Clarapath, a medical robotics company modernizing and transforming the way pathology labs process tissue, has raised $36 million in a Series B-1 funding round led by Northwell Ventures.
The financing also included participation from new strategic investors including CU Healthcare Innovation Fund, Mayo Clinic and Ochsner Ventures, bringing the company’s total funding to $75 million.
“Our strategic investors share our mission to revolutionize this critical aspect of patient care that has long been overlooked,” said Eric Feinstein, CEO of ClaraPass.
“As laboratories adopt digital pathology downstream, up-front automation will be critical to establish consistent results and deliver best-in-class samples for diagnostic review.
“Our automation and new digital tools collect and aggregate data like never before, benefiting patients with faster results and less subjectivity.”
The field of pathology involves the microscopic examination of cells and tissues and is the basis for the research, diagnosis, and treatment of almost all types of diseases, including cancer, autoimmune diseases, and degenerative disorders.
Currently, over 12 million human and animal biopsies are performed each year in the United States, including millions more biopharmaceutical safety biopsies.
Currently, laboratories are experiencing a multifaceted crisis due to severe labor shortages, increasing case volumes, and outdated manual processes for preparing tissue samples.
“Innovation is ingrained in Northwell’s culture and is integral to our commitment to investing in new solutions that improve patient care and reduce costs,” said Rich Mulry, CEO of Northwell Holdings.
“Seven years ago we recognized ClaraPath as a company with a bold vision to fundamentally change laboratory medicine and we are committed to continuing to support the company’s progressive efforts to transform medical diagnostics.”
Robotics and automation systems have been introduced into healthcare as a means of alleviating and standardizing workforce issues, but most of the progress has been directed toward surgical robots and physical rehabilitation.
With this latest funding, Clarapath is poised to become the first company in the U.S. to develop and deploy a new category of groundbreaking medical robotics, machine vision and digital automation tools to improve standards for hospitals and patients.
“Pathology laboratories have not seen the same level of technological innovation as other fields of medicine for a long time,” said Greg Sosaman, MD, chief of pathology and laboratory medicine at Ochsner Health and president-elect of the American College of Clinical Pathology.
“Clarapath has the right combination of technical and robotic expertise and healthcare workflow experience.”
The new funding will enable ClaraPass to further accelerate the commercialization of SectionStar. The company will also use the funds to expand its sales and service and precision manufacturing capabilities, and continue its strong research and development pipeline.
“Together, we are building the foundation for a ‘lab of the future,’ incorporating end-to-end automation, robotics and AI into the patient tissue lifecycle,” said Joaquin Garcia, MD, chief of the division of anatomic pathology in Mayo Clinic’s Department of Laboratory Medicine and Pathology and chair of Mayo Clinic’s Digital Pathology Program.
