With the incidence of cancer continue to rise, there is a growing focus on early detection to save lives. But it’s the experts who help here — pathologists who study and diagnose diseases, including cancer —number has decreasedand Shortages are expected to only get worse. For help filling in the gaps, start Deciphex announced thursday It has raised $11.5 million to support global growth and launch on-demand online pathology service in the U.S.
The Dublin-based pathology software and services provider supports clinicians and researchers through the use of digital pathology and artificial intelligence. Its clients include clinical research organizations, pharmaceutical and biotechnology companies, and healthcare providers.
Founded in 2017, Deciphex is building a cloud-based, AI-enabled pathology platform designed to accelerate global access to pathology services. In addition to launching an online pathology service called Diagnexia in the U.S., Deciphex plans to use the funds raised to enhance its research pathology platform, Patholytix, and fund the company’s growth in the U.K., Canada and the Middle East.
The Series B round was led by ACT Venture Capital, with participation from Charles River Laboratories, Novartis, IRRUS Investments, Nextsteps Capital, HBAN Medtech Syndicate and other current investors. The company has raised the equivalent of more than $19 million (just under €18 million) to date, including about $2.3 million in seed and pre-seed funding and $5.5 million for its Series A round.
Deciphex believes its solutions can save valuable time for researchers, providers and patients undergoing cancer evaluation. It charges healthcare providers a fee for each use of its clinical diagnostic services (while using a SaaS licensing model for software used for research purposes).
“When a patient takes a biopsy, the time it takes to make a diagnosis … can have a significant impact on the patient. This waiting can lead to anxiety and distress,” Donal O’Shea, CEO and co-founder of Deciphex, said in an e-mail said in the email. “The longer the turnaround time, the greater the impact on waiting patients.”
Deciphex is one of many other companies using technology, including artificial intelligence, to assist doctors and pathology researchers who are physically overwhelmed. The goal of these companies is not only to save clinicians time, but also to reduce missed cancer cases.
start up PageFor example, have software that helps detect breast cancer that has spread to the lymph nodes. The software is designed to find tiny collections of cancer cells called micrometastases that might otherwise be missed. Similarly, Path AI Delivering AI-driven technology and machine learning to help doctors make accurate cancer diagnoses, Inc. wild goat AI is also being used to help pathologists make accurate, timely and personalized cancer diagnoses.
O’Shea said that as the volume of testing and the complexity of testing continue to increase, and demand for pathology services continues to increase — and the number of specialists cannot keep up — the use of digital pathology and artificial intelligence will become the solution. key part of the program.
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