What You Should Know:
– Deciphex, a leader in AI-powered digital pathology, has closed its Series C financing, raising $32.3 million to address the acute global pathology crisis. Led by Molten Ventures with significant participation from ACT Venture Capital, Seroba, Charles River Laboratories (NYSE: CRL), IRRUS Investments, HBAN Medtech Syndicate and Nextsteps Capital, the funding will advance Deciphex’s mission to democratize access to high-quality pathology through a technology-enabled global network of pathologists.
– With over 70% of healthcare decisions requiring pathology investigation and a widening gap between rising patient needs and declining pathologist numbers, healthcare systems face mounting backlogs globally. Deciphex’s platforms, Diagnexiaand Patholytix, address this crisis through AI-powered digital pathology that enables pathologists to work up to 40% faster while maintaining diagnostic accuracy. By expanding access to quality pathology services and reducing diagnostic delays, Deciphex is transforming patient care delivery worldwide.
Deciphex: Transforming Global Pathology Through AI-Driven Innovation
Founded in 2017, Deciphex leverages AI-powered digital pathology to revolutionize diagnostic workflows and improve patient outcomes globally. With its flagship platforms—Diagnexia and Patholytix—the company addresses distinct markets:
- Diagnexia: A global digital pathology network connecting subspecialty pathologists to streamline diagnostics and reduce backlogs.
- Patholytix: An AI-driven preclinical platform that accelerates drug development by optimizing preclinical safety assessments.
By automating routine tasks, Deciphex enables pathologists to prioritize complex cases, delivering faster and more reliable diagnoses while advancing healthcare and therapeutic development.
Strategic Priorities Enabled by Recent Funding
This funding round significantly accelerates Deciphex’s mission and strategic goals:
- Scaling Global Service Reach:
- Expanding operations across the U.S., U.K., E.U., Canada, and Japan to meet the rising demand for digital pathology solutions.
- Enhancing access to expert diagnostics and research services to address critical healthcare and pharmaceutical challenges worldwide.
- Enhancing Core Platforms:
- Advancing Diagnexia to further expand global subspecialty expertise and reduce diagnostic backlogs.
- Optimizing Patholytix to drive drug development with AI-powered workflows that improve efficiency and innovation.
- Developing Pathology Foundational Models:
- Utilizing an extensive pathology image repository to create foundational AI models, boosting speed and accuracy in clinical and non-clinical applications.
- Strengthening Industry Partnerships:
- Deepening collaborations with Novartis and Charles River Laboratories to enhance AI models for toxicology and preclinical safety evaluation.
- Expanding Pharma and Biotech Services:
- Enhancing clinical research capabilities to support efficient trials, biomarker discovery, validation, and innovative insights from clinical archives.
Donal O’Shea, Founder and CEO of Deciphex, highlighted the significance of the investment:
“This funding accelerates our mission to transform global pathology access. Our ergonomic, AI-enabled platform enhances diagnostic workflows and accuracy, enabling experts to clear backlogs efficiently without compromising quality. By expanding this technology worldwide, we’re not only advancing healthcare efficiency but also supporting the pathologists who drive diagnoses and the patients who rely on them.”
Through its innovative platforms, strategic partnerships, and global expansion, Deciphex continues to redefine pathology services, advancing healthcare delivery and therapeutic innovation worldwide.
