Oxford UK-based Optellum has raised $14 million in Series A financing led by Mercia, followed by Intuitive Ventures and Black Opal Ventures as well as existing investors St John’s College in the University of Oxford, IQ Capital, and the family office of Sir Martin & Lady Audrey Wood.

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

Optellum is the leader in AI-enabled lung cancer diagnosis and its software platform Virtual Nodule Clinic can help physicians identify and track at-risk patients, and optimally diagnose the signs of lung cancer early.

Jason Pesterfield, CEO at Optellum, said: “With this strong support and commitment of highly specialized investors, we are positioned to accelerate commercial deployment in both the UK and the United States to expand our installed base. Following years of research and clinical trials that have shown the impact of our software on the diagnosis of at-risk lung nodules, we’re focused on expanding patient access to this crucial technology and identifying deadly lung cancer faster in more at-risk people. The funding will also boost our research and development with world-leading institutions and partners to progress further innovation.”

Optellum‘s platform was developed and clinically validated in partnership with leading universities and healthcare systems around the world. Optellum also has strategic collaborations with GE Healthcare and the Lung Cancer Initiative at Johnson & Johnson to accelerate clinical deployments and continue the advancement of the platform. In the UK, Optellum’s solution is being used to predict at-risk lung nodules in a multi-center study with NHS Trusts as part of a major investment in AI for healthcare.