The US-based AI-powered healthcare startup, Paige, that transforms the diagnosis and treatment of cancer has announced that it has received an additional $15 million funding from Goldman Sachs Merchant Banking Division, totaling $20 million from the firm.
The latest capital will be added to earlier announced Series B financing, bringing the total round to $70 million, including additional $5 million funding from Healthcare Venture Partners on top of its previous $10 million investment. The recent funding brings the startup’s total raised capital to more than $95 million.
Paige’s CEO Leo Grady said that the recently raised funds would go into various segments, such as adding new headcounts to the firm, investing in clinical work, and expanding its partnerships with biopharmaceutical companies in the UK and Europe.
In 2017, David Klimstra, Norman Selby, and Thomas Fuchs founded Paige as a health-tech startup that employs AI to help doctors diagnose cancer. Its mission is to revolutionize the treatment and diagnosis of cancer by offering pathologists, clinicians, and researchers with insights drawn from decades of data diagnosed by global experts in cancer care.? With the help of AI, Paige has revolutionized the future of pathology by creating an AI-native digital pathology ecosystem to enable the pathologist to reach lower cost diagnosis and treatment, higher quality, recommendations, and faster throughput. In addition, the startup boosts new biomarker discovery to established to generate new insights into drug efficacy and pathways.
Leo Grady said, the time in which Goldman made its initial $5 million funding in April was when COVID-19 had hit hard, and it was realizing the magnitude. It wanted to witness how things played out for Paige in the economy. But the way it has undergone has been encouraging. As a part of the investment, Goldman Sachs MD David Castelblanco has come on-board as Paige’s board of directors.
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