Odin Vision, a UCL spinout company that develops AI-driven endoscopy technology to help better detect cancer, has been acquired by Olympus Corporation (Olympus) for up to £66 million.
Odin is a world-leading pioneer of cloud AI-enabled applications for endoscopy, that enables clinicians to detect some early stage colorectal and oesophageal cancers.
The acquisition deal will see Olympus acquire Odin’s entire portfolio of award-winning AI solutions, enabling Odin’s life-saving tools to reach millions of new patients around the world.
UCLTF provided early stage funding to Odin in 2019, when the spinout launched based upon the research of Patrick Brandão, Professor Danail Stoyanov and Professor Laurence Lovat, based at the UCL Wellcome / EPSRC Centre for Interventional and Surgical Sciences.
David Grimm, Investment Director, UCLTF added: “Odin is a fantastic example of world-class research at UCL being backed with capital and support to enable their entrepreneurial journey. It’s been wonderful to work with this great team and be part of their journey from laboratory to real-world, scaled impact and outstanding financial return.”
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