Proceeds from the investment round will be used by the company to advance a suite of machine learning algorithms to inform patient care strategies and improve outcomes
Fremont, CA: California-based machine learning diagnostic algorithm company, Dascena, secured USD 50 million in a Series B funding round led by Frazier Healthcare Partners. The round was also participated by Longitude Capital, existing investor Euclidean Capital, and an undisclosed investor. Dascena is a machine learning diagnostic algorithm company that is targeting early disease intervention to improve patient care outcomes.
“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,” said Ritankar Das, founder, and chief executive officer of Dascena. “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.”
Proceeds from the investment round will be used by the company to advance a suite of machine learning algorithms to inform patient care strategies and improve outcomes. The company's algorithms have been validated through eighteen peer-reviewed publications in several studies funded by the National Institutes of Health and the National Science Foundation. “We view the InSight sepsis product as just scratching the surface of how machine learning can improve patient care, and Dascena is committed to continued innovation for the benefit of patients,” added Mr. Das.
In addition, Dascena recently validated the performance of InSight in a broader real-world outcomes study in both ICU and other hospitalized and emergency department patients. “Sepsis kills an American every two minutes, and early detection and treatment are critical to patient survival,” said Matthew Fine, M.D., chief medical officer of Oroville Hospital. “To combat this deadly condition, we have used Dascena’s sepsis prediction technology over the past two years and have found it very helpful for the care of our patients.”