What You Should Know:
– Proscia, a software company focused on digitizing and applying AI to pathology, has announced a $50M funding round, bringing its total capital raised to $130M.
– The funding, led by Insight Partners, AI Capital Partners, and Triangle Peak Partners, will be used to further expand the adoption of Proscia’s platform, integrate more AI capabilities, and leverage strategic OEM partnerships with industry giants like Agilent Technologies and Siemens Healthineers.
– The investment comes on the heels of a year of record growth for the company, which now counts 16 of the top 20 pharmaceutical companies as users and anticipates over 22,000 patient diagnoses daily through its Concentriq platform.
AI-Driven Pathology Solution
Concentriq, Proscia’s flagship platform, is positioned as the only AI-driven pathology solution that supports the entire precision medicine value chain. It facilitates drug discovery, accelerates diagnostics, and connects life sciences organizations and laboratories to match patients with targeted treatments. The platform’s AI capabilities, including Concentriq Embeddings, which utilizes foundation models to accelerate AI development by 13x, empower researchers and data scientists to develop and deploy algorithms for biomarker discovery, clinical trials, and companion diagnostics.
The company’s precision medicine AI portfolio offers a comprehensive suite of applications designed to enhance diagnostic accuracy and efficiency. Proscia’s solutions are already trusted by a global network of diagnostic laboratories and pharmaceutical companies, with FDA 510(k) clearance and CE-IVDR certification for its diagnostic software.
“We are living through an extraordinary moment in medicine,” said David West, Proscia’s CEO. “Demand for advanced diagnostics is surging, digital pathology is gaining global traction, and AI is moving faster than the boldest predictions made just a few years ago. Patients are waiting to realize the future of precision medicine. With this investment, we will ensure that more pathologists and scientists can deliver it.”
