Tribun Health Secures €15 Million Euros in Series B Funding Round Led by Autonomous Patient Fund of Bpifrance With LBO, Owkin and Vivalto Family as Prominent Investors
PARIS, September 5, 2023 (Newswire.com) - Tribun Health, a leading innovator in the field of digital pathology, is delighted to announce the completion of its Series B financing round, securing an investment of €15 million. This financing round is led by the Fonds Patient Autonome managed by Bpifrance, alongside several new investors, including Owkin and Vivalto Family, with whom the company has also signed commercial agreements, and the renewed support of its historic investor LBO France. Tribun Health, already twice awarded for the quality of its products and services by winning the prestigious "Best in KLAS Digital Pathology" global competition in 2022 and 2023, has been chosen to be part of the French Tech 2030 program, recognizing the company's remarkable achievements and confirming its potential to be at the forefront of innovation in digital healthcare.
The Series B funding round's success represents an important accomplishment for Tribun Health, further strengthening the company's financial position and opening new opportunities for growth in Europe and North America.
- The capital infusion will be utilized to accelerate the development and commercialization of Tribun Health's AI-powered digital pathology portfolio, for both diagnostic and pharmaceutical laboratories. By leveraging artificial intelligence and digitizing laboratory workflows, Tribun Health's platform empowers pathologists to efficiently analyze and interpret histological and cytological samples, leading to faster and more accurate diagnoses, ultimately benefiting patient outcomes.
- The funds will facilitate the expansion of sales and marketing activities in Europe and North America, bolster the development efforts, and scale up deployment resources to meet the growing demand for digital pathology solutions used in hospitals and private labs.
- It will additionally serve as funding for the recent purchase of Keen Eye company. The Keen Eye computational pathology platform, EyeDo, will be enhanced to capitalize on the secondary utilization of real-world oncology data for pharmaceutical and biotech purposes.
"We were impressed by both the potential of Tribun Health's software platform and the quality of its services. These strengths are supported by a strong management team and an innovative global vision that places the acquisition and valorization of healthcare data at the heart of tomorrow's diagnostics," said Jean-Briac Lesné, Investment Director at Bpifrance. "This stance solidified our decision to invest in the company to be part of their long-term success. I strongly believe that Tribun Health has the potential to transform the field of pathology and improve patient diagnosis and care," stated Sebastian Woynar, Managing Director - LBO France. "We are very excited to continue to be part of their remarkable journey."
In addition to the successful funding round, Tribun Health's selection as one of the participants in the highly selective French Tech 2030 program highlights the company's remarkable achievements and recognition as a leading player in the healthcare sector, particularly in the diagnostic landscape. Spearheaded by the French General Secretariat for Investment, the French Tech Mission, and Bpifrance, French Tech 2030 aims to provide tailored support to emerging innovators in strategic sectors. Tribun Health's participation in the program will grant access to extensive resources, collaboration opportunities with like-minded companies, engagement with private investors, and potential partnerships to further its technological advancements.
"We are honoured to be selected for the French Tech 2030 program, which recognizes our commitment to innovation and our impact on the health organization, providing solutions to improve the speed and the precision of cancer diagnosis," said Jean-François Pomerol, CEO of Tribun Health. "The provided support will enable us to push the boundaries of our AI-powered pathology platform, amplify our market reach, and make meaningful strides in the global healthcare landscape."
Rothschild acted as financial advisor to the company and Goodwin as legal advisor.
Source: Tribun Health
