Medical technology company Pathware named former Veran Medical Technologies executive TJ Meyer its new CEO and landed $7 million in series A funding.
"I am excited to join Pathware and am fortunate to work alongside such a talented team," Mr. Meyer said. "We could not be more excited to have strong investors, as well as many industry experts show their belief in our team, technology and market by making personal investments. More importantly, it is a dream come true to see the value these sophisticated investors can add beyond their dollar in helping us achieve our mission."
Pathware said April 19 that the funding will be used to expand its team and submit its integrated digital pathology hardware and software system to the FDA for clearance. The funding round was led by UnityPoint Health Ventures and Level Eight Ventures, with participation from existing investors.
"While there has been tremendous progress applying artificial intelligence to digital pathology software, there has been no meaningful innovation in digital pathology hardware over the last two decades," Austin Duke, PhD, venture investing director at UnityPoint Health Ventures, said. "We are excited for Pathware's hardware and software innovations to enable new workflows and applications, as well as extend the reach of pathologists for the 90 percent of hospitals that are unable to staff pathologists on site. Just as important, we believe these advances will improve patient outcomes."