Goldman Sachs lifts Paige’s series B to $50m

Paige, a US-based cancer pathology software provider based on Memorial Sloan Kettering Cancer Center research, increased its series B round to $50m today following a $5m extension supplied by investment bank Goldman Sachs’s merchant banking division.
Paige did not reveal the size of the extension in its release, but a spokesperson confirmed the amount to GUV.
The company raised an initial $45m in December 2019 from a consortium led by Healthcare Venture Partners that included Brey Capital, private investor Kenan Turnacioglu and undisclosed funds.
Founded in 2018, Paige develops modular software tools that exploit artificial intelligence and existing genomic data to help pathologists identify cancer symptoms from digitised patient scans.
The spinout hopes to ease the workflow of pathologists, leveraging AI to reduce costs, support decision-making and address cases where a rare subtype of cancer may be present.
Goldman Sachs’s contribution is expected to refine its product with a view to serving remote and routine clinical settings in addition to pathology.
The company has been working to secure US regulatory approval, having attained European clearance for software targeting prostate cancer diagnoses in 2019.
David Castelblanco, managing director at Goldman Sachs Private Equity, has joined the board of directors following the series B extension.
Paige had already raised $25m of series A capital in 2018 co-led by Jim Breyer on behalf of Breyer Capital and Julian Robertson, founder of investment firm Tiger Management.
The company’s founding team includes Thomas Fuchs, head of Memorial Sloan’s research into computational pathology.