Techcyte, a Orem UT-based based digital clinical pathology platform, raised $21M in funding.
The round was led by Zoetis with participation from ARUP Laboratories and investors from previous rounds.
The company intends to use the funds to grow its veterinary business and accelerate commercialization in the human market, completing multiple FDA 510ks and expanding the development team to further work with valued partners such as ARUP Laboratories.
Led by CEO Ben Cahoon and President Rick Smith, Techcyte provides a clinical pathology platform which uses AI-based workflows and integration with whole slide scanners and lab information systems to increase the accuracy and efficiency of clinics and labs. It is used for human, veterinary and environmental diagnostic testing.
The clinical pathology platform is HIPAA compliant and received the CE mark in 2020. An FDA clinical validation study is close to completion and will be submitted to the FDA by the end of the year.
The company also has an office in Luxembourg.