PathAI demonstrates the potential of AI-based Characterization of the Tumor Microenvironment at ASCO

Boston, Massachusetts<\/strong>\u00a0\u2013 PathAI, a global leader in artificial intelligence-powered technology for advancing pathology research, announced today that it has secured strategic investments from the Merck Global Health Innovation Fund (Merck GHIF) and Bristol-Myers Squibb. These investments complete PathAI\u2019s Series B investment round. PathAI will use the funding to bolster and accelerate its growing clinical development capabilities. The investment serves to deepen PathAI\u2019s relationship with these two leaders in the development of cancer therapies.<\/p>\r\n

\u201cWe have been fortunate to have the opportunity to work with both of these great companies, and we\u2019re excited about the confidence they\u2019ve shown in PathAI,\u201d said PathAI co-founder and Chief Executive Officer Andy Beck M.D., Ph.D. \u201cMerck, BMS and other strategic partners understand that having the best possible insight into the data is incredibly important for driving continued advancements in the rapidly moving field of immuno-oncology, ultimately helping to bring new and better treatments to patients faster.\u201d<\/p>\r\n

\u201cWe are pleased to join the latest PathAI investment round,\u201d added David M. Rubin, Ph.D., Managing Director of Merck GHIF. \u201cTheir industry-leading work incorporating artificial intelligence into digital pathology, holds the potential to change the way we diagnose and treat cancer.\u201d<\/p>\r\n

\u201cArtificial intelligence is an increasingly important tool in healthcare research and development, and we\u2019ve seen the quality of PathAI\u2019s work first-hand,\u201d said Saurabh Saha, M.D., Ph.D., Global Head of Translational Medicine at Bristol-Myers Squibb. \u201cWe are excited to take this next step in our partnership with PathAI and to work together to deliver continued scientific and therapeutic advancements for patients.\u201d<\/p>\r\n

The investment follows and extends PathAI\u2019s Series B investment, announced in April, which was led by venture capital firms General Atlantic and General Catalyst, with strategic participation from LabCorp, a leading global life sciences company that provides comprehensive clinical laboratory and end-to-end drug development service, announced in July. This latest addition brings total investment in PathAI to over $90MM since its founding in 2016.<\/p>\r\n\r\n

About PathAI<\/h3>\r\n

PathAI is a leading provider of AI-powered research tools and services for pathology. PathAI\u2019s platform promises substantial improvements to the accuracy of diagnosis and the efficacy of treatment of diseases like cancer, leveraging modern approaches in machine and deep learning. Based in Boston, PathAI works with leading life sciences companies and researchers to advance precision medicine. To learn more, visit pathai.com.<\/p>","rich_text_module_0_button":"","rich_text_module":1,"jump_link_label":""},"mode":"edit"}