In a Series C round led by Casdin Capital, Paige revealed on January 14 that the AI-based computational diagnostics company has raised $100M.
Contents
Key Takes:
- Paige raised $100 million in a Series C funding round led by Casdin Capital and Johnson & Johnson
- Funds will be used to scale computational biotech products, expand the team, and hire new talent
- The company has raised a total of $220 million to date
- Paige uses computational pathology to build digital health products for healthcare teams
- Becomes the first company to receive FDA breakthrough designation to build AI-driven products
- Eli Casdin sees Paige as a unique opportunity for next-gen cancer diagnostics
The latest $100 million funding, according to Paige, will be used to grow their existing AI-based healthcare applications as well as marketing to scale their computational biotech products to more hospitals and health institutions. Paige also revealed that the company will use these funds to expand its team and plans to hire new talent in 2021. [Computational Paige 100M Series Casdin Capital]
As Paige has huge plans to succeed in the world of AI and healthcare, the latest investment will fuel the team’s passion for growth and helping the whole medical world. The 100 million dollars Series C investment round was led by Casdin Capital and Johnson and Johnson.
About Paige
Paige is an AI-based computational biotechnology company with a goal to help the healthcare industry get digitalized and benefit from the recent boom in Artificial Intelligence. Paige incorporates healthcare products, especially in computational pathology, to bridge the gap between patients and their treatment options.
Based in New York, Paige has raised a total of $220 million to date, from eight investors with Goldman Sachs Merchant Banking Division, Healthcare Venture Partners, KKR Real Estate Finance Trust, Johnson & Johnson, and Casdin Capital being the lead investors. In its Series A round led by Breyer Capital back in February 2018, Paige raised $25 million. [Computational Paige 100M Series Casdin Capital]
Founded in 2017 by Dr. Thomas Fuchs, also known as the father of computational pathology, Paige uses computational pathology to build digital health products for healthcare teams, allowing them to take better and more effective treatment decisions using AI.
Paige takes into account data privacy and ensures patient security. To prove Paige’s credibility and reputation in healthcare, it is enough to mention that Paige is the first of its kind to receive FDA breakthrough designation to build AI-driven products incorporating the elements of computational pathology.
Casdin Capital CEO, Eli Casdin, on Paige
“Paige combines all three: Robust AI capabilities, access to millions of digital pathology images linked to the key clinical data modalities of imaging, genomic, and clinical/EMR data, and a growing team purpose-built to deliver. This is a unique opportunity to transform data into the next generation of cancer diagnostics and therapeutics, with clear application beyond cancer, and we are excited to be joined by JJDC to fuel the company to deliver on this opportunity.”
Paige CEO Leo Grady on Paige and $100 Investment
“This investment reaffirms the vast potential of the Paige platform for clinical and biopharmaceutical drug development applications. These funds will enable us to build additional AI-based products within and outside of oncology, deliver these products to laboratories and clinicians globally, and invest in our talent across engineering and commercial functions.” [Computational Paige 100M Series Casdin Capital]
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