April 23, 2020 08:00 AM Eastern Daylight Time, New York
Paige, the leader in computational pathology which is transforming the diagnosis and treatment of cancer, today announced it has received additional funding from Goldman Sachs Merchant Banking Division, which will be added to the recently announced Series B financing round. Paige will use this new capital to further develop the company’s diagnostic and test products for the biopharma industry, while strengthening its leadership position in clinical AI for pathologists and development of the Paige platform for remote viewing and routine clinical practice. Additionally, Paige has added David Castelblanco, Managing Director at Goldman Sachs, to its Board of Directors. David brings with him a wealth of experience as an investor and board member working with leading cancer treatment centers internationally.
“Paige is transforming pathology and translational research in the cancer field and is working closely with biopharma companies to create custom diagnostic solutions and drug development technologies to improve patient care”
“We’re thrilled to be working with David Castelblanco and the team at Goldman Sachs as we build our platform and further develop our computational pathology infrastructure,” said Leo Grady, CEO at Paige. “With our new funding and leadership additions, we'll focus on building network effects based on our clinical-grade digital pathology and AI platform.”
“Paige is transforming pathology and translational research in the cancer field and is working closely with biopharma companies to create custom diagnostic solutions and drug development technologies to improve patient care,” said David Castelblanco. “We look forward to supporting the Company’s important mission of improving cancer care through its AI technology.”
Paige is continuing its mission to accelerate the future of pathology by translating cutting-edge cancer research into solutions that help physicians and patients arrive at an accurate diagnosis faster and more cost effectively.
“Paige's leadership is doing a fantastic job in building a stellar team and seizing opportunities in this exciting market," said Jim Breyer, founder and CEO of Breyer Capital, who invested in both series A and B for the company.
Recent company milestones for Paige include the appointment of R. Martin Chavez, a former Goldman Sachs executive to the board, and a partnership with Invicro LLC, a Konica Minolta company, to provide integrated pathology solutions to support pharmaceutical and biotechnology sponsors with their drug discovery and development initiatives.
ABOUT GOLDMAN SACHS MERCHANT BANKING
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, growth equity, infrastructure, private debt and real estate.
Paige was founded in 2017 by Dr. Thomas Fuchs and colleagues from Memorial Sloan Kettering Cancer Center. The Company builds powerful, clinical-grade computational technologies to transform diagnosis, treatment, biomarker discovery and drug development for cancer. With AI positioned to open a new future of cancer care, Paige has created an AI-native ecosystem that enables pathology teams to achieve higher quality, faster throughput and lower cost diagnoses and treatment recommendations. Additionally, Paige accelerates new biomarker discovery and its platform is designed to generate new insights into pathways and drug efficacy. Paige is committed to delivering the technology in a way that integrates seamlessly with hospital and laboratory workflow systems and ensures safety, accuracy, security and data privacy.