Clarapath
Overview
Clarapath is a medical robotics company that specializes in automating laboratory processes in pathology. Founded in 2014 as a spin-off from research at Cold Spring Harbor Labs led by Dr. Partha Mitra, Clarapath was co-founded by Mitra, Mark Fasciano, Ph.D., and Vincent Tang. The company is headquartered in Hawthorne, New York. Clarapath aims to modernize tissue sectioning technology with its innovative product, SectionStar, which automates the conversion of paraffin tissue blocks into glass slides. As of the latest reports, the company has raised $75 million in funding across several rounds to support its development and commercialization efforts.
Recent Developments
- July 2024: Clarapath announced a $36 million Series B-1 funding round led by Northwell Ventures, with participation from other investors such as CU Healthcare Innovation Fund, Mayo Clinic, and Ochsner Ventures. This funding brought the company’s total raised capital to $75 million and will support the commercialization of SectionStar and other R&D initiatives.
- April 2023: The company began a collaboration with Mayo Clinic to enhance its SectionStar platform by integrating robotics, computational AI, and advanced histopathology workflows.
- Early 2024: Clarapath completed the acquisition of Crosscope, a digital pathology company based in Mountain View, CA. This acquisition aims to enhance Clarapath’s portfolio by combining workflow and computational pathology tools, enabling an end-to-end platform for digital pathology.
- 2023-2024: Continued expansion and growth in its Bombay-based engineering team highlighted its commitment to the development of its global operations.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2014 |
| Headquarters | Hawthorne, NY |
| Founders | Dr. Partha Mitra, Mark Fasciano Ph.D., Vincent Tang |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Northwell Ventures, Mayo Clinic, Ochsner Ventures, CU Healthcare Innovation Fund, East Post Road Ventures |
| Industry | Medical Robotics, Pathology |
| Number of Employees | 47 (as of 2024) |
| Major Product | SectionStar |
Early History
Clarapath was founded as a spin-off from Dr. Partha Mitra's research at Cold Spring Harbor Labs focusing on high-throughput neuroanatomy. Initially, it utilized the tape-transfer method for preparing tissue samples, which was traditionally used for frozen tissue sections in clinical pathology. Clarapath sought to innovate by applying this method to paraffin wax tissue processing, leading to the development of its flagship product, SectionStar. This product automates and enhances the tissue sectioning process, promising consistent and high-quality slide outputs crucial for pathological analysis. From its inception, Clarapath has aimed to reduce manual labor in pathology labs, addressing labor shortages and variability in slide preparation.
Company Profile and Achievements
Clarapath operates within the intersection of healthcare and robotics, pioneering solutions to optimize the pathology workflow. Its primary product, SectionStar, is an automated system that diminishes the manual labor involved in tissue sectioning.
- 2014: Founded as an innovative endeavor to streamline pathology processes.
- 2019: Secured Series B funding, facilitating further development of its products.
- 2021: Acquired $32 million in funding to advance the SectionStar product.
- 2023: Acquired Crosscope, enhancing its digital pathology capabilities.
- 2024: Raised $36 million in Series B-1 funding to support its operational and commercial expansion. Clarapath's emphasis on automation not only improves lab throughput but also elevates the quality and reliability of diagnostic outputs, contributing to precision medicine.
Current Operations and Market Position
Currently, Clarapath continues to develop and market innovative solutions to aid pathology labs. It stands out in the industry for its integration of robotics and AI into pathology processes, bringing automation to traditionally laborious tasks. The company's market position is strengthened by strategic partnerships with healthcare institutions like Mayo Clinic. Its SectionStar product is designed to be an all-in-one solution, enhancing efficiency and standardization while minimizing the need for skilled labor, thereby addressing current challenges like labor shortages. Clarapath’s competitive advantage lies in its unique combination of automation technology and digital pathology expertise.
Conclusion
Clarapath has emerged as a key player in the medical robotics and pathology sectors, driven by its mission to transform laboratory operations through innovation and technology. The company’s developments with SectionStar position it to significantly affect the pathology landscape by offering mechanized solutions that promise faster, more reliable laboratory results. With its ongoing enhancements and strategic acquisitions, Clarapath is poised to continue its influence in medical diagnostics, potentially revolutionizing pathology laboratories and contributing broadly to medical research and healthcare efficiency.