A $100 million Series C round of funding was raised by the NYC-based digital diagnostics business Paige. Johnson & Johnson Innovation – JJDC, Inc. (JJDC), the company’s strategic venture capital arm, and Casdin Capital jointly led the deal.
The round also includes participation from other funds and existing investors. The company plans to use the funds to expand its engineering and commercial teams, with plans to hire about 70 new employees in 2021.
Accelerate the development of AI-based clinical applications, biomarkers, and diagnostics, and invest in sales and marketing efforts to scale product adoption by hospitals and labs.
Paige Announces Series C Funding Round of $100 Million to Accelerate Transformation of Digital Pathology
In order to accelerate the Company’s efforts to transform digital pathology, Paige, a leader in AI-based digital diagnostics, today announced a Series C funding round of $100 million.
This money will be used to help pathologists, care teams, and researchers make decisions more confidently and effectively to improve outcomes.
Johnson & Johnson Innovation – JJDC, Inc. (JJDC), the company’s strategic venture capital arm, and Casdin Capital jointly led the Series C funding.
The round also includes participation from other funds and existing investors. Paige will invest in sales and marketing initiatives in addition to expediting the development of AI-based clinical applications.
Biomarkers, and diagnostics to hasten the acceptance of its products by hospitals and laboratories.
As a result, the Company will continue to grow by strengthening its engineering and commercial teams. It expects to hire roughly 70 new people in 2021, more than doubling its current workforce.
Paige’s $100M Series C, Carrum Health’s $40M Series A and More Digital Health Funding News
Paige (previously Paige.AI), a platform for AI-enabled diagnosis and therapy, has announced a $100 million Series C financing headed by Casdin Capital and Johnson & Johnson Innovation.
The fundraising also included participation from undisclosed funds and previous investors in the firm. In order to assist oncologists and pathologists in making judgments more quickly, precisely, and affordably, Paige uses computational and digital pathology.
It said that the funds would support sales and marketing efforts while also accelerating the development of its technology offering.
In order to accomplish this, Paige intends to add around 70 new employees to its technical and commercial teams in 2021.
By the year 2017, Thomas Fuchs, Dr. Sc., had founded Paige. the Memorial Sloan Kettering Cancer Center, as well as associates (MSK). The business creates computational pathology tools so that patients and the people who care for them can make wiser, more effective treatment choices.
Paige developed a platform to bring this cutting-edge technology to pathologists, transforming their workflow and boosting productivity and diagnostic confidence.
This new class of AI-based solutions is poised to shape the future of diagnostics. For pathologists and oncologists to quickly get more accurate patient diagnoses, Paige’s tools provide insights.
The FDA has granted the breakthrough designation to Paige as the first business for its computational pathology solutions.