Paige, a New York-based provider of computational pathology for diagnosing and treating cancer, raised $100 million in a Series C financing round.
The funding round was led by Casdin Capital and Johnson & Johnson Innovation – JJDC, the strategic venture capital arm of Johnson & Johnson. Existing investors and other funds are also participating in the round.
Paige plans to use new funds to accelerate the development of AI-based clinical applications, biomarkers, and diagnostics. With new funds, the company will further expand its engineering and commercial teams.
Paige.ai integrates machine learning and clinical-grade computational pathology with electronic health records, genomics, and other clinical data to help oncologists and clinicians make faster, more informed diagnostic and treatment decisions.
“Paige is building a transformational portfolio of computational pathology products to serve clinical needs and drive precision medicine,” said Leo Grady, Ph.D., Chief Executive Officer, Paige.
“This investment reaffirms the vast potential of the Paige platform for clinical and biopharmaceutical drug development applications. These funds will enable us to build additional AI-based products within and outside of oncology, deliver these products to laboratories and clinicians globally, and invest in our talent across engineering and commercial functions.”
Paige.ai, founded in 2018, has raised over $195 million to date, including a $15 million Series B funding in 2020 from Goldman Sachs Merchant Banking Division.
Eli Casdin, Chief Investment Officer of Casdin Capital, adds: “Bending the mortality curve on cancer is a humbling and critical goal requiring big data, big technology, and big talent. Paige combines all three: Robust AI capabilities, access to millions of digital pathology images linked to the key clinical data modalities of imaging, genomic, and clinical/EMR data, and a growing team purpose built to deliver. This is a unique opportunity to transform data into a next generation of cancer diagnostics and therapeutics, with clear application beyond cancer, and we are excited to be joined by JJDC to fuel the company to deliver on this opportunity.”
Clinical Decision Support raised $1.2 billion VC funding in 2020, a 55% increase in funding, compared to $748 million raised in 2019. Learn more