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Memorial Sloan Kettering start-up lands $25M investment for its AI-based approach to cancer pathology

By Jesse Schwartz
Published: February 14th, 2018

A spinoff from Memorial Sloan Kettering (MSK) in New York has closed $25 million in Series A funding to commercialize its AI-based approach to cancer pathology.

Launched by MSK researchers Thomas Fuchs and David Kilmstra, Paige.AI has also signed a deal with MSK Cancer to have exclusive access to 25 million pathology slides and other intellectual property related to computational pathology. MSK will receive equity as part of the licensing deal.

According to the researchers, cancer pathology processes haven’t changed in over a century. Everything is done manually, and none of the processes can keep up with the increasing amount of data that researchers are now able to obtain from a patient.

Paige.AI is working to train its AI platform about as many examples of cancers, diagnoses, and outcomes as it can. That’s where the millions of MSK slides come in. Then the start-up “teaches” its system the knowledge and expertise from existing researchers to make the best use of the data. Paige.AI plans to focus first on breast, prostate and other major cancers.

“Patients deserve and need an accurate diagnosis as quickly as possible, yet our current methods are time-consuming, expensive and subjective,” says Kilmstra. “The field is ripe for innovation, and we are confident that Paige.AI will aid pathologists in detecting disease better and faster. With computational pathology, pathologists can redirect their efforts toward more sophisticated tasks, such as integrating histologic findings with other diagnostic analyses.”

Jim Breyer of Breyer Capital led Paige.AI’s $25 million funding round. “Paige.AI is poised to become a powerhouse in computational pathology and an undisputed leader among thousands of healthcare AI competitors,” says Breyer. “Today, we take a major step forward in harnessing machine learning and more fully realizing its promise for cancer diagnostics and treatment.”

Source: TechCrunch

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