Paige, a New York-based provider of computational pathology for diagnosing and treating cancer, raised an additional $25 million in Series C financing, bringing the round to over $125 million.
Casdin Capital and Johnson & Johnson Innovation – JJDC co-led the funding round. Additional investors in the Series C round include Catalio Capital Management and existing investors.
Including the latest funding round, Paige has raised over $220 million to date. The company plans to use the new capital to expand its geographic footprint as it accelerates the development of AI-based clinical applications, biomarkers, and diagnostics.
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.
“We are grateful for the support of our stellar investors who share our mission to drive the future of precision medicine,” said Leo Grady, Ph.D., CEO of Paige.
Leo Grady added: “Paige is committed to transforming the diagnostics space by building an industry-leading portfolio of AI-based clinical applications, biomarkers, and diagnostics and investing in the necessary areas to establish the technology long-term. This investment puts us in a strong position for growth over the next few years and beyond.”
“KKR is committed to supporting differentiated companies such as Paige that are reimagining how technology can support health care providers and diagnostics,” said Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR. “With its cutting-edge technology platform and strong management team, we believe that Paige is well-positioned for sustainable growth.”
Clinical Decision Support raised $1.2 billion VC funding in 2020, a 55% increase in funding, compared to $748 million raised in 2019. Recently, L7 Informatics, a precision medicine software provider for life sciences and healthcare organizations, announced that it closed a $13 million Series B financing round. Learn more