Deciphex - Innovation in Digital Pathology
by Startacus Admin
The lowdown on Deciphex, the Dublin-based startup that's created an AI-driven solution to help accelerate the delivery of pathology services.
A pathologist is a vitally important healthcare provider who specialises in diagnoses, as well as prevention and treatment of diseases. Pathology is a part of 95% of clinical care pathways. Currently, there is a global shortage of pathologists, with recruitment numbers failing to rise, and test volume and complexity ever increasing. This creates a bottleneck in the healthcare system, worsening already too-long wait times for patients, which can have obvious negative effects on their health. We need a way to ease the strain on pathologists and help them to get through their backlog.
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Dublin-based medtech startup Deciphex is striving to provide this support and relief by using artificial intelligence. The idea is that pathologists' processes will be accelerated by networking pathologists and using AI to drive efficient, high-quality reporting, and their workload will be better balanced through digital pathology. With the startup’s tools, pathology wait times can be reduced from months to days, weeks to hours.
Their diagnostics-as-a-service platform Diagnexia was launched just last year in the US, and connects laboratories to an international network of subspeciality pathologists, who can provide their expertise on clinical cases, which can significantly reduce turnaround time while delivering top quality, accurate diagnoses. Meanwhile, their industry-leading digital pathology workflow and integrated AI platform for research pathology, Patholytix, allows research pathologists to review and score non-clinical studies on a single platform, resulting in faster pathology reviews, with a lower risk of error.
In May 2022, Deciphex raised €11.5 million in funding in a Series B round. Recently, an extension funding round has seen them raise an additional €3.9 million. The extension was led by European life sciences venture capital firm Seroba Life Sciences, and included existing investors. This funding will be used to meet its increasing demand by expanding further in the UK, US, Canada, and the Middle East.
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Published on: 27th February 2023
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