Paige pulls in another $20m in Series B round

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 im…

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Abbott shares take hit after Goldman Sachs lowers rating

Abbott (NYSE:ABT) shares took a hit this week after Goldman Sachs reduced its rating on the stock to sell, from neutral.

The dip also comes on the back of an urgent field safety notice warning on issues with the TactiCath quartz contact force ablation catheter.

According to The Street, Goldman Sachs advised investors on June 1 to sell Abbott stock, claiming it “lost its early lead in coronavirus tests to competitors.” The report also mentioned that while the company has delivered on heightened expectations for testing, there had been concern over testing accuracy.

The safety notice, dated on May 28 and issued in Germany, warns of complaints regarding a loss of contact force information while using the TactiCath product. This issue could cause ineffective ablation that could lead to atrial fibrillation (AF) recurrence or need for the procedure to be repeated.

On May 29, a day after the notice was issued, Abbott shares were trading at $9…

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