Deciphex Secures $32.3M in Series C Funding to Address Global Pathology Shortages with AI Solutions
Deciphex (Dublin, Ireland), a leading digital pathology company, has announced the successful close of $32.3 million in a Series C funding round to combat the global pathology shortage. The funding, led by Molten Ventures and supported by Seroba, and ACT Venture Capital, among others, will accelerate the development of AI-powered tools designed to reduce diagnostic delays and address the global pathology workforce crisis.
Deciphex specializes in digital pathology solutions that integrate AI to enhance diagnostic accuracy and efficiency. Their flagship platforms, Diagnexia and Patholytix are at the heart of this mission.
Advancing Diagnostics with Diagnexia
Diagnexia connects healthcare providers with a global network of expert subspecialty pathologists for timely and precise diagnostic services, helping alleviate pressure on overburdened healthcare systems.
Last year, Deciphex partnered with NHS Trusts in regions such as Bedford, East Sussex, Worcester, and Exeter to integrate Diagnexia into pathology workflows. According to the company, this collaboration has helped reduce diagnostic wait times from two months to two days, improving efficiency and addressing backlogs in patient care.
Accelerating Drug Development with Patholytix
Patholytix helps pharmaceutical and biotech companies speed up preclinical research using AI-powered image analysis. It is used by several large pharmaceutical companies to test hundreds of drug compounds at once.
The platform offers digital workflows that meet regulatory standards and improve efficiency. By automating study management and data analysis, Patholytix reduces delays in testing, helping accelerate drug development and regulatory approvals.
Transforming Global Pathology Access
Both platforms aim to enhance efficiency without compromising diagnostic accuracy, helping pathologists work up to 40% faster.
The pathology field is under unprecedented pressure, with more than 70% of healthcare decisions relying on pathology investigations and a declining global workforce of pathologists. Deciphex’s AI-driven solutions aim to address this gap by automating routine tasks, allowing pathologists to focus on complex cases.
“This investment accelerates our mission to transform global pathology access. Our ergonomic, AI-enabled platform enhances diagnostic workflow and accuracy – allowing experts to clear backlogs faster without compromising quality. By expanding this technology worldwide, we’re not just improving healthcare efficiency, we’re supporting both the pathologists who drive diagnoses and the patients who depend on them,”
Donal O’Shea, CEO and Founder of Deciphex.
This latest investment will enable Deciphex to accelerate several key initiatives. The company plans to expand its operations in the U.S., UK, EU, Canada, and Japan to meet the increasing demand for digital pathology services.
In addition, Deciphex aims to develop advanced AI models by leveraging its large repository of pathology images, enhancing both speed and accuracy for clinical and research applications.
The company will also strengthen its existing partnerships with industry leaders like Novartis and Charles River Laboratories, continuing to focus on toxicology and preclinical safety evaluation, critical areas in drug development.
“Deciphex is tackling one of healthcare’s most pressing issues. By supporting pathologists with AI tools that enhance efficiency without sacrificing accuracy, Deciphex offers a much-needed solution to the diagnostic burden facing pathologists around the world. We’re thrilled to support Deciphex in bringing these critical diagnostic services to those who need it most,”
Inga Deakin, Principal at Molten Ventures, Lead Investor.