NEW YORK ─ Computational pathology firm Paige said on Monday that it has received $15 million in Series B funding from Goldman Sachs' Merchant Banking division, bringing the total funding received from the bank to $20 million.
The new funding will be added to a Series B financing round that New York City-based Paige announced in 2019, which included funding from Healthcare Venture Partners, Breyer Capital, Kenan Turnacioglu, and others. It brings Paige's total Series B funding to $70 million and its total capital raised to more than $95 million.
The firm said it will use the new capital to further develop cancer pathology workflows and work closely with biopharma companies to create custom diagnostic and clinical-trial solutions to improve patient care.
"This new funding will help ensure that the Paige Platform and our advanced computational pathology products will drive the next generation of pathology and improve cancer care globally," Paige CEO Leo Grady said in a statement.
Paige was founded in 2017 by Thomas Fuchs and colleagues from Memorial Sloan Kettering Cancer Center. The firm uses artificial intelligence and deep-learning software to analyze and learn from large-scale datasets and recognize cancer cells on slide images.
The company recently named David Castelblanco, managing director at Goldman Sachs, as a new member of its board of directors.