AI-pathology company Paige today announced it received an additional $15 million from Goldman Sachs, bringing its Series B funding round to $70 million.
The previously announced round also included $5 million from and Healthcare Venture Partners, which added to its previous $10 million investment. Goldman Sachs had also invested $5 million in April.
New York-based Paige, a spinout from Memorial Sloan Kettering Cancer Center, said it will use this new capital to improve cancer pathology workflows and to work with biopharma companies to create custom diagnostic and clinical trial solutions.
“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,” said Paige CEO Leo Grady in a news release. “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.”
The company also named Goldman Sachs managing director David Castelblanco to its board of directors.
“We have been very impressed with the company and its pace of development,” Castelbanco said. “We are excited to increase our commitment to support Leo, Thomas and the Paige team’s transformative work with artificial intelligence and machine learning in the cancer field.”
A study published in Nature Medicine in 2019 found that Paige’s computational decision-support systems can help clinicians diagnose and treat cancer.