Cells

Albion Ventures fuels Mirada Medical growth with GBP1m investment

Mirada Medical has received additional funding from Albion Ventures to accelerate the company’s growth plans.

The investment will fuel the expansion of Mirada’s product distribution worldwide and support accelerated product development through the addition of new scientific and engineering positions at its Oxford, UK headquarters.
 
Mirada’s products are designed to simplify technically complex image quantification, allowing clinicians to confidently diagnose disease, assess response to treatment and plan radiation therapy or surgical intervention.
 
Albion Ventures is investing a further GBP0.85m Mirada Medical, in addition to new equity which was acquired by the employees and founders of the company. This follows Albion’s initial investment of GBP1.5m in 2008.
 
“Mirada has been an excellent investment for Albion and we are delighted to support its continued growth” says David Gudgin, partner at Albion Ventures. “Since our initial investment, 80 per cent of the Mirada’s sales have been generated from outside the UK, demonstrating how VCT funding can help to generate export-led growth. We look forward to helping the firm to grow sales of its proven imaging software.”
 
Mirada’s imaging software being selected by world leading cancer centres and hospitals around the globe, including: Oxford Cancer Centre, Clatterbridge Cancer Centre, Gray Institute for Radiation Oncology and Biology, Rikshospitalet, Copenhagen, MD Andersen Cancer Centre, Johns Hopkins Medical Centre, Memorial Sloan Kettering Hospital and UCLA.
 
"We are delighted to continue partnering with Albion and their investment will play a key role in driving the business forward,” says Hugh Bettesworth, CEO of Mirada Medical. “Their support acknowledges our ability to deliver on our plans and will enable our further rapid expansion into global healthcare markets.”

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