UCLA Spin-Off Pictor Labs Secures $30 Million to Advance AI-Driven Virtual Tissue Staining

LOS ANGELES - Sept. 23, 2024 - PRLog -- Pictor Labs, a pioneering UCLA spin-off from the renowned Ozcan Lab at the UCLA Samueli School of Engineering, has announced the successful closing of its $30 million Series B funding round. The fundraising effort was led by Insight Partners, a global private equity and venture capital firm, with additional support from M Ventures, the corporate venture capital arm of Merck. The infusion of new capital will allow Pictor Labs to further develop and scale its cutting-edge AI-driven virtual tissue staining technology, a breakthrough in digital pathology that has the potential to significantly improve diagnostic precision, efficiency, and accessibility.

Pictor Labs was founded in 2019 by Dr. Aydogan Ozcan, a professor of electrical and computer engineering and bioengineering at UCLA and Dr. Yair Rivenson, a former postdoctoral member of the Ozcan Lab, with the vision of revolutionizing histopathology by addressing one of the field's core challenges: the time-intensive and laborious nature of traditional tissue sample preparation and staining methods. The company's innovative technology, which was initially developed in the Ozcan Lab at UCLA and subsequently licensed by Pictor Labs, allows for rapid and precise analysis of tissue samples without the need for traditional chemical staining. This virtual staining process leverages artificial intelligence to generate digitally stained images from raw, label-free tissue data, producing results that are comparable to or even superior to traditional methods in a fraction of the time.  As a UCLA spin-off, Pictor Labs continues to build on the foundational research conducted within the university's engineering and medical communities.

Dr. Rivenson, the CEO of Pictor Labs, expressed his enthusiasm about the funding round, noting that the support from Insight Partners and M Ventures will allow Pictor Labs to expand its operations, accelerate commercialization, and drive clinical adoption of its virtual staining technology. Dr. Ozcan further emphasized that the new funding will be instrumental in scaling the company's capabilities to meet growing demand in both research and clinical settings.

In addition to the immediate benefits of speeding up the tissue analysis process, Pictor Labs' virtual staining technology offers several long-term advantages. By eliminating the need for traditional staining methods, the technology reduces the reliance on costly and often hazardous/toxic chemicals, making the diagnostic process not only faster but also safer and more environmentally sustainable. Moreover, the AI-powered nature of the system allows for greater consistency and reproducibility in diagnostic results, which can be particularly beneficial in settings where access to expert pathologists may be limited.

UCLA TDG Video on Ozcan's discussion of Pictor Labs:

https://www.youtube.com/watch?v=Xn4xtX72Ieo



https://www.youtube.com/watch?v=DC5yg1WYuXc