Brain Mapping Pioneer Omniscient Neurotechnology Raises AUD 40 Million In Series B Financing
Omniscient Neurotechnology a pioneering brain mapping technology company, announced the completion of an AUD 40 million Series B financing round. The funding was led by family offices and high-net worth individuals, including Hancock Prospecting’s Executive Chairman Mrs. Gina Rinehart, and prominent fund manager Will Vicars.
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Using innovations in medical imaging and machine learning, Omniscient builds applications capable of modelling and analyzing connectomes or brain networks which are formed by the electrical connections within an individual’s brain. This technology transforms complex brain data into clear insight for doctors, psychologists, neuroscientists and brain technology innovators to better treat neurological disorders and mental illnesses.
Omniscient is a global leader in the groundbreaking field of “connectomics”, a global interdisciplinary effort to study brain connectivity which has helped identify and understand individual brain networks responsible for functions such as language, emotion, and cognition. The closing of this financing round represents a transition from breakthrough neuroscience to real-world applications.
The funding will allow Omniscient to accelerate its research and product portfolio, and expand its science, engineering, and sales teams globally. Additionally, the company will expand market access to its research platform, Infinitome, and its neurosurgical planning platform, Quicktome, which recently received U.S. Food and Drug Administration clearance.
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“We are delighted to have such strong support from our outstanding investors,” said Stephen Scheeler, Chief Executive Officer of Omniscient Neurotechnology. “This investment will allow us to advance our research and expand our portfolio of medical device and research solutions, which will transform the lives of the millions who suffer from brain-related disorders, including Alzheimer’s disease, depression, chronic pain, and brain cancer.”
“If you look at a brain scan today, many disorders such as depression are invisible – there’s nothing physically there to see,” said co-founder and Omniscient’s Chief Medical Officer, Dr. Michael Sughrue. “Observing the brain’s connections tells a very different story. Brain surgery is where we wanted to start, because neurosurgeons have an urgent need for brain mapping to guide surgical decisions. Our software processes MRI scans to provide a detailed map of an individual’s brain networks, specifically tailored to each patient.”
Prior to founding Omniscient Neurotechnology, Dr. Michael Sughrue was one of the most prolific neurosurgeons in the US, having performed over 3,000 brain tumor surgeries. His collaboration with Dr. Stephane Doyen, a Cambridge-trained neuroscientist and prominent leader in data science, led to the creation of the first commercial platform to harness connectomics.
“Omniscient is at the forefront of advancing brain connectomics. The brain is the most challenging big data problem there is, and probably the most important of our generation,” said Dr. Stephane Doyen, Co-Founder and Chief Data Scientist at Omniscient Neurotechnology. “I am excited that our team proven its ability to deliver revolutionary platforms in neurosurgery and look forward to advancing new products to improve the lives of patients worldwide.”
“We see Omniscient as the clear leader in this nascent field of brain connectomics,” said Will Vicars. “The progress made by Stephen and the team in the last few months have been incredible, and we look forward to their continued growth across a broad range of different areas from depression to brain surgery.”
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