Proscia, a leading digital pathology software provider, has secured $9 million in additional funding as part of its Series C round, bringing the total raised to $46 million. This funding follows Proscia's recent FDA clearance for its software platform, enabling the company to expand its presence in the U.S. diagnostic market.
Highline Capital Management and Triangle Peak Partners led the Series C extension, with participation from existing investors like Alpha Intelligence Capital, Scale Venture Partners, and Hitachi Ventures. The funds will fuel Proscia's commercial expansion and the advancement of its AI-driven applications for life sciences and diagnostic laboratories.
David West, Proscia's co-founder and CEO, expressed excitement about the regulatory clearance, highlighting its significance in facilitating the sale of diagnostic products in the U.S. market when they are critically needed. He emphasised that the funding would accelerate Proscia's mission of revolutionising disease diagnosis and treatment, leveraging digital pathology data and AI.
Proscia's software platform is already trusted by 14 of the top 20 pharmaceutical companies, utilising vast amounts of pathology image data to drive drug discovery and development. With the FDA clearance, Proscia aims to extend its digital pathology solutions to diagnostic labs, addressing challenges such as the global shortage of pathologists and the increasing incidence of cancer.
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