Roche has signed a deal to pay $750 million upfront for Boston-based PathAI, an acquisition by the Swiss pharmaceutical giant to speed up its use of artificial intelligence to help pathologists diagnose disease.
The agreement, which is expected to close in the second half of the year, could generate an additional $300 million for PathAI if it leads to the achievement of certain milestones.
“Joining forces with Roche marks a new era for PathAI, enabling us to realize our mission of improving patient outcomes through AI-powered pathology at unprecedented scale and speed,” said Andy Beck, chief executive and cofounder of PathAI, in a statement. “Roche’s global infrastructure and expertise will bring our digital diagnostics technology to patients worldwide.”
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