NEW YORK ─ Digital pathology firm Paige said on Tuesday that it has raised more than $125 million in a total Series C round of financing.
Global investment firm KKR joined Casdin Capital and Johnson & Johnson Innovation as co-leads for the financing round, increasing the total amount raised from $100 million announced in January. KKR's investment is being funded through its Health Care Strategic Growth Fund, which is focused on investing in high-growth healthcare companies, Paige said.
Additional investors in the Series C round include Catalio Capital Management, existing investors, and other funds.
Paige added that it will use the financing to expand its geographic footprint as it accelerates the development of artificial intelligence-based clinical applications, biomarkers, and diagnostic tests.
"This investment puts us in a strong position for growth over the next few years and beyond," Leo Grady, CEO of Paige, said in a statement.
New York-based Paige, a 2017 spinout from Memorial Sloan Kettering Cancer Center, said that it has raised more than $220 million to date.