Two of the largest drugmakers in the country are investing in a startup applying artificial intelligence in pathology. Boston-based PathAI said that it had closed its $75 million Series B financing round with funding from New York-based Bristol-Myers Squibb and the Merck Global Health Innovation Fund, part of Kenilworth, New Jersey-based Merck & Co. PathAI said it would use the money to bolster its clinical development capabilities. PathAI had announced its $60 million Series B financing its April, led by venture capital firms General Atlantic and General Catalyst, with participation from LabCorp, which the company said the latest investment follows and extends.
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