Paige, a New York-based healthcare startup focused on AI technologies, announced the completion of a Series B funding round worth $45 million.
Healthcare Venture Partners led the round, with Breyer Capital, Kenan Turnacioglu and other investors providing additional funds. The money is expected to go toward research and development, seeking FDA approvals, expanding the company’s portfolio and expanding into Europe, Canada and Brazil.
“This influx in funding reflects the acknowledgment and recognition that Paige’s technology is ready for prime time,” Leo Grady, Paige CEO, said in a prepared statement. “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.”
“Paige exemplifies the benefits of digital pathology and represents the bright future of AI-driven medical diagnosis,” Jeff Lightcap of Healthcare Venture Partners said in the same statement. “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.”
Back on Dec. 9, Paige and Royal Philips announced a new collaboration focused on giving pathologists access to Paige’s AI solutions.