Paige.AI, a health technology company that applies artificial intelligence to pathology for cancer diagnosis and treatment, recently announced it landed $25 million in Series A funding, led by Jim Breyer of Breyer Capital.
“Patients deserve and need an accurate diagnosis as quickly as possible, yet our current methods are time-consuming, expensive and subjective,” Dr. David Klimstra, cofounder of Paige.AI and chairman of the Department of Pathology at Memorial Sloan Kettering Cancer Center, said in a statement. “The field is ripe for innovation and we are confident that Paige.AI will aid pathologists in detecting disease better and faster. With computational pathology, pathologists can redirect their efforts toward more sophisticated tasks, such as integrating histologic findings with other diagnostic analyses.”
The New York-based company plans to continue to develop computational programs across diagnostic pathology. It will start by focusing on clinical applications in breast cancer, prostate cancer, and other common cancers.
Paige.AI also announced a comprehensive licensing agreement with Memorial Sloan Kettering, which will allow the company to have exclusive access to MSK’s computational pathology intellectual property and library of pathology slides. The company said that currently pathologic diagnosis relies on a manual process where pathologists interpret glass slides using a microscope.
This new method of computational pathology will incorporate digital pathology, which the company claims will help pathologist make decisions faster and more accurately and at a lower cost. Pagie.AI does this through the relying on a large set of data and reducible algorithms, and the MSK partnership will greatly expand this data set.
The company said pathologists will be able to move from compiling data to interpreting data. The technology is also fully integrated into lab information systems, according to the company's website.