Oxford-based Ultromics secures £23.7M to help doctors diagnose cardiovascular disease through AI
Cardiovascular disease is the leading cause of mortality globally, with an estimated 17 million deaths each year. Thanks to development in medical technology and clinical research, imaging tests and diagnostic measurements are constantly evolving, particularly in cardiology.
Meet Ultromics, an Oxford-based startup that aims to help clinicians to make fast, accurate decisions when using ultrasound images to diagnose cardiovascular disease.
Recently, the UK company has secured $33 million (approx £23.7 million) in a Series B funding round led by Blue Venture Fund with participation from Optum Ventures, GV, and existing investor Oxford Sciences Innovation.
“Cardiovascular disease is the leading cause of morbidity and mortality in the United States, and Ultromics offers groundbreaking AI solutions for more accurate diagnosis,” said Dr. Emir Sandhu, Managing Director at the Blue Venture Fund. “We are excited to partner with Dr. Ross Upton and the Ultromics’ team, as they promote improved patient outcomes.”
The company will use the funding to help accelerate the use of AI-enabled echocardiograms to help improve patient care and bring improved diagnostic quality and resource savings to hospitals.
Founded in 2017 by Ross Upton and Paul Leeson, Ultromics is a spin-off of the University of Oxford and built-in partnership with the UK’s NHS. The company has developed the first fully automated solution for echocardiography (EchoGo Core and EchoGo Pro) and analysis of global longitudinal strain (GLS).
As per the company’s claims, it delivers analysis in minutes, with zero variability, and can also predict a patient’s risk of developing coronary artery disease. In fact, EchoGo Core and EchoGo Pro are already being used and validated by several organisations including Mayo Clinic and the Oregon Health and Science University.
“Ultromics’ software significantly improves the ability of clinicians to leverage low-cost ultrasound imaging to address cardiovascular disease, one of the greatest healthcare burdens of our generation,” said Dr. Vijay Barathan, Optum Ventures. “We are thrilled to be supporting the Ultromics team in their mission to improve patient lives through AI-enabled cardiovascular imaging solutions.”
“Echocardiography is the most accessible, lowest cost, least-invasive, safest, and most convenient means of imaging the heart,” said Dr. Upton. “With Ultromics’ AI, we have proven that it can now be as accurate and effective as more expensive modalities that are not available to all patients. This trio of investors presents Ultromics with a unique opportunity to substantially scale our technology globally so that more people can get the care they need and deserve earlier.