Venture Capital News: Proscia Lands $1M
BALTIMORE, MD, Proscia, a data solutions provider for digital pathology, announced today the completion of its $1M seed round of financing.
Proscia, whose Pathology Cloud platform is already helping hundreds of pathologists and researchers, will use the proceeds to accelerate growth and pursue the company's vision of unlocking insights and accelerating discovery towards understanding and treating cancer. The financing was led by Emerald Development Managers, with participation from Robin Hood Ventures, TCP Venture Capital and A-Level Capital.
'Our team is extremely impressed with the Proscia team, their vision and ability to execute,' said Neil Cohen of Emerald Development Managers, 'They have a compelling pipeline of pathology solutions which will undoubtedly advance cancer diagnosis and treatment.'
The Baltimore based company was founded in 2014 by technologists out of Johns Hopkins University and other academic institutions. Proscia's software, which brings together machine learning, computer vision and cloud computing, recognizes histological patterns in whole slide images and quantifies tissue in ways not possible with the microscope and naked eye. 'Quantitative techniques are allowing digital images to augment the field of pathology in novel ways' said Dr. Liron Pantanowitz, Director of Pathology Informatics at the University of Pittsburgh Medical Center, 'Ultimately, with these capabilities, digital pathology will permit more precise diagnoses.' UPMC and Proscia expect to announce soon a co-development partnership to bring new state-of-the-art quantitative tools to digital pathology.
'Precision medicine in the fight against cancer saves lives and long term healthcare costs,' said David West, Jr., President and CEO of Proscia, 'Like digital imaging did for radiology, our software will usher in a new era of computer assisted pathology accelerating the fight against life threatening diseases. We are excited and grateful for the support of our investors to help us deliver on our vision.'
Founded in 2014 by technologists from Johns Hopkins, Proscia is a data solutions provider for digital pathology. The company's vision is to bring computer intelligence to pathology -- to illuminate the world's pathology information, unlocking insights for faster, more precise medicine. Proscia develops solutions that help customers harness their digital pathology data, recognizing patterns in pixels, turning conjectures into conclusions, and creating new avenues of collaboration. With its partners and customers, Proscia is driving discovery that accelerates the search for the cure.
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