Irish pathology software and services developer, Deciphex, has raised $11.5m in funding.

The money in the Series B round was provided by ACT Venture Capital, with Charles River Laboratories, Novartis, IRRUS Investments, Nextsteps Capital, HBAN Medtech Syndicate and other current investors also taking part.

Founded in 2017, Deciphex uses digital pathology and AI to speed up pathology diagnostics, improving productivity.

Its Patholytix digital pathology platform is also used in research by a majority of the world's biggest pharmaceutical companies and contract research organisations.

"This funding is an important milestone for the business in its ambition to use Digital Pathology and AI to network and accelerate the world's clinical and non-clinical pathologists," said Donal O'Shea, Chief Executive Officer of Deciphex.

"The ongoing support from our long term investors along with the addition of new strategic partners reaffirms the value we are bringing to the pathology community and the ambition of our future growth plans'."

In March of last year the business reached a deal with research organisation, Charles River Laboratories, International Inc. which is to use its tools to speed up the assessment of drug safety.

Late last year the company launched a new clinical diagnostics service called Dagnexia, which provides global on demand access to remote subspecialty clinical pathologists for diagnostic and consulting services.

"Deciphex has built a platform to support and enhance Pathologists’ capability to deliver their skills at scale," said John O’Sullivan, General Partner of Act Venture Capital.

"Donal and the team created the product with leading Pathology groups and the adoption over the past 2 years has confirmed the capability and opportunity to re-tool the Pathology work bench."