PathAI Announces $165M Financing for Advancing Medicine with AI-powered Pathology
PathAI, a global provider of artificial intelligence-powered technology for pathology, announced today the closing of its $165 million Series C financing. PathAI will deploy its new capital to accelerate product development while continuing to prioritize the improvement of patient outcomes with reliable AI-powered technology and meaningful collaboration with pharmaceutical and diagnostic partners.
The funds will expand the PathAI product suite and commercial footprint to enhance the full lifecycle of the drug development process from translational and exploratory research to global commercialization. PathAI will further develop a broad menu of AI-based pathology offerings for biopharma into disease indications beyond oncology and NASH while also developing a scalable workflow platform for CROs and reference lab partners.
This Series C financing round was co-led by D1 Capital Partners and by Kaiser Permanente, one of America's leading health care providers and not-for-profit health plans. Other investors included General Atlantic, Tiger Global Management, 8VC, Adage, Biospring Partners, General Catalyst, KdT Ventures, Polaris Partners, Refactor Capital and strategic partners Bristol-Myers Squibb Company, Labcorp and Merck Global Health Innovation Fund (GHI).
"We are thrilled to be partnering with D1 Capital Partners and Kaiser Permanente to drive continued progress on our mission to improve patient outcomes with AI-powered pathology," said Andy Beck, MD, PhD, PathAI co-founder and Chief Executive Officer.
PathAI co-founder and Chief Technology Officer, Aditya Khosla, PhD, noted, "These new funds will enable new platform and product investments as we continue to scale our integrated technology platform for building solutions to support drug development and diagnostics."
Daniel Sundheim, founder of D1 Capital Partners, noted, "We have been following PathAI's journey and have been impressed by their growth and the impact they have made in the industry. We are excited to support their mission as they continue to expand their research in diagnostic development and AI- powered pathology."