Paige, a computational pathology platform, announced today an additional $15 million from Goldman Sachs Merchant Banking Division, bringing the total capital from the firm to $20 million.
Healthcare Venture Partners also contributed an additional $5 million on top of its previous $10 million investment.
With this funding, the previously announced Series B financing round increased to $70 million in total. Paige has raised over $95 million in total funding.
WHAT THEY DO
Paige develops artificial intelligence tools to help oncologists and pathologists make faster decisions about caring for cancer patients.
The company has modules that aid in cancer detection, tumor segmentation, treatment plans based on patient response predictions.
Memorial Sloan Kettering Cancer Center has deployed Paige’s products institution-wide and has a claim on the company’s intellectual property rights and interest.
WHAT’S IT FOR
Paige says the new funds will be used to continue the growth of its platform by working with biopharma companies to create diagnostic and clinical improvements to patient care.
Bringing AI into the field of oncology has become a trend, as Google recently joined the space. In a study, Google’s AI breast cancer screening system was found to reduce the number of both false positives and false negatives in breast cancer detection.
ON THE RECORD
“We appreciate the continued recognition and support we’ve received from Goldman Sachs as we gain traction and prove early results in the clinical and biopharma space,” Dr. Leo Grady, the CEO of Paige, said in a statement. “This new funding will help ensure that the Paige Platform and our advanced computational pathology products will drive the next generation of pathology and improve cancer care globally.”