Ultromics, a company spun out of the University of Oxford in 2017 by Dr. Ross Upton and Professor Paul Leeson, has successfully raised $55 million in Series C funding to address the critical and costly issue of undiagnosed heart failure. The financing round, co-led by L&G, Allegis Capital, and Lightrock, with participation from major U.S. health systems like UChicago Medicine and UPMC Enterprises, will be used to scale the company's AI-driven diagnostic platform, EchoGo®, across the United States. EchoGo® is a software-as-a-service (SaaS) platform that uses deep learning to analyze a single, routine echocardiogram video clip, extracting hidden disease signals to detect hard-to-diagnose conditions such as heart failure with preserved ejection fraction (HFpEF) and cardiac amyloidosis. While HFpEF often presents with symptoms similar to other conditions, making it difficult to diagnose, cardiac amyloidosis is frequently mistaken for more common heart diseases. These diagnostic challenges mean that up to 64% of HFpEF cases go undetected, delaying treatment and contributing to the over $30 billion in annual healthcare costs driven by heart failure in the U.S. Ultromics' technology, which has been validated across 25 peer-reviewed studies and has analyzed over 430,000 echocardiograms to date, has been shown to improve the detection of HFpEF by 73.6% compared to standard clinical risk scores.

The platform is FDA-cleared and reimbursed by Medicare, which provides a strong foundation for its widespread adoption in hospitals, clinics, and health systems, and Ultromics is actively expanding its pipeline to include diagnostics for additional cardiac conditions.