A healthcare artificial intelligence company that spun out of New York City-based Mount Sinai Health System has raised $20.7 million in a series B funding round.
PreciseDx said it plans to use the investment to advance its AI for breast cancer diagnostics and risk assessment. The startup, which has brought in $31.5 million to date, has also started collaborating with Los Angeles-based UCLA Health, Coral Gables, Fla.-based Baptist Health, and Dallas-based Baylor Scott & White Health.
"Our team continues to advance breast cancer diagnostics by delivering faster, more accurate data, in a cost-efficient method," said Eric Converse, founding board member of PreciseDx, in an Aug. 21 statement. "This allows clinical care teams to make better informed clinical decisions resulting in improved patient outcomes."
The funding round was led by biotech investor Eventide Asset Management and also included laboratory giants Labcorp and Quest Diagnostics.