Paige, A computational pathology startup spun out of Memorial Sloan Kettering, raised $100 million in a collection C funding spherical. The New York-based firm is growing medical resolution help instruments for pathologists, and plans to make use of the funds to additional advance its expertise.
Paige was began in 2018 by Dr. Thomas Fuchs, who spun out the corporate from analysis at Memorial Sloan Kettering Most cancers Heart. The startup had a analysis settlement to obtain de-identified photographs of digitized pathology slides, which it’s utilizing to make AI instruments throughout a number of most cancers subtypes, and the Memorial Sloan Kettering holds an fairness stake within the firm.
Earlier this yr, Paige obtained 510(ok) clearance from the Meals and Drug Administration for a digital pathology picture viewer. It additionally obtained a Breakthrough Machine designation from the FDA for an AI software for most cancers prognosis.
None of Paige’s medical resolution help instruments are but cleared for use for diagnostics within the U.S. However in Europe, it has two CE-marked options to detect areas of suspected prostate most cancers or breast most cancers.
With the brand new funds, Paige plans to double its headcount, with roughly 70 new staff throughout its engineering and industrial groups.
“This funding reaffirms the huge potential of the Paige platform for medical and biopharmaceutical drug growth purposes,” Paige CEO Leo Grady mentioned in a information launch. “These funds will allow us to construct extra AI-based merchandise inside and out of doors of oncology, ship these merchandise to laboratories and clinicians globally, and put money into our expertise throughout engineering and industrial features.”
Photograph credit score: Abscent84, Getty Photographs