Higgs team advises on $14m medtech funding

08 December 2022

The Tech & High Growth team at Higgs LLP recently advised Mercia on Optellum’s $14m (£11.4m) Series A funding round.

Optellum is an Oxford-based medtech company that provides an exciting AI platform to diagnose and treat early-stage lung cancer.

Lung cancer is the leading cause of cancer deaths with 1.8 million deaths worldwide each year. This ground-breaking software from Optellum can help track at-risk patients and diagnose the signs of lung cancer.

The investment will enable the company to scale its base, operations and commercial launches in the UK and USA, accelerate its research and development and expand its platform into personalised therapy decisions, integrating imaging with molecular data, robotics and liquid biopsies.

Additional investment came from Intuitive Ventures (Sunnyvale, California) and Black Opal Ventures (New York) 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, also participated in this round.

Partner, Jamie Partington, said: “We were delighted to support Mercia as the lead investor in this significant funding round, and are really excited see Optellum’s progress, and hopefully transformative effect on lung cancer diagnosis in the coming months and years.”

Higgs’s tech and high growth team works closely with investment funds, founders and management teams, guiding them through investment rounds from start up, through to scale up and exit.

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