Funding to fully automate lab operations, launch new AI-enabled services and establish a GLP histopathology lab in Miami
HistoWiz, a leading digital histopathology service company, has announced the closing of its $32 million Series A financing. The company has provided automated histology for more than 1000 customers in academia and industry and built PathologyMap, an intelligent tissue platform that hosts the world's largest preclinical pathology database.
By focusing on automation and AI, HistoWiz turns tissue specimens into publication quality digital slides online in as little as 48 hours.
PathologyMap provides customers with online slide viewing, tagging, storage, collaboration, diagnosis, analysis and the ability to search for pathology data.
The round was led by Vivo Capital and included other investors venBio, Asahi Kasei and Jon Oringer.
"Our mission is to help researchers find cures by accelerating histopathology and enabling global collaboration," said Dr Ke Cheng, founder and CEO of HistoWiz.
"The Series A financing will allow HistoWiz to expand our services, build a flagship lab with the latest tissue-sectioning and embedding robots, grow our team to better serve clients, and continue to innovate in this field. We are grateful for the support of our investors to further make an impact within the research community."
"We are honoured to partner with HistoWiz. The company has identified a major market need and has built a stellar team and tech-enabled service platform that researchers from leading academic and pharmaceutical institutions rely on. Investing in the team, technology and lab infrastructure will enable HistoWiz to strengthen its market-leading position in the years ahead," said Nathan Dau, Executive Director at Vivo Capital.
"Histopathology capabilities are essential to most innovative biopharma companies. We believe Histowiz provides the highest quality, most efficient and most comprehensive service offering to biotech institutions, including multiple companies within our portfolio," stated Aaron Royston, Managing Partner at venBio.
"We've been impressed by HistoWiz's rapid growth and are excited to help the company broaden its services to help more customers around the world."