US-based start-up Paige.AI has raised $25m during a series A financing round led by various investors such as venture capital firm Breyer Capital.

Paige.AI focuses on using artificial intelligence (AI) for the clinical diagnosis and treatment of cancer, and intends to utilise the new funding to support its efforts in digital and computational pathology.

The firm has also signed a comprehensive licence agreement with Memorial Sloan Kettering Cancer Center (MSK) gaining exclusive access to the centre’s intellectual property related to computational pathology, along with rights to the library of 25 million pathology slides.

This de-identified data set is expected to aid Paige.AI in developing a suite of AI applications in pathology and digitalising numerous other archived slides over the coming years.

“The field is ripe for innovation and we are confident that Paige.AI will aid pathologists in detecting disease better and faster.”

Through the new solutions, Paige.AI expects to minimise time-consuming manual tasks, while delivering operational and clinical value immediately.

Paige.AI co-founder David Klimstra said: “Patients deserve and need an accurate diagnosis as quickly as possible, yet our current methods are time-consuming, expensive and subjective.

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“The field is ripe for innovation and we are confident that Paige.AI will aid pathologists in detecting disease better and faster.

“With computational pathology, pathologists can redirect their efforts toward more sophisticated tasks, such as integrating histologic findings with other diagnostic analyses.”

The firm aims to create computational solutions across diagnostic pathology with a focus on clinical applications for major cancers such as breast and prostate.

It also plans to collaborate with additional academic medical centres, commercial labs and pharmaceutical companies.