International legal practice Osborne Clarke has advised Oxford-based MedTech company providing breakthrough AI platform to diagnose and treat early-stage lung cancer, Optellum on its US$14 million Series A funding round led by Mercia, with additional investors Intuitive Ventures and Black Opal Ventures.
The Osborne Clarke team was led by Partner Justin Starling who was supported by Associate Director Elizabeth Yell, Associate George Baker Baker and Paralegals Fern Tawera and Susannah Cox.
Lung cancer is the most common type of cancer and the leading cause of cancer deaths globally. As a leader in AI-enabled lung cancer diagnosis, Optellum provides a first-of-a-kind platform which helps physicians to identify and track at-risk patients and diagnose the signs of lung cancer early, to ensure treatment can begin sooner for patients with tumours and to reduce invasive procedures.
The capital will allow Optellum to scale its base, operations and commercial launches in both the UK and USA, accelerate research and development; and expand its platform into personalised therapy decisions by integrating imaging data with molecular data, robotics and liquid biopsies.
Justin commented: "Optellum's technology looks certain to be transformative in the diagnosis of lung cancer. We're thrilled to have supported the team on this fundraising round, which will be critical in driving forward the platform and saving lives through early diagnosis and treatment."
Jason Pesterfield, CEO at Optellum, commented: "The Osborne Clarke team was a great partner during the entire series A fundraising process from start to finish. We could not have been more pleased with their deep domain expertise, commitment to our key stakeholders, and ability to collaborate with the multiple parties involved with the financing.”
Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the life sciences and healthcare sector. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.