Digital pathology firm PictorLabs, which is developing an artificial intelligence (AI)-enabled virtual staining platform, on Thursday announced that it has closed a $15.2 million financing round.
The firm said it will use the funds to expand its biomarker portfolio, develop its products, and expand its talent base and corporate infrastructure.
It has raised $18.8 million since its founding in 2019.
“PictorLabs’ platform overcomes inherent issues in histopathology through the application of AI-powered algorithms that produce virtual stains which are indistinguishable from their chemistry-based counterparts,” Dr. Yair Rivenson, CEO and chief technology officer of PictorLabs, said in a statement. “By virtually staining tissue images in the digital realm, our approach simplifies and accelerates workflows, speeding up drug discovery and diagnostic decision-making with the goal of ultimately improving patient outcomes.”
The financing round was led by M Ventures, SCC Soft Computer, and Koc Holding.