Deciphex, a Dublin, Ireland-based company developing digital pathology applications for clinical and toxicologic pathology, raised $2.3m in equity funding.
– IRRUS Investments,
– ACT Venture Capital,
– Enterprise Ireland,
– NextSteps Capital,
– Inova Personalised Health Accelerator, and
– GI Partners of Illinois.
The company intends to use the funds to accelerate its research and development in Artificial Intelligence and ramp up market entry in preclincial/toxicologic digital pathology.
Led by Donal O’Shea, Ph.D and CEO, Deciphex provides a software solution, which combines digital pathology with artificial intelligence, to provide physicians with a tool to increase productivity and allow them to focus on more complex cases.
The company has recently launched its first product for preclinical/toxicologic pathology, Patholytix Preclinical, which is designed to accelerate the evaluation of drug safety, streamlining the interaction between distributed pharma sites and external collaborators while also accelerating the review of digital pathology specimens.
It is already in use with some of the world’s leading Pharma and CROs.
The company was part of a €2m consortium under the EU Fast Track to Innovation Program involving Janssen Pharmaceuticals and a €5.6m Government of Ireland, Disruptive Technologies Innovation Fund, involving University College Dublin, Royal College of Surgeons Ireland, Mater Hospital, Dublin, Ireland and IBM Research to transform the diagnosis and treatment of colorectal cancer.