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Digital Pathology Firm Techcyte Closes $21M Financing Round

NEW YORK – Digital clinical pathology company Techcyte said recently it has closed a $21 million financing round.

Zoetis, ARUP Laboratories, and existing investors participated in the round. The funding will go toward commercialization of the Utah-based firm's digital clinical pathology platform, it said. Specifically, the proceeds and revenues from its veterinary business will enable Techcyte to continue growing that business, as well as accelerate its entry into the human market by completing "multiple" 510(k) clearance submissions to the US Food and Drug Administration and expanding its work with ARUP and other partners.

In early 2019, Techcyte and ARUP announced a partnership to develop and commercialize digital diagnostic solutions. This past April, the two partners along with the University of Utah said they would collaborate on the development of a SARS-CoV-2 antibody test that would provide results in less than five minutes using blood from a finger stick.

Techcyte's clinical pathology platform is for digital slide management and image analysis and includes a slide viewer, lab workflow, and integration with whole-slide scanners and lab information systems, it said.