We beforehand reported on Paige in April after Goldman Sachs’ New York-based synthetic intelligence startup obtained $ 5 million in Collection B funding to rework the analysis and remedy of most cancers. Paige develops software program to advance the analysis, remedy and discovery of biomarkers for most cancers.
At the moment, the Head of computer pathology introduced that the Goldman Sachs Service provider Banking Division obtained a further $ 15 million, a complete of $ 20 million from the corporate. The funding will probably be added to the beforehand introduced Collection B funding, bringing the entire spherical to $ 70 million, together with a further $ 5 million funding from Healthcare Enterprise Companions along with their earlier $ 10 million funding . Along with funding, Paige additionally introduced that David Castelblanco, Managing Director at Goldman Sachs, is a brand new member of the Board of Administrators.
Final yr, Paige was the primary firm to obtain breakthrough units for its AI to enhance scientific analysis and remedy for most cancers from the FDA (Meals and Drug Administration). Paige was additionally chosen as one of many 100 most modern startups for synthetic intelligence (AI).
Paige was based by Dr. Thomas Fuchs and colleagues from the Memorial Sloan Kettering Most cancers Middle based. The corporate develops highly effective clinical-grade pc applied sciences to rework analysis, remedy, discovery of biomarkers, and drug growth in most cancers. With AI, which is ready to open up a brand new future for most cancers remedy, Paige has created an AI-native ecosystem that allows pathology groups to realize increased high quality, sooner throughput, and cheaper diagnoses and remedy suggestions.
“We recognize the continued recognition and assist that Goldman Sachs has given us as we achieve floor and display early scientific and biopharmaceutical outcomes,” mentioned Leo Grady, Ph.D., CEO of Paige. “This new funding will assist the Paige platform and our superior computational pathology merchandise advance the following era of pathology and enhance most cancers care worldwide.”
With this new class of diagnostic instruments designed to drive the way forward for pathology, Paige has created a platform to supply pathologists with this novel know-how to rework their workflow and improve diagnostic confidence and productiveness. Paige’s light-weight platform is particularly designed for pathologists to supply an intuitive consumer expertise, reduce IT burden and price whereas making certain affected person security and information safety. Our merchandise present pathologists with insights to assist them diagnose sufferers effectively and precisely. Paige is the primary and solely firm to obtain the FDA award for breakthrough pathology merchandise.
“We had been very impressed with the corporate and its tempo of growth. We’re happy to strengthen our dedication to assist the transformative work of Leo, Thomas and the Paige group with synthetic intelligence and machine studying within the most cancers space, ”mentioned David Castelblanco.
Paige has additionally printed a number of publications by ASCO and Trendy Pathology that display the worth of the Paige providing. Not too long ago, Paige additionally obtained Frost and Sullivan’s 2020 Enabling Expertise Management Award within the North American AI-based digital pathology trade.
“We initially invested in Paige to acknowledge the potential of their merchandise, create important trade worth, and affect the way forward for most cancers remedy,” mentioned Jeffrey C. Lightcap, senior managing director of Healthcare Enterprise Companions. “After seeing that Paige made large progress in such a short while, we elevated our funding to additional speed up her progress.”
Goldman Sachs Group, Inc. was based in 1869 and is a number one world funding banking, securities and funding administration firm. The Goldman Sachs Service provider Banking Division (MBD) is the primary middle for the corporate’s long-term principal funding exercise. MBD is without doubt one of the world’s main non-public fairness traders with investments in non-public fairness, progress capital, infrastructure, non-public debt and actual property.