Irish pathology software and services developer Deciphex has raised $11.5m in funding.
The Series B round money was provided by ACT Venture Capital, along with Charles River Laboratories, Novartis, IRRUS Investments, Nextsteps Capital, HBAN Medtech Syndicate and other current investors.
Founded in 2017, Deciphex uses digital pathology and AI to accelerate pathology diagnostics, improving productivity.
Its Patholytix digital pathology platform is also used in research by the majority of the world’s largest pharmaceutical companies and contract research organizations.
“This funding is an important milestone for the company in its ambition to use digital pathology and AI to network and accelerate the world’s clinical and non-clinical pathologists,” said Donal O’Shea, Chief Executive Officer of Deciphex.
“The continued support of our long-term investors along with the addition of new strategic partners reaffirms the value we bring to the pathology community and the ambition of our future growth plans.”
In March last year, the company reached an agreement with research organization, Charles River Laboratories, International Inc., to use its tools to speed up drug safety assessment.
Late last year, the company launched a new clinical diagnostic service called Dagnexia, which provides global, on-demand access to remote, superspecialized clinical pathologists for diagnostic and consulting services.
“Deciphex has built a platform to support and enhance the ability of pathologists to deliver their skills at scale,” said John O’Sullivan, General Partner of Act Venture Capital.
“Donal and the team created the product with major pathology groups and adoption over the past 2 years has confirmed the ability and desirability to retool the pathology workbench.”