PreciseDx, a pioneering medical technology leveraging the power of artificial intelligence (AI) to improve diagnostics in oncology, has secured $20.7 million in a series B funding round to accelerate growth and expansion.
Co-founded in 2020 by Jack Zeineh MD, and Gerardo Fernandez MD, the company’s latest financing round was spearheaded by Eventide Asset Management, supported by contributions from Quest Diagnostics, GenHenn Capital Venture, Labcorp, and existing investors. The new capital brings PreciseDx’s total funding to $31.5 million since its launch.
The funding will support the company’s product development, talent acquisition, and strategic partnerships to expand its global customer base and reach.
Novel Approach to Diagnostics in Oncology
PreciseDx’s AI-driven platform employs a unique approach to oncology diagnostics, leveraging entailsmorphology-driven disease analysis. It includes the analysis of tissue samples to provide critical insights into cancer diagnosis as well as prognosis.
According to Eric Converse, Founding Board Member of PreciseDx, the platform delivers advanced breast cancer diagnostics faster, leveraging accurate data cost-efficiently. This enables clinical care teams to make well-informed clinical decisions that improve patient outcomes.
He added that the funding will support the company’s next phase of intensive clinical trials to validate the effectiveness of PreciseBreast™ following successful validation studies after completing clinical and analytical evaluation.
