NEW YORK ─ Digital pathology firm PathAI on Tuesday announced that it has closed a $165 million Series C financing.
The Boston-based firm said it will use the new funding to accelerate product development and prioritize collaborations with pharmaceutical and diagnostic partners, and expand its product suite to augment the drug development process, from translational and exploratory research to commercialization.
PathAI said it will also develop a broad menu of AI-based pathology products for biopharma that target disease indications beyond oncology and nonalcoholic steatohepatitis, and develop a scalable workflow platform for contract research organizations and reference lab partners.
This Series C financing round was co-led by D1 Capital Partners and Kaiser Permanente. Other investors included General Atlantic, Tiger Global Management, 8VC, Adage, Biospring Partners, General Catalyst, KdT Ventures, Polaris Partners, and Refactor Capital. Strategic partners Bristol-Myers Squibb, Laboratory Corporation of America, and Merck Global Health Innovation Fund also participated.