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Paige is dedicated to its mission to create and deliver advanced computational diagnostics for pathologists and oncologists, which have been shown to work effectively across different slide preparation methodologies and the scanners used to digitize the images. The company looks to accelerate commercial efforts in the U.S. and expansion in Europe, Brazil, and Canada
Fremont, CA: New York-based computational pathology startup Paige raised USD 45 million in a Series B funding round led by Healthcare Venture Partners, with participation from Breyer Capital, Kenan Turnacioglu, and other funds. Over the years, the company has grown its digital slide archive to more than 1.2M images. It is simultaneously developing systems to combine digital slides with genomic, drug response, and outcome information to create robust new diagnostic solutions. “The funding comes on the heels of a milestone year: Paige achieved the first FDA breakthrough designation for AI technology in Pathology and Oncology and later received the first CE mark in the space,” said Thomas Fuchs, Founder of Paige and a researcher at Memorial Sloan Kettering (MSK).
The market leader in computational pathology transforming the diagnosis and treatment of cancer will use the proceeds from the funding round towards FDA clearance of its products and expand its portfolio, delving deeper into cancer pathology, novel biomarkers, and prognostic capabilities. The company also looks to accelerate commercial efforts in the U.S. and expansion in Europe, Brazil, and Canada. "This influx in funding reflects the acknowledgment and recognition that Paige's technology is ready for prime time," said Leo Grady, CEO at Paige. "We believe that AI will have a transformative impact on pathology and cancer care by improving pathology quality, throughput, costs, and by enabling new biomarkers and diagnostics. We are committed to offering these powerful technologies to hospitals around the world, and helping biopharma more effectively treat their patients and bring new therapies to market faster."
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Paige is dedicated to its mission to create and deliver advanced computational diagnostics for pathologists and oncologists, which have been shown to work effectively across different slide preparation methodologies and the scanners used to digitize the images. The company looks to deliver its powerful technology via partnerships, such as the recently announced Philips deal and Paige's AI-native platform, which is designed to help doctors maximize the benefits of these solutions while addressing the infrastructure and interoperability hurdles encountered by many of the early adopters of digital pathology.
“Paige exemplifies the benefits of digital pathology and represents the bright future of AI-driven medical diagnosis,” said Jeff Lightcap of Healthcare Venture Partners. “As hospitals embark on digital transformations, they will face challenges associated with these transitions. We believe Paige addresses many of these issues by enhancing the ability of clinical teams and pathologists to collaborate. We’re confident in Paige’s future and believe they will continue to develop cutting-edge technologies that enable pathology departments to transform their practices, which have changed little in the last century.”
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