Inova Personalized Health Accelerator has invested in Deciphex, a company developing digital pathology applications for clinical and toxicologic pathology. These applications triage high volume, low complexity samples, allowing pathologists to focus on the more difficult, critical content of pathology images.
The Inova Personalized Health Accelerator (IPHA), a program that fosters med-tech innovation in technologies that are strategically important to the Inova Health System, recognizes that the pathology industry is beset with increasing caseload and diagnostic complexity, against a globally declining number of pathologists to service the workload. IPHA believes Deciphex’s software solution, which combines digital pathology with artificial intelligence, will provide Inova physicians with a tool to increase productivity and allow them to focus on more complex cases.
“Deciphex has a strong management team with an innovative solution. IPHA intends to leverage Inova’s expertise in pathology to further propel Deciphex into a global leadership position in the AI digital pathology market,” IPHA Director Mike Thomas stated.
“At Inova, we’re excited to be at the forefront of deploying artificial intelligence to transform diagnosis and treatment of diseases,” said Hassan Nayer, MD and Chairman of Pathology and Laboratory Medicine at Inova. “Our partnership with Deciphex will enable us to accelerate adoption of digital pathology in clinical practice to improve accuracy, efficiency and availability of pathological diagnosis.”
The company has recently launched its first product for preclinical/toxicologic pathology, Patholytix Preclinical, which is already in use with some of the world’s leading Pharma and CROs. Patholytix Preclinicial is designed to accelerate the evaluation of drug safety, streamlining the interaction between distributed pharma sites and external collaborators while also accelerating the review of digital pathology specimens.
“It’s a real pleasure to work with Inova Personalized Health Accelerator in fulfilling our vision to transform pathology,“says Donal O’Shea, Ph.D and CEO of Deciphex. “The team has such strong domain experience in healthcare and AI, which provides a strong value add to the available capital. The investment will have a huge impact on our ability to accelerate our commercialization program and to bring the best possible products to our customers and collaborators.”