PreciseDx is an innovative oncology diagnostics company utilizing artificial intelligence (AI) to facilitate precise disease analysis and cancer risk assessments. Founded with a vision of optimizing cancer diagnostics, it is headquartered in New York City, New York. With AI-driven solutions, PreciseDx has successfully raised over $31.5 million, including a notable Series B round led by Eventide Asset Management and several healthcare industry leaders. The company's proprietary Morphology Feature Array® technology functions as the foundation for its groundbreaking diagnostic tools, which assist in improving treatment decisions and outcomes.
August 2024: PreciseDx raised $20.7 million in Series B funding to expand its AI-powered cancer diagnostics. The funds are directed towards scaling operations, enhancing product development, and fostering strategic partnerships. Regulatory milestones include obtaining CLIA Standard approval and CLEP NYSDOH review for its PreciseBreast™ assessment, solidifying its compliance with rigorous healthcare standards.
May 2024: At the American Society of Clinical Oncology Annual Meeting, PreciseDx showcased their PreciseBreast™ test, which leverages AI to predict recurrence risks in early-stage breast cancer.
April 2024: PreciseDx embarked on a research collaboration with UCLA to improve risk stratification in triple-negative breast cancer (TNBC). The aim is to refine risk assessment methodologies using their PreciseBreast tool.
November 2023: The company received New York State Department of Health approval for its advanced PreciseBreast diagnostic test, paving the way for broader market availability.
January 2023: Published clinical validation in "Breast Cancer Research" highlighting the effectiveness of their AI-enabled platform in elevating breast cancer diagnostics.
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | New York City, New York, USA |
| Founders | Dr. Jack Zeineh and Eric Diehl |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Eventide Asset Management, Merck GHI |
| Industry | Oncology Diagnostics |
| Number of Employees | Approximately 1,200 |
PreciseDx was founded in 2021, born from the innovations at Mount Sinai's technology department. The startup emerged during a time when precision medicine was gaining momentum, fueled by the advances in AI and machine learning. With its roots in academic research, the company's early days focused on transforming pathology through its Morphology Feature Array technology. This was a novel approach that allowed for in-depth analysis of biopsy data, coupling AI with morphological features of disease samples to refine cancer diagnostics. Early financial support was garnered through a successful $10.75 million Series A funding round, enabling the company to commercialize its initial risk stratification tools.
PreciseDx operates at the forefront of AI-driven oncology diagnostics, primarily leveraging its Morphology Feature Array® to deliver disease-specific insights. The company's business model centers around developing assays that provide critical, patient-specific information to oncologists, enabling better treatment planning and management.
Overall, PreciseDx is distinguished by its commitment to improving cancer diagnosis output through technology that not only matches but exceeds traditional diagnostic accuracy.
Today, PreciseDx is renowned for its innovative contributions to the health tech industry. Its operations are anchored in AI-centric platforms that enrich pathology insights, notably within oncology. The company's market position is bolstered by collaborations with institutions like UCLA and strong investor backing.
PreciseDx offers a distinctive competitive advantage through its proprietary technology that provides unparalleled insights, enabling more precise treatment decisions. Their approach reduces subjectivity in diagnostics, offering consistent and objective risk assessments.
As of late 2024, PreciseDx stands as a pivotal technology player in oncology diagnostics. Its continual advancements in AI applications promise a transformative impact on how cancer risks are assessed and managed. With its robust funding base and strategic collaborations, the company is poised to further influence the landscape of personalized medicine, aspiring to extend its innovative reach to broader types of cancer beyond its initial focus.