Pathology is heading for a crisis due to increasing volumes, increasing complexity and declining numbers of pathologists. Clinical pathologists are limited assets worldwide and their numbers are expected to decline significantly over the next ten years. The recent leap in the use of clinical and non-clinical digital pathology fights the manual and subjective aspects of the previous standard of care, while giving pathologists and laboratories the tools they need to keep up with the growing burden of cancer.
To combat the situation, the Irish pathology software and services company Deciphex raised $ 11.5 million in funding. The Serie B round was led by ACT venture capitals Charles River Laboratories, Novartis, IRRUS investments, Nextsteps Capital, HBAN Medtech Syndicate and other current investors are also involved.
The company plans to consolidate its position in strengthening clinical and non-clinical pathology. This will further strengthen Patholytix’s research platform and launch the Diagnexia clinical service in the United States, along with expansion in the United Kingdom, Canada and the Middle East.
Founded in 2017, the startup uses digital pathology and AI to accelerate the diagnosis of pathology, improve productivity and outcome for patients.
Donal O’Shea, Deciphex’s CEO said: “We strive to use digital pathology and AI to build a network and accelerate the world’s clinical and non-clinical pathologists.
John O’Sullivan, general partner of Act Venture Capital, added: “The experience of pathologists is a crucial contribution to healthcare, from product development to clinical delivery. Deciphex has built a platform to support and improve the ability of pathologists to deliver their skills on a scale.
Last year, the company launched the Diagnexia clinical diagnostic service. The online Department of Clinical Pathology provides global on-demand access to remote subspecialty clinical pathologists for primary diagnosis and secondary counseling services, helping to achieve faster time to review cases and provide the highest quality patient care.