Dascena has closed a Series B financing, led by Frazier Healthcare Partners, of $50m to advance the development of its diagnostic algorithm to improve outcomes.
Along with Frazier Healthcare Partners, investors including Longitude Capital, Euclidean Capital and an undisclosed investor also participated in the investment round.
Frazier Healthcare Partners is a major provider of growth and venture capital to healthcare companies.
Series B funding will help Dascena advance its machine learning algorithms
The new financing round is expected to help the company advance its machine learning algorithms to inform patient care strategies and improve outcomes.
Dascena said that its algorithms have been validated through different National Institutes of Health and the National Science Foundation funded studies, with eighteen peer-reviewed publications.
In addition, a randomized controlled trial of hospitalized patients in the intensive care unit (ICU), demonstrated that the company’s InSight algorithm has reduced 58% patient mortality and reduced duration of hospital stay by 21%.
Dascena is a machine learning diagnostic firm that targets early disease intervention to improve patient care outcomes.
Dascena founder and chief executive officer Ritankar Das said: “At Dascena, we believe in the power of machine learning to improve patient care and outcomes, and we continue to develop algorithms to do just that.
“Machine learning is transforming how we solve problems across industries, and by applying this technology to healthcare, we will enhance the quality and efficiency of patient care.
“Our flagship sepsis algorithm, InSight, has produced significant decreases in mortality and hospital length of stay among patients with sepsis. In U.S. hospitals, over a quarter million patients die of sepsis each year. We believe that our InSight algorithm can have a substantial impact in this arena.”
