Two of the largest drugmakers in the country are investing in a startup applying artificial intelligence in pathology. Boston-based PathAI said Monday 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. "Merck, BMS and other strategic partners understand that having these best possible insight into the data is incredibly important for driving continued advancements in the rapidly moving field of immuno-oncology, ultimately helping to bring new and better treatments to patients faster," PathAI CEO Andy Beck said in a statement. According to the company's website, its technology is designed to help pathologists make rapid diagnoses for patients.

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.