Paige AI Closes $70M Series B to Advance AI-Powered Cancer Pathology
Paige, the computational pathology startup spun out of Memorial Sloan Kettering Cancer Center, has successfully closed its Series B funding round at \(70 million. The latest \)20 million investment comes from Goldman Sachs and Healthcare Venture Partners, signaling strong confidence in the company’s AI-driven approach to cancer diagnostics.
Funding Fuels Expansion and Innovation
CEO Leo Grady outlined key priorities for the capital infusion:
- Strategic hiring to grow their world-class team
- Partnership expansion with biopharmaceutical companies (including undisclosed collaborations)
- Clinical development of their proprietary AI algorithms trained on 25+ million pathology slides from MSK’s archives
- European expansion, building on existing CE-marked beta sites in the UK and EU
Impressive Growth Trajectory
With total funding now exceeding \(95 million from investors including Breyer Capital and MSK, Paige continues to demonstrate remarkable momentum. The company's valuation reportedly stood at \)208 million during the first tranche of this round in December 2019.
“Despite challenging economic conditions, our performance has been encouraging,” Grady noted, referencing Goldman Sachs’ increased commitment after their initial $5 million investment in April 2020.
Pandemic Highlights Digital Pathology Advantages
While not directly researching COVID-19, Paige’s digital pathology platform has proven particularly valuable during the pandemic by enabling:
- Remote collaboration between clinicians
- Secure sharing of research data without physical slide transfers
- High-performance analysis surpassing traditional proprietary viewers
Cutting-Edge Technology with Clinical Impact
Co-founded by computational pathology pioneer Dr. Thomas Fuchs and renowned pathologist Dr. David Klimstra, Paige’s platform offers:
- Advanced digital slide viewing capabilities
- AI-powered analysis of prostate and breast cancers (with expansion to other cancers underway)
- Workflow integration that enhances diagnostic confidence and data quality
Investor Confidence Grows
David Castelblanco, MD at Goldman Sachs, has joined Paige’s board, stating: “We’re excited to support Paige’s transformative work applying AI and machine learning to cancer care.”
Jeffrey C. Lightcap of Healthcare Venture Partners added: “Paige’s rapid progress confirms our belief in their potential to revolutionize cancer diagnostics.”
As digital pathology gains momentum, Paige stands at the forefront of integrating AI with clinical practice to improve cancer detection and treatment worldwide.
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