Having been involved in the early stages of computing over in Silicon Valley, he later worked to build Intel’s European venture arm. He is Chairman of Intelligent Ultrasound, a medical imaging spin-out, and advisor to a number of growth stage ventures.

Dr Michalis Papadakis, CEO, Founder, has been the CEO since the creation of the company. noted personality within the international stroke research community. He has been an invited speaker at international stroke conferences and has 20 publications in the field of cerebral ischaemia and translational stroke research studies. Previously the Scientific Director at the Laboratory of Cerebral Ischemia at the University of Oxford, he has managed several high impact projects that have attracted significant media attention.

Prof. Alastair Buchan, CSO, Founder, is the inventor of ASPECTS and a world leading clinician in stroke treatment, with over 200 publications to his name. He is currently Dean of Medicine, Head of Medical Sciences Division and Professor of Stroke Medicine at the University of Oxford.

Prof. Iris Grunwald, Medical Director, Founder, has been instrumental in the development of the e-ASPECTS algorithm. She is the Director of Neuroscience and Medical affairs at Anglia Ruskin University.
She is using her international reputation for the implementation of acute stroke interventions to create an international stroke service at Southend University Hospital.

Simon Canham, COO, has over 30 years’ business experience in Start-Ups, SMEs and Corporates, over 20 of those in Executive roles including CFO, COO, Commercial Director and Finance Director. He also has extensive Board level experience. Simon has raised over £50 million in Corporate Finance for businesses and has executed successful front to back M&A transactions (3 buy-side, 1 sell-side). Simon has a focus on enabling businesses to grow to the next level through operational and financial improvement.

Eric Greveson, CTO, received a 1st class M.Eng from Cambridge University specializing in computer vision, and has been involved in several 3D imaging projects in the medical and security sectors, previously working with 2d3 and Yotta.

Riaz Rahman, VP Healthcare Global, is responsible for the company’s revenue, marketing, direct sales operations and the management of distributor, agent and channel strategies globally. He leads the development of national and international sales strategies and manages relationships with clinicians and key opinion leaders in each country after market entry. He has a BSc Honours degree in Human Genetics from King’s College London and a Masters degree in Human Molecular Genetics from Imperial College London. He has held a number of senior management and commercial positions in Pharmaceuticals, Management Information, Health Consultancy and Technology with over 17 years’ experience of working with private and public healthcare. He has a strong passion for driving clinical excellence and using technology and innovation to improve the quality of healthcare for patients.

The Investment Case
The company has made considerable progress over the last couple of years and is positioned to make further commercial headway in the near future. Once adopted, e-ASPECTS could be highly valuable to many potential acquirers. Health IT and medical imaging are highly active M&A sectors. In the medical imaging space, M&A activity has largely been driven by the large incumbent healthcare companies seeking innovation and new products.

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