What You Should Know:
– Proscia, a Philadelphia-based provider of digital and computational pathology solutions raises $37M to advance the way we understand and treat diseases like cancer. The round includes participation from Highline Capital Management, Triangle Peak Partners, and Alpha Intelligence Capital as well as existing investors including Scale Venture Partners, Hitachi Ventures, ROBO Global, Emerald Development Managers, and Razor’s Edge Ventures. This investment brings Proscia’s total funding to $72M.
– The financing will enable Proscia to accelerate the adoption of computational pathology, strengthening its market and product leadership. It will use the infusion of capital to scale its commercial operations. This includes expanding its sales, marketing, and support teams as well as growing distribution partnerships following its recent OEM agreement with Siemens Healthineers. Proscia will also increasingly focus on its regulatory strategy on the heels of its CE IVDR certification.
Meeting the Growing Demand for Digital Pathology
Founded in 2014 by a team of clinicians at Johns Hopkins and the University of Pittsburgh, Proscia is a software company that is changing the way the world practices pathology to transform cancer research and diagnosis. With its Concentriq® software platform, Proscia is accelerating the transformation to digital pathology, which centers around high-resolution images of tissue biopsies, as the new standard of care.
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Demand for digital pathology, which shifts the standard of cancer research and diagnosis from microscope to digital image, is rising to tap into the full potential of pathology data. Proscia has established itself as the sole player driving this complete modernization across both life sciences organizations and diagnostic laboratories. Its Concentriq® platform combines enterprise scalability with a broad portfolio of AI applications to accelerate breakthroughs and unlock clinical insights that advance precision medicine.
Recent Traction & Expansion Plans
Proscia’s user base includes 10 of the top 20 pharmaceutical companies as well as the Joint Pathology Center, which selected Concentriq to digitize the world’s largest human tissue repository of over 55 million slides. Leading reference laboratories and health systems, including LabPON, the first laboratory to reach 100% digital diagnosis, also rely on Concentriq.
To continue offering the widest variety of AI applications on a single pathology platform, Proscia will invest in broadening its own portfolio of computational solutions and introduce a growing number of third-party applications onto Concentriq. It will build on the success of its DermAI® and AI breakthrough in melanoma detection as well as extend digital pathology’s first suite of process automation solutions beyond Automated QC.
Source: Hitconsultant
