Paige, a global leader in AI-based diagnostic software in pathology, received funding from KKR.
KKR joined Casdin Capital and Johnson & Johnson Innovation – JJDC, Inc. (JJDC) as co-leads in its Series C financing round, bringing the round to over $125m. Additional investors in the Series C round include Catalio Capital Management, existing investors and other funds, as previously announced. For KKR, the investment is being funded through the firm’s Health Care Strategic Growth Fund, which is focused on investing in high-growth health care-related companies for which KKR can be a unique partner in helping reach scale.
The company will use this new capital to expand its geographic footprint as it accelerates the development of AI-based clinical applications, biomarkers and diagnostics.
Founded in 2017 by Thomas Fuchs, Dr.Sc. and colleagues from Memorial Sloan Kettering Cancer Center (MSK), and led by Leo Grady, Ph.D., Chief Executive Officer, Paige builds computational pathology products designed so patients and their care teams can make effective, more informed treatment decisions. With this new class of AI-based technologies positioned to drive the future of diagnostics, the company created a platform to deliver this novel technology to pathologists to transform their workflow and increase diagnostic confidence and productivity. The products deliver insights to pathologists and oncologists so they can arrive efficiently at more precise diagnoses for patients. Paige received FDA breakthrough designation for computational pathology products.