NEW YORK--(BUSINESS WIRE)--Paige, the global leader in AI-based diagnostic software in pathology, today announced that the U.S. Food and Drug Administration (FDA) has granted de novo marketing authorization for Paige Prostate, a clinical-grade AI solution for prostate cancer detection. As a novel technology, Paige Prostate is the first AI-based pathology product to receive de novo approval from the FDA, allowing in vitro diagnostic (IVD) use via Paige's FDA-cleared FullFocus digital pathology viewer. With a projected 60 percent increase in the number of cancer cases globally in the next two decades and a decrease in the number of pathologists relative to this diagnostic demand, there is a significant need to provide new technologies for the practice of pathology. Paige Prostate is a cancer detection solution that identifies foci suspicious for cancer and provides this information to the pathologist. Paige Prostate is designed to assist pathologists in finding small foci of cancer and enable pathologists to work efficiently and confidently in their diagnostic process.
Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEX: 2318; SSE: 601318) is pleased to announce Ping An Global Voyager Fund is leading an investment of US$15 Million in Riverain Technologies, a leading provider of clinical artificial intelligence software used to efficiently detect lung disease at its earliest stages. Riverain Technologies markets advanced artificial intelligence imaging software used by leading hospitals around the world. The software significantly improves a clinician's ability to accurately and efficiently detect cancer and other cell anomalies in thoracic CT and X-ray images. The company's suite of patented ClearReadTM software tools are FDA-cleared, deployable in the clinic or in the cloud, and powered by the most advanced artificial intelligence and machine learning methods available to the medical imaging market. Its products are relied upon by leading healthcare institutions, including Duke University, Mayo Clinic, University of Chicago, University of Michigan, and Veterans Affairs hospitals.