Penningtons Manches acts for leading AI medical imaging software specialists on £6 million investment

Posted: 25/04/2019

Penningtons Manches has acted for Oxford based Mirada Medical on its recent £6 million investment from private equity healthcare specialists, Apposite Capital. Mirada is a leading developer of artificial intelligence (AI) based software which increases the speed and accuracy of cancer treatment planning applications, while delivering a more personalised level of care to patients. Apposite has invested alongside Mirada’s founding investor, Albion Capital, and other private investors. The Penningtons Manches team was led by Oxford partner Will Axtell, supported by senior associate Attilio Leccisotti and tax partner Kathy Hills.

Hugh Bettesworth, CEO of Mirada Medical, said: “The use of AI in healthcare is growing quickly. We are excited to be able to accelerate our development of AI-based cancer treatment planning. Apposite’s focus on healthcare and their solid pedigree in the Radiation Therapy sector provides Mirada with invaluable resource over and above the significant financial investment they have made. I am very grateful to Will and the team at Penningtons without whose dedicated support we could not have completed this important transaction.”

Will Axtell, corporate partner, said: “It was very rewarding to work on this deal and help Mirada to secure this funding. We expect Mirada’s products to have a transformative impact on the day-to-day provision of cancer care, through the deployment of advanced AI-powered technology. It is an exciting time to be working in the “golden triangle” of London, Oxford and Cambridge!”

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