PathAI raises $75M for development of cancer therapies

PathAI, a Boston-based AI technology company focused on pathology solutions, announced it has raised $75 million in Series B funding.

Investments from the Merck Global Health Innovation Fund (Merck GHIF) and Bristol-Myers Squibb (BMS) closed out the funding, which PathAI said will go toward improving its “growing clinical development capabilities.”

“We have been fortunate to have the opportunity to work with both of these great companies, and we’re excited about the confidence they’ve shown in PathAI,” Andy Beck MD, PhD, PathAI co-founder and CEO, said in a prepared statement. “Merck, BMS and other strategic partners understand that having the best possible insight into the data is incredibly important for driving continued advancements in the rapidly moving field of immuno-oncology, ultimately helping to bring new and better treatments to patients faster.”

“We are pleased to join the latest PathAI investment round,” David M. Rubin, PhD, managing director of Merck GHIF, said in the same statement. “Their industry-leading work incorporating artificial intelligence into digital pathology, holds the potential to change the way we diagnose and treat cancer.”

PathAI’s Series B funding also includes investments from General Atlantic and General Catalyst. The company has raised more than $90 million overall since it was launched in 2016.