University of Oxford, OSI and Parkwalk Advisors all returned for Oxford Endovascular’s $10m series A round.

Oxford Endovascular, a UK-based medical device developer focused on brain aneurysms that is based on research at University of Oxford, has raised $10m in a series A round featuring the institution.

University venture fund Oxford Sciences Innovation also took part in the round, as did Parkwalk Advisors, the fund management subsidiary of commercialisation firm IP Group. The round was led by Vulpes Investment Management.

Additio Investment Group, Perivoli Innovations, Oxford Investment Consultants and private investors also took part.

Founded in 2015, Oxford Endovascular has developed a micro stent, called OxiFlow, that can be inserted into brain blood vessels through a minimally invasive procedure. The device lies across the base of an aneurysm, helping it shrink and heal.

The series A financing has been allocated to completing development work and an early feasibility clinical study.

Nick Dixon-Clegg, investment principal at Oxford Sciences Innovation, said: “Oxford Sciences Innovation has invested in Oxford Endovascular since seed stage, and we are pleased to continue to do so whilst welcoming new investors Vulpes and Additio into the syndicate, allowing the life-changing OxiFlow device to be progressed towards the clinic.”

Parkwalk previously inserted an undisclosed amount of funding in 2018, building on a $2.9m seed round in 2016 supplied by OSI and the Parkwalk-managed University of Oxford Innovation Fund.