Tuesday, August 18, 2026

Spatial biology update

 

Spatial Microscopy and Computational Pathology in 2026

Perspective for the 10x Genomics Spatial Oncology Project

Executive perspective

Spatial biology and computational pathology are increasingly difficult to regard as separate fields. One begins by measuring more information from tissue—RNA, protein, cell identity, molecular state, and spatial relationships at increasingly high plex and resolution. The other begins with ordinary pathology images and attempts to compute more information from what is already visible, using artificial intelligence to quantify morphology, identify cellular neighborhoods, predict molecular states, and increasingly infer signals that previously required molecular assays.

By 2026, those trajectories are converging.

This convergence is particularly relevant to the 10x Genomics project evaluating a multiplex slide-based protein/spatial oncology assay. The important question is no longer simply whether 20, 50, or 100 proteins can be visualized on a slide. The more consequential question is whether high-dimensional spatial measurement identifies a clinically meaningful tissue phenotype—a pattern of target expression, cell states, stromal architecture, immune context, or cellular neighborhoods—that predicts something important enough to change patient management. The current 10x project appropriately frames CSP around that clinical and economic problem rather than around multiplexing for its own sake.

The field now appears to be developing a three-layer architecture:

High-dimensional spatial assays create biological ground truth and discover phenotypes. Computational methods identify the features within those data that actually matter. Clinical products then either retain the high-dimensional assay, compress the discovery into a much smaller practical assay, or attempt to infer the phenotype directly from routine H&E.

That last possibility is both an opportunity and a competitive threat for high-plex spatial platforms.


1. Where the field stands in 2026

The term spatial microscopy covers several overlapping technologies rather than a single method. Conventional immunohistochemistry is already spatial biology: it identifies a molecular target and its location within tissue. Multiplex immunofluorescence extends the same principle to several proteins simultaneously. Cyclic fluorescence, imaging mass cytometry, highly multiplexed antibody imaging, digital spatial profiling, spatial transcriptomics, and related methods extend the observable molecular space from several analytes to dozens, hundreds, or thousands.

A useful 2026 status map is:

Technology layerCurrent status
Routine H&E microscopyUniversal clinical infrastructure
Digital whole-slide imagingClinically established and increasingly interoperable
Conventional IHCRoutine standard of care
Multiplex IF / modest-plex spatial protein assaysClinically feasible; established in selected laboratory-developed tests and translational programs
High-plex spatial proteomicsStrong research and pharmaceutical-development tool; limited routine diagnostic deployment
Spatial transcriptomicsRapidly maturing discovery and translational platform; still uncommon as a routine patient-level diagnostic
AI detection/classification from H&EReal clinical products and regulatory precedents exist
AI prediction of molecular or spatial phenotypes from H&ERapidly advancing; striking research results, but mostly pre-routine clinical use
Multimodal pathology foundation modelsVery rapid development; clinical-grade performance shown experimentally, but validation and deployment remain major issues

Reviews by Liu, Dai, and Wang and by Bollhagen and Bodenmiller describe a field that has moved beyond proving that tissue contains useful spatial information. The emphasis has shifted toward identifying functional niches, cellular neighborhoods, treatment-response patterns, and clinically translatable signatures. (Liu et al., PubMed; Bollhagen & Bodenmiller, PubMed). (PubMed)

At the same time, Pentimalli and colleagues emphasize that high-resolution spatial transcriptomics still faces substantial translational problems: tissue handling, cost, standardization, computational burden, multimodal data integration, prospective validation, and the need to reduce a research-scale readout to something usable in clinical workflows. (PubMed; DOI). (Annual Reviews)

Thus, "spatial biology is clinically here" and "spatial omics remains largely translational" can both be true. The answer depends on the plex, workflow, intended use, and clinical claim.


2. Spatial biology has moved from making maps to finding mechanisms

The first generation of spatial studies often produced visually remarkable maps demonstrating that tumors were heterogeneous. That observation was biologically important but rarely constituted a diagnostic product.

The newer literature asks more consequential questions: Does the spatial arrangement explain treatment response? Does it identify resistance? Can it separate clinically important populations? Does the spatial phenotype predict recurrence?

Several 2026 studies illustrate that shift unusually well.

Triple-negative breast cancer: the unit of biology becomes the cellular community

Yan and colleagues analyzed 427,857 cells from 101 patients with treatment-naive triple-negative breast cancer and spatial transcriptomic data from 44 patients. Rather than simply cataloging cell types, the investigators identified cancer-cell programs, 49 immune and stromal states, and eight spatially organized "ecotypes." Macrophage states, cancer-cell interferon signaling, HLA expression, and cell-cycle programs were associated with chemotherapy response. (PubMed; DOI). (PubMed)

The conceptual advance is important. The candidate biomarker is not necessarily "protein X is positive." It may be something closer to:

cell type A in state B, adjacent to cell type C, in a particular stromal and immune configuration.

That is a fundamentally different diagnostic object from traditional one-analyte pathology.

Colorectal metastasis: spatial biology finds clinically relevant microscopic ecosystems

Liu and colleagues combined Visium and Visium HD spatial transcriptomics, whole-genome sequencing, and high-plex protein imaging in 49 primary and metastatic colorectal tumors from 19 patients. Liver micrometastases showed early clonal divergence, stem-like/quiescent tumor states, immunosuppressive niches, and T-cell exhaustion. A six-gene micrometastasis signature was associated with ctDNA-defined MRD, disease-free survival, and chemotherapy resistance. (PubMed; DOI). (PubMed)

Again, the value of spatial measurement is not simply better visualization. The assay is revealing a biological state whose relevance would be diluted or lost by homogenizing tissue.

Metastatic colonization: spatial information becomes temporal information

Sun and colleagues went one step further by constructing a spatiotemporal atlas of metastatic colonization. Integrating spatial transcriptomics, single-cell RNA sequencing, and chromatin accessibility, the investigators identified a transient quiescent PHGDH-high disseminated tumor-cell state followed by macrophage-mediated remodeling of the metastatic niche. Perturbing these processes restored immune surveillance and inhibited metastatic growth in experimental models. (PubMed; DOI). (PubMed)

The implication is that the biological object of interest may eventually be neither a gene nor a cell nor even a static neighborhood, but a trajectory of spatial ecosystems.

That is scientifically powerful, although considerably harder to turn into a reimbursable clinical test.


3. ADCs may be one of the strongest arguments for genuine spatial biomarkers

Antibody-drug conjugates provide an unusually persuasive use case because their pharmacology is intrinsically spatial.

An ADC does not merely require expression of a target. Efficacy may depend on target density and heterogeneity, accessibility of the target, vascular delivery, extracellular matrix, stromal barriers, internalization, payload release, diffusion into neighboring cells, macrophage uptake, and the geometry of target-positive and target-negative cells.

Wijerathna-Yapa and colleagues describe ADC pharmacology as operating across multiple physical scales: intracellular processing, local bystander diffusion, and whole-tumor antigen heterogeneity. Their proposed development pathway begins with high-dimensional spatial discovery and ultimately seeks to reduce the signature to a clinically deployable assay.

That framework is supported by direct patient data. Cai and colleagues analyzed 912,360 cells from 47 HER2-positive breast cancers treated with an ADC. Spatial proteomics identified higher tumor-cell H3K27ac as associated with efficacy and collagen-positive fibroblasts as associated with resistance. Importantly, the investigators did not stop with a discovery map: they constructed an ADC barrier-prediction model based on spatial cellular neighborhoods and proposed implementation by multiplex immunofluorescence. The article is available online ahead of its September 2026 issue. (PubMed; DOI). (PubMed)

This provides an especially useful model for the 10x CSP concept:

high-plex technology may be most valuable not because every measured protein becomes a separately reportable clinical result, but because high-plex measurement discovers a multivariate spatial phenotype that conventional IHC could not have specified in advance.

The eventual clinical assay might remain high plex. But it might also be a distilled 6-marker, 10-marker, or 20-marker panel plus an algorithm.


4. Computational pathology is approaching spatial biology from the opposite direction

While spatial platforms are making the tissue measurement richer, computational pathology is asking how much latent biological information can be recovered from the cheapest and most ubiquitous tissue measurement of all: the H&E slide.

This progression has moved rapidly from relatively straightforward applications—tumor detection, grading, segmentation, cell counting—to prediction of mutations, gene-expression programs, treatment response, prognosis, and tumor-microenvironment states.

The most provocative recent work suggests that the distinction between "molecular assay" and "image assay" is becoming less clean.

Path2Space: predicting spatial transcriptomics from H&E

Shulman and colleagues' Path2Space model was trained using spatial transcriptomic data but deployed on H&E images. It predicts spatial expression patterns for thousands of genes and was applied to 976 TCGA breast tumors. The resulting spatially inferred tumor-microenvironment maps defined patient subgroups and produced treatment-response predictions that, in the reported datasets, exceeded conventional bulk-sequencing biomarkers. (PubMed; DOI). (PubMed)

The conceptual consequence is striking. Spatial transcriptomics can act as teacher data even when the eventual clinical assay is simply a digital H&E slide.

That does not make spatial transcriptomics unnecessary. It may make it more valuable as the high-information reference modality used to discover and train scalable biomarkers.

Atlas H&E-TME: thousands of quantitative spatial features from routine tissue

Standvoss and colleagues describe Atlas H&E-TME, which generates more than 4,500 quantitative tissue and cell-level readouts from H&E. Its validation strategy is notable because the investigators explicitly confront a central problem in computational pathology: H&E itself is an imperfect ground truth for ambiguous cell identities.

They therefore used molecularly informed IHC consensus for "deep" validation while separately testing generalizability across more than 1,500 cases, eight cancers, more than 25 tissue sources, and more than eight scanner types. In the reported experiments, the system matched or exceeded H&E-only pathologist performance for several cell-classification tasks. The paper remains an arXiv preprint rather than a peer-reviewed clinical validation study. (arXiv).

This study makes an important conceptual point for spatial-platform companies: molecularly measured spatial data can become ground truth for AI systems whose eventual input is only morphology.


5. Foundation models are changing the scale of computational pathology

Earlier computational pathology systems were generally designed to perform one task. A prostate cancer detector detected prostate cancer. A tumor segmentation model segmented tumor. Each new task required new labels and substantial new development.

Foundation models aim to learn a broad representation of tissue once and then adapt that representation to many downstream tasks.

Vorontsov and colleagues' PRISM2 illustrates how far this has progressed. PRISM2 was trained on 2.3 million whole-slide images and approximately 14 million question-and-answer pairs derived from nearly 700,000 pathology reports. Rather than learning image morphology alone, it was supervised using clinical language so that tissue features were associated with pathologic reasoning. In research evaluations, prompt-based inference matched or exceeded several specialized clinical-grade products for selected cancer-detection tasks without task-specific retraining. (PubMed; DOI). (PubMed)

Yet the limitations are as informative as the accomplishments. The authors note hallucinations and omissions in report generation, difficulty with some grading and subtyping tasks, limited explicit global spatial reasoning, and the need for further robustness testing because the underlying training slides originated from a restricted scanning environment.

The lesson is that a spectacular model result is not equivalent to a deployable diagnostic.


6. The bottleneck is shifting from measurement to validation

There was a period when the principal obstacle to spatial biology was technical: it was difficult to measure many targets in intact tissue.

That problem has not disappeared, but it is no longer the only bottleneck. Modern platforms can generate extraordinarily rich data. The harder questions increasingly occur downstream:

What exactly is the reportable biological variable?

How reproducibly can it be measured across laboratories, scanners, lots, operators, fixation conditions, and specimen types?

Does the spatial feature add information beyond standard pathology, conventional IHC, sequencing, and known clinical variables?

Can the feature be reduced to a locked algorithm before validation?

Does the result predict an outcome in external patients?

Does acting on the result improve a decision?

Can the assay be performed reliably and economically at clinical scale?

The importance of technical generalizability is becoming increasingly obvious in computational pathology. Scanner, stain, laboratory, fixation, and image-processing differences can become unintended features learned by AI models rather than irrelevant nuisance variables. The breadth component of the Atlas H&E-TME validation—more than 25 sources and more than eight scanner models—reflects precisely this concern.

The same principle applies to high-plex microscopy. A test cannot be analytically validated only as a biological idea. It must demonstrate that the entire pipeline—antibody reagents, staining chemistry, imaging, segmentation, feature computation, and final algorithm—remains reproducible.


7. There are already clinical precedents, but they are revealing in their simplicity

Spatial pathology is not entirely waiting for the future.

TissueCypher for Barrett's esophagus is a particularly useful precedent. The assay applies multiplex immunofluorescence to nine protein biomarkers, extracts 15 quantitative tissue features, and uses a fixed algorithm to estimate a patient's risk of progression to high-grade dysplasia or esophageal adenocarcinoma. Multicenter studies have evaluated its prognostic performance. (Iyer et al., PubMed; DOI). (PubMed)

The commercial experience is no longer trivial. Castle Biosciences reported in June 2026 that TissueCypher had surpassed 100,000 cumulative clinical orders; the number is company-reported rather than an independently audited measure of clinical utility, but it demonstrates that a spatial, algorithmic tissue assay can operate at substantial clinical scale. (Castle Biosciences, June 2026). (Castle Biosciences, Inc.)

The striking feature of TissueCypher is not extreme plex. It is a locked clinical question, a manageable panel, quantitative spatial features, and a defined patient-level score.

That may be a more instructive clinical precedent for CSP than a research platform producing several thousand measurements.


8. Digital pathology itself is already past the proof-of-concept stage

The infrastructure necessary for computational pathology has also matured substantially.

FDA authorized the first whole-slide imaging system for primary diagnosis in 2017. (FDA). (U.S. Food and Drug Administration)

In 2021, FDA authorized Paige Prostate, software intended to assist pathologists in detecting suspicious prostate cancer foci in digitized H&E biopsies. It established a specific regulatory category for machine-learning software analyzing digital pathology slides for cancer detection. (FDA De Novo DEN200080). (FDA Access Data)

Therefore, several pieces of the future system already exist independently:

digital slides can be used for primary diagnosis;

AI can operate on those slides under regulated clinical conditions;

multiplex spatial assays can operate as clinical laboratory tests;

high-plex research assays can discover complex biological tissue states;

and AI can increasingly learn relationships between ordinary H&E morphology and those molecular states.

The unresolved problem is how those pieces will be combined into economically and clinically compelling products.


9. 10x sits unusually close to both sides of the convergence

The current 10x spatial portfolio already illustrates the merging of microscopy, molecular measurement, and computational analysis.

Visium provides whole-transcriptome spatial gene-expression analysis at single-cell scale. Xenium performs high-plex in situ RNA mapping at subcellular resolution and now supports same-section RNA/protein measurements; current Xenium offerings extend to thousands of RNA targets with optional protein measurement. (10x Visium; 10x Xenium). (10x Genomics)

That position creates several potential roles for a CSP-type oncology product.

At one extreme, CSP could itself become the clinical test: a patient sample is run on a standardized multiplex platform and the complete spatial profile generates the report.

At a second level, CSP could become the discovery and validation engine for finding lower-dimensional clinical biomarkers. A 50- or 100-marker assay might discover that six cellular states and three spatial relationships contain nearly all the predictive signal; a much simpler assay could then be commercialized.

At a third level, CSP could become the molecular truth set for computational pathology. Large numbers of spatially characterized slides could train an H&E algorithm to reproduce some clinically useful fraction of the CSP phenotype without performing CSP on every future patient.

These are not mutually exclusive business models.


10. The central competitive question: how much spatial molecular information is actually irreducible?

The development of Path2Space and Atlas H&E-TME raises a difficult strategic question for every high-dimensional spatial assay company.

If the important biology is visible indirectly in morphology, an AI system may eventually infer it from H&E for pennies relative to the cost of a complex molecular assay.

But morphology cannot reveal everything.

Protein isoforms, phosphorylation states, receptor activation, rare transcripts, subtle co-expression patterns, clonally restricted molecular events, and analytes with weak morphological correlates may remain inaccessible to H&E inference. An AI model can only predict molecular information to the extent that morphology contains a reproducible correlate of that information.

This produces a useful distinction:

Spatial measurement asks what is actually there. Computational pathology asks what can be inferred from what is visible.

The strongest long-term clinical role for high-plex spatial measurement may therefore lie in biological information that either cannot be reconstructed reliably from H&E or is important enough that direct measurement remains preferable.

The same high-plex assay may simultaneously serve as the training reference that makes H&E inference possible for other features.


11. The likely translational funnel

A realistic clinical translation pathway increasingly looks less like:

100 proteins → 100 clinical results

and more like:

100 proteins + spatial relationships → biological discovery → candidate phenotype → algorithmic feature selection → external validation → compact patient-level result.

The Wijerathna-Yapa ADC framework explicitly proposes such a process, ending high-dimensional discovery with a simplified clinical-grade multiplex assay.

The TissueCypher precedent demonstrates that the endpoint can be surprisingly compact: nine measured proteins, 15 quantified features, one patient-level risk result.

Path2Space suggests an additional endpoint:

high-dimensional spatial discovery → H&E-trained AI → inexpensive virtual spatial biomarker.

These possibilities should shape how prospective CSP clinical studies are designed. If clinical development merely demonstrates that the platform can enumerate many proteins, it will be vulnerable to both conventional multiplex IHC and computational pathology. If it demonstrates that a particular spatial architecture predicts response where existing diagnostics fail, it creates a clinical proposition rather than a technology demonstration.


12. What would constitute a compelling CSP clinical use case?

The strongest use case would have five characteristics.

First, there would be a specific decision: choose drug A rather than drug B; identify patients likely to respond to an ADC; identify resistance despite nominal target positivity; or recognize patients requiring intensified therapy.

Second, conventional pathology or IHC would perform incompletely. If HER2 intensity alone already answers the question adequately, high-dimensional spatial profiling has limited incremental value.

Third, there would be a biologically plausible reason why spatial context matters. ADC penetration, bystander killing, stromal exclusion, immune neighborhoods, or target heterogeneity satisfy this criterion better than many purely cell-intrinsic biomarkers.

Fourth, the assay would produce a patient-level output, not a thousand-page description of the tumor.

Fifth, the spatial result would demonstrate incremental predictive or decision value over existing alternatives.

ADC selection therefore appears considerably more promising as a conceptual starting point than generic "cancer characterization." The Cai study is notable because it connects the full chain: molecular state → spatial microenvironment → treatment resistance → predictive model → lower-plex potential clinical implementation.


13. Perspective for the 10x project

The 2026 literature supports neither the view that high-plex spatial microscopy is merely an exotic research technology nor the view that it is about to replace routine pathology wholesale.

A more defensible interpretation is that the field is entering a translation-and-compression phase.

The ability to produce high-dimensional tissue maps is increasingly established. The frontier is determining which spatial features are sufficiently reproducible, predictive, actionable, and economically important to become clinical products.

Computational pathology is accelerating this transition because it can convert molecularly annotated tissue into scalable image biomarkers. In that sense, spatial microscopy and computational pathology are not simply competitors. They can form a productive loop:

spatial measurement discovers biology → computational pathology learns the phenotype → large H&E cohorts validate it → selected molecular measurements refine or confirm it → clinical assays are designed around the smallest reliable representation of the actionable biology.

For 10x, this suggests that the strategic unit of value should not automatically be the number of proteins measured. It should be the clinically actionable spatial phenotype that the platform can uniquely discover, quantify, validate, or deliver.

The most consequential question for CSP may therefore be:

What clinically important decision becomes possible because this assay knows not merely which proteins are present, but which cells express them, in what states, and in what spatial relationship to one another—and can that information be shown to outperform what pathology, IHC, sequencing, or H&E-based AI could otherwise provide?

If that question can be answered convincingly, the technological complexity becomes an asset. If it cannot, increasing plex alone is unlikely to create a clinical diagnostic category.


Bibliography

1. Liu Y, Dai Y, Wang L. 2026. Spatial omics at the forefront: emerging technologies, analytical innovations, and clinical applications. Cancer Cell. 44(1):24–49. DOI: 10.1016/j.ccell.2025.12.009. PubMed PMID 41478277. (PubMed)

2. Bollhagen A, Bodenmiller B. 2024. Highly Multiplexed Tissue Imaging in Precision Oncology and Translational Cancer Research. Cancer Discovery. 14(11):2071–2088. DOI: 10.1158/2159-8290.CD-23-1165. PubMed PMID 39485249. (PubMed)

3. Pentimalli TM, Karaiskos N, Rajewsky N. 2025. Challenges and Opportunities in the Clinical Translation of High-Resolution Spatial Transcriptomics. Annual Review of Pathology: Mechanisms of Disease. 20:405–432. DOI: 10.1146/annurev-pathmechdis-111523-023417. PubMed PMID 39476415. (Annual Reviews)

4. Yan Y, Lin Y, Kumar T, et al. 2026. Ecotypes of triple-negative breast cancer in response to chemotherapy. Nature. 654:1088–1097. DOI: 10.1038/s41586-026-10469-9. PubMed PMID 42129561. (PubMed)

5. Liu Y, Jadhav AS, Pan Y, et al. 2026. Spatial multi-omics landscape of colorectal cancer macro- and micrometastases. Cancer Cell. 44(8):1568–1586.e11. DOI: 10.1016/j.ccell.2026.06.009. PubMed PMID 42425074.

6. Cai Y-W, Jia S-H, Wang H, et al. 2026. Spatial proteogenomic profiling uncovers sensitization strategies for antibody-drug conjugate in HER2-positive breast cancer. Cell Reports Medicine. 7:102987. Published online ahead of the September 15, 2026 issue. DOI: 10.1016/j.xcrm.2026.102987. PubMed PMID 42594874.

7. Sun Y, Zhong Y, et al. 2026. Spatiotemporal multiomics uncover tumor ecosystem dynamics during metastatic colonization. Science. 393(6810):eadz7928. DOI: 10.1126/science.adz7928. PubMed PMID 42531396. (PubMed)

8. Shulman ED, Campagnolo EM, Lodha R, et al. 2026. AI-predicted spatial transcriptomics unlocks breast cancer biomarkers from pathology. Cell. 189(14):4225–4240.e25. DOI: 10.1016/j.cell.2026.04.023. PubMed PMID 42105763.

9. Vorontsov E, Shaikovski G, Casson A, et al. 2026. End-to-end multimodal pathology foundation model with clinical dialogue. Nature Medicine. Published online July 31, 2026. DOI: 10.1038/s41591-026-04521-4. PubMed PMID 42538427.

10. Standvoss K, Hägele M, Krupar R, et al. 2026. Atlas H&E-TME: Scalable AI-Based Tissue Profiling at Expert Pathologist-Level Accuracy. arXiv 2606.12346v2, July 14, 2026. arXiv. No PubMed PMID as of this writing.

11. Wijerathna-Yapa A, Mansfield J, Vasaturo A, Yeong JPS, Kulasinghe A. 2026. Spatial multiomics approaches for antibody-drug conjugate target discovery. Cell Press Blue. In press. DOI: 10.1016/j.cpblue.2026.100085. No PubMed record identified at the time of this review.

12. Iyer PG, Codipilly DC, Chandar AK, et al. 2022. Prediction of Progression in Barrett's Esophagus Using a Tissue Systems Pathology Test: A Pooled Analysis of International Multicenter Studies. Clinical Gastroenterology and Hepatology. 20(12):2772–2779.e8. DOI: 10.1016/j.cgh.2022.02.033. PubMed PMID 35217151. (PubMed)

13. Castle Biosciences. 2026. TissueCypher Test Surpasses 100,000 Orders, Advancing Precision Risk Assessment for Patients with Barrett's Esophagus. Corporate release, June 16, 2026. Castle Biosciences source. No PMID. (Castle Biosciences, Inc.)

14. U.S. Food and Drug Administration. 2017. FDA Allows Marketing of First Whole Slide Imaging System for Digital Pathology. April 12, 2017. FDA source. No PMID. (U.S. Food and Drug Administration)

15. U.S. Food and Drug Administration. 2021. De Novo Classification Request for Paige Prostate, DEN200080. September 21, 2021. FDA decision letter. No PMID. (FDA Access Data)

16. 10x Genomics. 2026. Xenium In Situ Platform and Visium Spatial Platform product and technical information. Xenium; Visium. No PMID. (10x Genomics)


Annotated Bibliography

1. Liu Y, Dai Y, Wang L. 2026. Spatial omics at the forefront: emerging technologies, analytical innovations, and clinical applications. Cancer Cell. 44(1):24–49.
DOI | PubMed PMID 41478277

This broad 2026 review is one of the most useful orientation documents for the field. It organizes the expanding spatial transcriptomic, proteomic, and related technology landscape while emphasizing the transition from descriptive maps toward functional niches, therapeutic response, multimodal integration, and clinically oriented study design. It is particularly useful for understanding spatial biology as an emerging clinical-information architecture rather than as a collection of microscopy platforms. (PubMed)

2. Bollhagen A, Bodenmiller B. 2024. Highly Multiplexed Tissue Imaging in Precision Oncology and Translational Cancer Research. Cancer Discovery. 14(11):2071–2088.
DOI | PubMed PMID 39485249

This review provides a strong overview of multiplex tissue-imaging technologies and their role in precision oncology. It explains why preserving tissue architecture adds information beyond dissociated-cell or bulk molecular assays and provides useful context for the capabilities and limitations of high-plex protein imaging. (PubMed)

3. Pentimalli TM, Karaiskos N, Rajewsky N. 2025. Challenges and Opportunities in the Clinical Translation of High-Resolution Spatial Transcriptomics. Annual Review of Pathology. 20:405–432.
DOI | PubMed PMID 39476415

Pentimalli and colleagues focus specifically on the gap between research performance and clinical translation. The review is important because it counters technological enthusiasm with the practical requirements of clinical pathology: reproducible specimens, standardized workflows, manageable data, validation, cost, and interpretability. (Annual Reviews)

4. Yan Y, Lin Y, Kumar T, et al. 2026. Ecotypes of triple-negative breast cancer in response to chemotherapy. Nature. 654:1088–1097.
DOI | PubMed PMID 42129561

This large study illustrates why spatial biology may create biomarkers qualitatively different from traditional single-analyte tests. The investigators identify cellular communities and spatial ecotypes associated with chemotherapy response, with macrophage and cancer-cell programs emerging as important features. It provides a strong example of the "multicellular phenotype" as the potential diagnostic unit.

5. Liu Y, Jadhav AS, Pan Y, et al. 2026. Spatial multi-omics landscape of colorectal cancer macro- and micrometastases. Cancer Cell. 44(8):1568–1586.e11.
DOI | PubMed PMID 42425074

This study integrates conventional pathology, spatial transcriptomics at two resolutions, genomics, and high-plex protein imaging. It demonstrates how microscopic metastatic deposits differ biologically and spatially from overt metastases and derives a six-gene signature linked to MRD, survival, and treatment resistance. It is a particularly good example of high-dimensional spatial discovery being distilled toward a much smaller biomarker.

6. Cai Y-W, Jia S-H, Wang H, et al. 2026. Spatial proteogenomic profiling uncovers sensitization strategies for antibody-drug conjugate in HER2-positive breast cancer. Cell Reports Medicine. 7:102987.
DOI | PubMed PMID 42594874

Cai and colleagues provide one of the most directly relevant examples for a spatial oncology protein strategy. High-dimensional imaging identified tumor-cell H3K27ac and collagen-positive fibroblasts as determinants of ADC response and supported a spatial neighborhood-based prediction model. Especially important for translation, the investigators explicitly propose implementation of the resulting model with multiplex immunofluorescence rather than requiring the full discovery platform.

7. Sun Y, Zhong Y, et al. 2026. Spatiotemporal multiomics uncover tumor ecosystem dynamics during metastatic colonization. Science. 393(6810):eadz7928.
DOI | PubMed PMID 42531396

This paper demonstrates that spatial biology can capture dynamic rather than merely static tumor states. The identification of a transient quiescent disseminated-tumor-cell state and subsequent macrophage-mediated niche remodeling shows how spatially resolved biology can identify mechanistic windows that conventional bulk measurements would obscure. (PubMed)

8. Shulman ED, Campagnolo EM, Lodha R, et al. 2026. AI-predicted spatial transcriptomics unlocks breast cancer biomarkers from pathology. Cell. 189(14):4225–4240.e25.
DOI | PubMed PMID 42105763

Path2Space is a key convergence paper. Spatial transcriptomics supplies the high-information training data, while routine H&E becomes the scalable input. The study therefore suggests a plausible future in which expensive spatial assays are crucial for biomarker discovery and model training even when the final clinical test is performed computationally on ordinary pathology images.

9. Vorontsov E, Shaikovski G, Casson A, et al. 2026. End-to-end multimodal pathology foundation model with clinical dialogue. Nature Medicine. Published online July 31, 2026.
DOI | PubMed PMID 42538427

PRISM2 represents the rapid evolution from single-purpose pathology AI toward large generalist models. Its scale—millions of slides plus report-derived clinical language—and performance against specialized clinical algorithms show how quickly computational pathology is progressing. Equally important are the authors' stated limitations concerning hallucination, global spatial reasoning, and scanner/site generalizability.

10. Standvoss K, Hägele M, Krupar R, et al. 2026. Atlas H&E-TME: Scalable AI-Based Tissue Profiling at Expert Pathologist-Level Accuracy. arXiv 2606.12346v2.
arXiv

This preprint is useful less because of any single accuracy statistic than because of its validation architecture. The authors recognize that pathologists reading H&E are themselves an imperfect reference for some cell types, establish an IHC-informed molecular reference for deep validation, and separately test broad generalizability across many cancers, laboratories, and scanners. It illustrates how spatial molecular measurement and computational pathology can become mutually reinforcing rather than competing disciplines.

11. Wijerathna-Yapa A, Mansfield J, Vasaturo A, Yeong JPS, Kulasinghe A. 2026. Spatial multiomics approaches for antibody-drug conjugate target discovery. Cell Press Blue. In press.
DOI

This perspective provides a particularly useful framework for ADC applications, in which target density, microenvironment, stromal barriers, payload diffusion, and bystander effects occur at different spatial scales. Its proposed development funnel—high-dimensional discovery followed by biomarker selection and eventual clinically practical multiplex testing—is directly relevant to how a CSP-like technology might create value.

12. Iyer PG, Codipilly DC, Chandar AK, et al. 2022. Prediction of Progression in Barrett's Esophagus Using a Tissue Systems Pathology Test: A Pooled Analysis of International Multicenter Studies. Clinical Gastroenterology and Hepatology. 20(12):2772–2779.e8.
DOI | PubMed PMID 35217151

The pooled TissueCypher analysis provides a concrete example of a multiplex spatial pathology assay that has crossed into clinical laboratory use. Nine protein biomarkers and morphometric information are converted into quantitative image features and a patient-level risk result. It demonstrates that clinical success does not necessarily require extreme plex; it requires a validated output linked to a defined management problem. (PubMed)

13. Castle Biosciences. 2026. TissueCypher Test Surpasses 100,000 Orders. Corporate release, June 16, 2026.
Source

This company source provides contemporary commercial context rather than independent evidence of clinical validity. The reported 100,000 cumulative orders indicate that an algorithmic spatial tissue assay can be operationalized at meaningful scale, which makes TissueCypher a useful existence proof when considering clinical deployment models for multiplex spatial pathology. (Castle Biosciences, Inc.)

14. U.S. Food and Drug Administration. 2017. FDA Allows Marketing of First Whole Slide Imaging System for Digital Pathology.
FDA source

This FDA action marks an important infrastructure milestone: digital whole-slide images could be used for primary pathologic diagnosis rather than merely consultation or research. It created the regulated digital substrate upon which clinical computational pathology could subsequently develop. (U.S. Food and Drug Administration)

15. U.S. Food and Drug Administration. 2021. De Novo Classification Request for Paige Prostate, DEN200080.
FDA decision letter

Paige Prostate is a landmark regulatory precedent for machine-learning analysis of digitized H&E pathology. The authorization is narrower than the molecular and spatial inference envisioned by current foundation models, but it demonstrates that regulated AI-assisted interpretation of pathology images is already a clinical reality rather than a hypothetical future category. (FDA Access Data)

16. 10x Genomics. 2026. Xenium In Situ Platform and Visium Spatial Platform.
Xenium | Visium

The current 10x platforms illustrate the broader technological convergence described in the essay. Visium provides high-dimensional spatial transcriptomic measurement, while Xenium integrates subcellular in situ imaging, molecular detection, optional protein measurement, cell segmentation, and computational visualization. These capabilities place 10x near the intersection of high-dimensional tissue measurement and the computational extraction of clinically meaningful spatial phenotypes. (10x Genomics)


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What is the five- to ten-year outlook for clinical testing with spatial biology?  One expert says, "Unlikely!"

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The statement is quite defensible—but much depends on what counts as a “real impactful clinical application.” If that means that by 2031–2036 pathology laboratories will routinely perform 50-, 100-, or 1,000-plex spatial assays on patients and use the results to select treatment, the skeptical position has considerable force. If it means that spatial measurement will materially influence biomarker discovery, companion diagnostics, trial enrollment, or a smaller number of specialized clinical tests, the prediction looks much less secure.

The case for skepticism

The strongest argument is historical. Molecular diagnostics is full of technologies that produced spectacular research papers years before producing useful clinical tests. Demonstrating that two groups of patients have different spatial ecosystems is comparatively easy; demonstrating that measuring that ecosystem prospectively improves a medical decision is much harder.

Much of the current literature still sits toward the discovery end of that spectrum. Spatial studies can now identify dozens of cell states, cellular neighborhoods, ligand-receptor relationships and microenvironmental structures. But the output is often a biological atlas rather than a clinical answer. A clinician cannot order “the 37-dimensional tumor ecosystem.” A test ultimately has to say something such as give this drug, avoid this drug, increase surveillance, or this patient has a 35% five-year risk. The necessary compression from thousands of measurements to a locked, validated patient-level result remains a major translational bottleneck.

Analytical validation is also unusually difficult. A spatial assay is not simply measuring whether analyte X is present. Its result may depend upon fixation, staining, antigen retrieval, image quality, segmentation, cell classification, neighborhood definitions and an algorithm. An industry review of clinical spatial workflows explicitly describes the historical problems of inconsistent staining, operator-dependent scanning, inter-instrument variation and computational complexity. These problems multiply as plex and algorithmic complexity increase.

There is also a statistical problem. High-dimensional spatial assays can generate enormous numbers of candidate features from relatively small clinical cohorts. A beautiful spatial signature discovered in 40 or 100 patients can disappear when taken to another institution, another scanner, another patient population or another treatment regimen. The ADC literature itself notes substantial attenuation between discovery and validation for some spatial signatures.

Economics strengthens the skeptical argument. Routine H&E costs little because it is already performed. IHC is ubiquitous and clinically intelligible. Sequencing has established workflows, coding, quality systems and reimbursement. A new spatial assay therefore must show not merely that it provides additional information, but that the additional information is worth the incremental specimen handling, instrumentation, computation, professional interpretation and payment.

And computational pathology presents a particularly interesting threat. Path2Space was trained on spatial transcriptomic data but then inferred spatial gene-expression patterns from ordinary H&E. Its authors describe the resulting approach as scalable and inexpensive and report treatment-response predictions derived from routine histology. If that paradigm generalizes, some spatial technologies could perform the expensive discovery work only to teach an AI model that subsequently performs the clinical test from H&E.

Thus the skeptical expert could plausibly argue:

Spatial biology may become enormously important scientifically while the spatial assay itself never becomes a major clinical laboratory testing category.

That distinction has considerable precedent in laboratory medicine.

The case against the skeptical forecast

The strongest counterargument is that the predicted future has already begun in modest form.

TissueCypher is difficult to dismiss completely. It uses nine-protein multiplex immunofluorescence, quantitative digital microscopy and computational spatial features to generate a patient-level Barrett's esophagus progression-risk result. The supplied industry account reports more than 39,000 test reports in 2025. It is therefore incorrect in a literal sense to say that spatial biology has no clinically impactful application today.

The skeptic could reasonably respond that nine-marker multiplex fluorescence is quite different from the much more ambitious technologies now marketed as “spatial biology.” But that objection may reveal the likely translation mechanism rather than invalidate the field.

Clinical spatial biology may not arrive as a 100-marker clinical assay. It may arrive through a funnel:

high-plex spatial discovery → identification of the critical biology → algorithmic reduction → small multiplex panel → clinical score.

The new ADC work from Cai and colleagues is a striking example. Imaging mass cytometry on more than 900,000 cells identified spatial features associated with ADC response, including H3K27ac-positive tumor cells and collagen-positive fibroblasts. The investigators then constructed an ADC barrier score from relationships among epithelial cells, endothelial cells and fibroblasts. Crucially, they explicitly describe the resulting model as potentially implementable using multiplex immunofluorescence.

That is much closer to a plausible companion diagnostic than a 50-page spatial atlas.

ADCs also provide a biological reason to suspect that spatial information may eventually prove irreducible. ADC efficacy depends not merely upon whether HER2, TROP2 or another antigen is present. Antigen heterogeneity, membrane localization, stromal barriers, vascular access and bystander diffusion all occur at different spatial scales. A recent ADC perspective argues that these processes cannot simultaneously be represented by conventional IHC or bulk sequencing. If a spatial phenotype predicts a $100,000-plus cancer therapy substantially better than conventional IHC, the economics of testing change dramatically.

There is another way in which the skeptic could be wrong: clinical impact need not require routine spatial testing of every patient.

Spatial methods could become consequential in drug development and companion-diagnostic creation. A pharma company might use thousands of spatially characterized trial samples to determine why an ADC works, establish which patients should receive it, and then translate the finding into a simpler diagnostic. The spatial platform would have altered clinical medicine even though the FDA-approved companion test ultimately contained six stains rather than sixty.

Path2Space makes the same point from the opposite direction. If spatial transcriptomics supplies the molecular ground truth that enables an H&E algorithm to predict treatment response, spatial biology has had a major clinical impact even though the patient never receives a spatial transcriptomics assay.

Both sides may therefore be partly right

The disagreement becomes much smaller when “spatial biology” is divided into three different propositions.

The most doubtful proposition is that comprehensive high-plex spatial profiling becomes the next NGS—an ordinary diagnostic test ordered on large numbers of cancer patients, reimbursed at several thousand dollars, and routinely interpreted in clinical laboratories. Five years is very short for that transition, and even ten years may be optimistic.

A more plausible proposition is that several narrow clinical assays emerge in which a particular spatial phenotype has unusually strong utility: ADC response, immunotherapy response, progression risk, or another treatment-selection problem. Those tests may contain 5–20 markers rather than 100.

The most plausible proposition is that spatial biology becomes deeply embedded in biomarker discovery, pharmaceutical development and computational pathology, while remaining largely invisible to the practicing physician. High-dimensional spatial assays would discover the phenotype; smaller multiplex assays or H&E AI would deliver it clinically.

That last possibility makes the apparently bearish forecast surprisingly compatible with a bullish view of the underlying technology.

For the 10x project, this distinction is consequential. A convincing commercial thesis probably should not depend upon the assumption that oncologists will routinely order a massive spatial profile simply because such a profile can be generated. The stronger thesis is that high-dimensional spatial measurement can discover or directly measure a specific spatial biological state that changes an expensive and consequential treatment decision, and that 10x can own an important part of the path from discovery to clinically deployable result.

In that formulation, the skeptical pathologist's warning is less an argument against spatial biology than a warning against confusing technical capability with a clinical product. The 2026 evidence makes that warning look well founded. But it does not yet justify concluding that spatial biology will have little clinical impact over the coming decade. The more likely outcome is narrower, less spectacular, and perhaps commercially more interesting: a handful of important clinical applications, many more pharmaceutical applications, and substantial clinical impact delivered indirectly through compressed assays and computational pathology.


From H&E to Genes    Standvoss vs Dawood


The two papers look, at first glance, as though they are on opposite sides of the same argument about how much biology can be extracted from H&E. On closer inspection, Dawood is much less damaging to Standvoss than to the H&E→gene-expression/mutation papers that Dawood was actually attacking. Standvoss has rather cleverly moved the target much closer to what is visibly present in the slide.

Dawood's central objection is not that AI cannot extract useful information from H&E. It is that an impressive H&E prediction of, say, ER, TP53, BRAF, MSI, TMB, or another molecular variable does not establish that the network has recognized morphology caused specifically by that molecular variable. Grade, histologic subtype, other mutations, receptor status, TMB, etc. are correlated with one another. A model can therefore obtain a very good aggregate AUROC while mostly reading a correlated phenotype. Dawood shows exactly this by stratification: performance often falls substantially when those correlations are broken apart. For example, the paper finds that MSI prediction falls markedly after conditioning on hypermutation or other correlated variables, and ER/PR/mutation predictions weaken within grade or molecular strata.

Standvoss is doing something fundamentally different. Atlas H&E-TME does not claim to read TP53 mutations, RNA expression, or HER2 biology from an H&E slide. Its primary outputs are much nearer the optical phenotype itself:

  • tissue regions — carcinoma, epithelium, stroma, necrosis, blood, vessels;

  • cell classes — carcinoma cells, lymphocytes, plasma cells, macrophages, granulocytes, fibroblasts, endothelial cells, etc.;

  • quantities derived from those classifications — counts, densities, ratios, nuclear morphology and spatial neighborhoods.

Those become >4,500 numerical features, but the 4,500 should not be confused with 4,500 inferred molecular measurements. They are largely computed morphometric/spatial measurements of things the algorithm first identifies on H&E.

That distinction is crucial. Dawood asks, in effect:

Does this image really tell you the mutation, or is the AI merely recognizing grade/subtype/TME patterns correlated with the mutation?

Standvoss asks:

Can the AI accurately identify and quantify the grade/subtype/TME-type morphology itself?

The latter is much less vulnerable to Dawood.

In one important respect, Standvoss actually behaves as if it had absorbed the Dawood philosophy

Its most interesting methodological feature is the refusal to regard an H&E pathologist label automatically as ground truth. Standvoss explicitly acknowledges that macrophages, granulocytes, plasma cells, etc. can be morphologically ambiguous. The investigators stain the same physical section first with H&E and then, after bleaching, with a five-marker IHC panel, coregister the images, and have five pathologists reassess the cells with the molecular information available. That produces the IHC-informed consensus against which both AI and H&E-only pathologists are judged.

That is actually a quite strong answer to one family of "paper tiger" problems. They are not saying:

H&E AI agrees with H&E annotations; therefore it must be biologically right.

They ask whether the H&E inference survives confrontation with an orthogonal biological reference. And it does reasonably well: macro F1 0.738 for Atlas versus about 0.71 for the average H&E-only pathologist, with particularly high performance for carcinoma cells and lymphocytes and weaker performance for macrophages.

The paper also has an unusually extensive breadth test: >1,500 cases, >200,000 annotations, eight cancers, major metastatic sites, >25 sources and >8 scanners. That addresses another Dawood-adjacent concern—whether an apparently impressive result is really a peculiar property of one cohort.

But Dawood has not disappeared. He re-enters one step downstream.

This is where the wording in Standvoss becomes important. The authors say these 4,500 H&E-derived features can support "biomarker discovery or patient stratification" and describe Atlas as laying a foundation for a new generation of tissue-based biomarkers.

That is reasonable, but it is precisely at that second step that a Dawood analysis becomes necessary.

Suppose Atlas reports:

high macrophage density + particular tumor/stroma geometry + lymphocyte neighborhood pattern → response to pembrolizumab.

Or:

Atlas spatial signature X → BRAF mutation.

Or:

Atlas TME signature Y → HER2-low biology.

Now Dawood's questions apply almost verbatim. Does X independently contain information about BRAF, or is X merely tracking right-sided CRC, MSI, grade, histologic pattern and other variables correlated with BRAF? Does the putative immunotherapy-response signature work within PD-L1, MSI, grade, stage, histologic subtype and treatment strata? Does it add anything to information already available to the pathologist and oncologist?

So there are really two layers:

H&E → cells/tissue/spatial architecture:
Dawood has limited force. Standvoss validates this unusually well.

Cells/tissue/spatial architecture → genotype, expression, prognosis or treatment response:
Dawood comes roaring back. Every downstream "biomarker" created from the Atlas features would need dependency-aware, stratified validation.

There is even a little warning sign inside Standvoss itself. In the broad validation, macrophage classification is much weaker in certain environments—for example F1 0.54 at bone metastases and 0.65 in liver metastases—while carcinoma classification remains ≥0.96. Standvoss correctly attributes this to the difficulty of distinguishing morphologically similar resident phagocytic populations. This is not the Dawood molecular-confounding phenomenon, but it illustrates the underlying principle: an AI result can depend strongly on the biological context in which the visual feature occurs. Standvoss recognizes rather than conceals that limitation.

And, interestingly, Standvoss does not cite Dawood

I checked the Standvoss reference list and searched the paper specifically for Dawood. Dawood et al., Nature Biomedical Engineering 2026, is not among the 43 references. The related-work discussion includes H&E tissue profiling, foundation models, H&E annotation variability, IHC/mIF-derived ground truth, and newer benchmarks such as PhenoBench, but not Dawood's confounding paper.

That omission is understandable because the papers' immediate technical problems differ. But intellectually, I think Dawood deserved a citation, especially around Standvoss's claims about downstream biomarker discovery. The combination of the papers yields a very useful hierarchy:

H&E can be excellent at measuring morphology.
Morphology can certainly correlate with molecular biology.
But accurately measuring morphology does not prove that one has measured the molecular variable that correlates with it.

That last sentence is almost the reconciliation of Standvoss and Dawood.

Bottom line: Dawood does not knock down Atlas H&E-TME. In fact, Standvoss is one of the more defensible ways to push H&E AI forward after Dawood: extract explicit, interpretable morphology and validate it against IHC rather than making a black-box leap directly to invisible molecular states. But Atlas's impressive 4,500-feature output should be viewed as a very rich digital morphometry panel, not a virtual spatial-omics assay. The moment those features are claimed to stand in for gene expression, mutation status, drug response, or other molecular biomarkers, the full Dawood burden of proof applies again.

Sunday, August 16, 2026

An AI Query About the PRA

What is known about the Patients Rights Advocate organization PRA, such as how old is it, where does funding come from, who is the leadership, what do data like IRS 990 say...

Master article about PRA-AMA-CPT is here.

x

Yes. There is a reasonably clear picture in the public record, and it makes PatientRightsAdvocate.org (PRA) more interesting than I had appreciated from the lawsuit alone. It is not an old-line patient membership organization. It is a fairly young, founder-driven, philanthropy-funded policy and advocacy organization, with substantial money behind it despite a remarkably small visible governance and staff structure.

How old is it?

PRA was formed in 2017 and received its IRS 501(c)(3) determination in January 2018. Its EIN is 82-3586244. The filings through 2024 list Newton, Massachusetts as its principal location; interestingly, the new AMA complaint says PRA is in the process of moving its incorporation and operations to Florida. (ProPublica)

Its stated activity is unusually focused: research whether hospitals, insurers and other healthcare organizations comply with federal price-transparency requirements, and advocate for consumers, businesses and taxpayers through transparency and competition. 

In other words, it is fundamentally a health-policy advocacy and research shop, not an organization principally providing individual patient services. (Inspiring Generosity)

Who runs it?

The central figure is Cynthia A. Fisher, founder and chairman. She is a life-sciences entrepreneur who founded ViaCord and co-founded ViaCell, later sold to PerkinElmer; she is also a Boston Beer Company director. Boston Beer's SEC filing identifies her as the spouse of Boston Beer founder C. James “Jim” Koch. She receives $0 compensation from PRA according to the recent 990s. (PatientRightsAdvocate.org)

The organization's website currently identifies Linda Bent as President and Ilaria Santangelo as Director of Research. Bent is described as a manager at a Boston-area family office. 

  • The 2024 Form 990 lists Santangelo at $189,006
  • research/communications manager Julia Havlak at $129,704 and 
  • Marie Larobareier at $115,006. 
  • Fisher and Bent are listed at zero compensation on that filing. (PatientRightsAdvocate.org)

The 990s tell a striking financial story

PRA went from tiny to very large very quickly. In 2017 it reported only $210,000 of revenue. By 2020 it was receiving $8.6 million; in 2021, $23.2 million; and in 2022, $19.0 million. Nearly all of that early growth was charitable contributions: $8.53M in 2020, $21.36M in 2021 and $16.76M in 2022. (ProPublica)

Then it began spending down that capital aggressively. In 2023, PRA had only $1.88M revenue but spent $13.91M, reducing net assets to $6.97M. In 2024, it received $7.79M but spent $12.09M, leaving $2.67M in year-end net assets. Of 2024 revenue, $5.34M was contributions; another $2.35M was net proceeds from sales of assets. (ProPublica)

I summed the IRS figures from 2017 through 2024: PRA received about $63.0 million in total revenue and spent about $60.3 million. Roughly $54.7 million—87% of all revenue—was reported as contributions. So this is emphatically not an earned-revenue nonprofit. It has had essentially no program-service revenue. (ProPublica)

Where did all those contributions come from?

Here there is an important limitation. PRA's public Form 990 tells us how much it receives in contributions, but generally not who the donors are. The IRS specifically exempts the names and addresses of donors to ordinary public charities from public disclosure. Private foundations are different: their 990-PFs are public, so sometimes the donor can be identified from the donor's return rather than PRA's. (IRS)

And there is one very large clue. A grant database constructed from 990-PF filings identifies the Fisher Koch Family Foundation as having awarded PRA $27.4 million in 2021, for the purpose “support the organization.” The Fisher Koch Family Foundation's IRS records list Cynthia A. Fisher as a director; that foundation made $28.3M in total charitable disbursements in its fiscal 2021. (Granted AI)

I would put a small asterisk beside the exact $27.4M until looking directly at the underlying grant schedule—the grant database is secondary, and foundation and recipient fiscal years need not align. But the evidence is strong that Fisher-family philanthropy was a very important, probably dominant source of PRA's extraordinary early capitalization.

PRA itself gives a lot of money away

This is another feature I had not expected. PRA is not merely spending its money on its own reports and lobbying/advocacy. Its 990 schedules show 28 grants totaling $16.2 million during 2020–2024. Recipients have included Power to the Patients ($4.74M in 2022 and $2.025M in 2023), Families USA, Johns Hopkins, Bentley University, Brown University, U.S. PIRG Education Fund—and also ideologically conservative organizations including ALEC, America First Policy Institute, AMAC Action and Young Americans for Liberty. (Inspiring Generosity)

That mix is actually revealing. It looks less like a conventional partisan advocacy organization than a well-funded campaign organized around the particular economic doctrine of healthcare price transparency, willing to fund allies on both the left and right when they advance that objective.

One eyebrow-raising governance feature

The 2024 990 reports just two voting members of the governing body, of whom only one is independent. It also answers “No” to having a conflict-of-interest policy, whistleblower policy, document-retention policy, and independent review of top-official compensation. Those are disclosures, not evidence of wrongdoing, but they are notably sparse governance arrangements for an organization that has moved more than $60 million through its books. (Inspiring Generosity)

Charity Navigator currently gives PRA 65%, two stars. The rating appears substantially affected by these accountability/governance issues: Charity Navigator notes no independently audited financial statements, no audit-oversight committee, and no records-retention policy. It also notes positively that PRA reports no material diversion of assets or insider loans. So the two-star rating should not be read as an allegation of financial misconduct. (Charity Navigator)

My read (AI)

The shortest characterization would be:

PRA is an eight-to-nine-year-old, Cynthia Fisher-founded healthcare policy nonprofit that was capitalized with tens of millions of philanthropic dollars, apparently including very substantial Fisher-Koch family funding, and has used that capital unusually aggressively for research, publicity, coalition-building, grants, price-transparency advocacy—and now litigation.

That context makes the AMA case more intelligible. This is not a small consumer group that suddenly decided to challenge CPT. It is a comparatively small organization institutionally, but it has had the financial resources to mount sustained national policy campaigns and litigate against major healthcare trade associations.

I think the next worthwhile exercise would be to trace PRA's funding year-by-year from the donor side—searching private-foundation 990-PFs for its EIN, and then mapping its own $16.2M in outgoing grants. That could tell us much more precisely who built PRA financially and where PRA has deployed the money.

##

OK

##

Yes. I traced both directions, and the result is fairly revealing. There is also one qualification to my earlier answer: the Fisher-Koch funding is clearly substantial, but its precise year-by-year accounting is less clean than I initially implied.

1. What PRA itself reports receiving

PRA's Form 990s show a dramatic capitalization beginning in 2020. Its reported contributions and grants total about $54.72 million from 2017 through 2024:

PRA fiscal yearContributions/grants reported by PRA
2017$210,172
2018$335,056
2019$1,923,818
2020$8,528,246
2021$21,363,091
2022$16,760,000
2023$260,000
2024$5,337,500
Total$54,717,883

The figures come directly from the IRS-derived 990 data. The extraordinary period was 2020–2022: about $46.65 million in contributions in three years. (ProPublica) Earlier years were much smaller, while 2023 saw contributions collapse to $260,000 before rebounding to $5.34 million in 2024. (ProPublica)

2. Can we identify who gave the money?

Only partly—and there is a structural reason.

Ordinary 501(c)(3) public charities do not have to make the names and addresses on their donor Schedule B publicly available. Private foundations are different, because their grantmaking is publicly disclosed; public charities that make grants also leave a donor-side trail. Thus we can search other organizations' filings for PRA's EIN, but there will always be holes. The IRS explicitly confirms this disclosure rule. (IRS)

A donor-side IRS database finds three identifiable grants to PRA in 2022–2023:

Donor-side recordYearAmount
Donor Advised Charitable Giving2022$16,500,000
Corporate Creations Foundation2022$10,000
Apex Foundation2023$10,000

That $16.5 million item is the striking one. (Inspiring Generosity)

Donor Advised Charitable Giving, EIN 31-1640316, is the entity associated with Schwab Charitable—now branded DAFgiving360. Its IRS filing describes its mission as administering a donor-advised giving program and lists schwabcharitable.org as its website. (Inspiring Generosity) The current DAFgiving360 site confirms that it operates donor-advised fund accounts. (Schwab Brokerage)

So in 2022 we can say something quite precise:

PRA reported $16.76 million in total contributions, and $16.5 million—98.4% of that amount—is identifiable as coming through a Schwab donor-advised fund sponsor.

But we cannot identify from that public record who the underlying donor-adviser was. That's precisely one of the opacity features of DAFs: the recipient's record says Schwab Charitable, not necessarily the person or family whose DAF recommended the grant.

3. And then there is the Fisher Koch Family Foundation

This is the other major trail.

A grant database built from private-foundation 990-PF filings identifies a $27.4 million grant from the Fisher Koch Family Foundation to PatientRightsAdvocate.org, classified in 2021 and described simply as “SUPPORT THE ORGANIZATION.” (Granted AI)

The underlying Fisher Koch Foundation IRS record makes the scale plausible: for its fiscal year ending October 2021, it reported $28.30 million in charitable disbursements altogether. Its directors included Cynthia A. Fisher, Elizabeth F. Koch and Emily F. Koch. (ProPublica)

And a useful point about the name: this Fisher-Koch family connection is Cynthia Fisher and Boston Beer founder C. James “Jim” Koch, her spouse. An SEC filing identifies Fisher simultaneously as founder/chairman of PRA and spouse of Boston Beer founder C. James Koch. (SEC)

However, here is the accounting wrinkle. PRA itself reported only $21.36 million of contributions in calendar 2021, whereas the donor database attributes $27.4 million to Fisher Koch in the foundation's fiscal 2021. (ProPublica)

Those numbers do not reconcile as a simple same-year cash transfer. The foundation's fiscal year ends in October, PRA's ends in December, and there can be differences in payment versus recognition, grant installments, or database aggregation. I therefore would revise my earlier characterization slightly:

The public evidence strongly supports Fisher-family philanthropy as a major source of PRA's early capitalization, but I would not present “$27.4M received by PRA in calendar 2021” as an audited fact without inspecting the underlying grant schedule and accounting dates.

It may well span PRA's 2020 and 2021 receipt periods: PRA reported $8.53M plus $21.36M in contributions across those two calendar years, or $29.89M. But that is an observation about the numbers, not proof of how the Fisher Koch grant was booked. (ProPublica)

4. Where did PRA send its own grants?

Here the public record is remarkably complete. PRA reported 28 grants totaling $16.24 million from 2020 through 2024. The annual map is:

YearGrants paidMajor recipients
2020$53,500Independent Women's Voice $53.5K
2021$5.36MPower to the Patients $5.05M; 1065 Institute $250K; Independent Women's Forum $50K; American Research & Policy Institute $10K
2022$6.865MPower to the Patients $4.74M; 1065 Institute $1M; Families USA $500K; RAND $250K; IWF $250K; ALEC $50K; Johns Hopkins $45K; American Transparency $30K
2023$2.998MPower to the Patients $2.025M; Families USA $500K; AMAC Action $150K; Johns Hopkins $135K; One Fact Foundation $100K; U.S. PIRG Education Fund $87.5K
2024$960,850Bentley $250K; ALEC $230K; Brown $150K; U.S. PIRG $100.85K; America First Policy Institute $100K; Johns Hopkins $90K; Dollar For $20K; Young Americans for Liberty $10K; Power to the Patients $10K

These amounts are extracted from PRA's IRS Schedule I filings. (Inspiring Generosity)

There are two big conclusions.

5. Nearly three-quarters went to one organization: Power to the Patients

Across the five years, Power to the Patients received $11.825 million—about 73% of every dollar PRA granted to another organization.

And Power to the Patients is not an unrelated outside grantee.

Cynthia Fisher is its co-founder and chairman, while also being founder and chairman of PRA. The 2024 Power to the Patients 990 lists Cynthia Fisher as a board member and Linda Bent as treasurer; Bent is also president/board member of PRA. (SEC)

Power to the Patients was founded in 2021, exactly when the large PRA grants to it began. Its purpose is more overtly public-facing advocacy: the SEC biography describes it as generating public awareness about how upfront health prices can reduce costs and overcharges. (SEC)

So the organizational picture looks something like:

PRA = research, policy, legal work, transparency reports and advocacy
↓ approximately $11.8M
Power to the Patients = mass-market public-awareness/advocacy campaign

The organizations overlap substantially at the leadership level. That fact by itself says nothing improper about the grants, but it is important when describing where PRA's philanthropic capital went. This is much closer to funding a sister advocacy vehicle than to a conventional foundation making independent charitable grants.

6. The remaining grant portfolio is strikingly bipartisan

After Power to the Patients, PRA's grants are quite eclectic.

On one side are Families USA and U.S. PIRG. There are major academic/research organizations—RAND, Johns Hopkins, Brown and Bentley. And there is a substantial cluster of organizations more commonly associated with conservative or free-market policy advocacy—ALEC, Independent Women's Forum, Independent Women's Voice, AMAC Action, America First Policy Institute and Young Americans for Liberty. (Inspiring Generosity)

That fits PRA's own characterization of itself as nonpartisan and suggests something more interesting than an ordinary ideological funding network: price transparency has been deliberately built as a cross-partisan coalition issue. PRA has funded organizations from quite different parts of the political spectrum when they can carry the transparency message to different constituencies.

The $1 million to Families USA and $280,000 to ALEC are a nice illustration of how unusual that coalition is. (Inspiring Generosity)

7. PRA itself is not primarily a grantmaking pass-through

The $16.24M of grants is only about 30% of PRA's $54.72M cumulative contributions. The rest did not simply sit there or get re-granted.

The 2024 filing is particularly informative. PRA spent $12.1M that year, including roughly $4.5M in other professional/service fees, $2.6M in advertising and promotion, and $1.3M in legal fees, while direct grants were about $962K. Its largest listed contractors included Outdoor Solutions for public awareness, CRC Advisors for communications/public affairs, and Crowell & Moring for legal services. (Inspiring Generosity)

That is a useful lens on the AMA lawsuit. PRA has evolved into an organization spending serious money on communications, public campaigns and law, rather than simply commissioning academic reports about hospital prices.

What I think we can now say with confidence

The financial biography is becoming pretty clear.

PRA appears to have been created as a comparatively small Fisher-led advocacy organization, then very heavily capitalized beginning around 2020. Fisher-family philanthropy appears to have been a major component of that capitalization. In 2022, almost the entire year's $16.76M of contributions can be traced publicly to a single $16.5M grant routed through Schwab's donor-advised fund system, although the actual donor behind that DAF is not publicly identified.

PRA then deployed the capital in two ways. It built its own national research/legal/communications operation, and it re-granted $16.24M, nearly three-quarters of which went to the closely affiliated Power to the Patients public-awareness organization. The rest went to an unusually broad coalition spanning academic research institutions, mainstream consumer organizations, and conservative/free-market advocacy groups.

That makes PRA somewhat different from the image created by the phrase “patient advocacy group sues AMA.” It is better understood as a well-capitalized, founder-driven health-policy campaign organization with a deliberate research + litigation + media + coalition strategy.

And one unanswered question is now especially conspicuous: who recommended the $16.5 million Schwab DAF grant in 2022? The public tax record takes us right up to that door and then stops. If that donor could be independently identified, we would have a nearly complete financial origin story for PRA.

#

#

Viacord?

#

Yes—ViaCord was Cynthia Fisher’s original biotech company, and it explains where much of her healthcare-industry background came from.

She founded ViaCord in 1993 as an early private umbilical-cord-blood banking company. The business collected cord blood at birth, processed and cryopreserved the hematopoietic stem cells, and stored them for possible future therapeutic use. She served as founder and CEO. (ONC)

In 2000, Fisher co-founded ViaCell, a broader cellular-medicine company, and ViaCord became a division of ViaCell. ViaCell went public in 2005 and was acquired by PerkinElmer in 2007 for about $300 million, largely for the ViaCord business. (Wikipedia)

So Fisher was not simply a wealthy philanthropist who later became interested in healthcare policy. She was an actual healthcare entrepreneur, fairly early in the commercial stem-cell field. That history also makes her later emphasis on health-price transparency somewhat more intelligible: she had spent years inside a consumer-facing medical service business.

One small wrinkle: sources differ on whether ViaCord was technically founded in 1992 or 1993; Boston Beer’s current biography says 1992, while federal and other biographies say 1993. (The Boston Beer Company - IR Site)

And ViaCord still exists as a cord-blood banking brand, though it long ago ceased being Fisher's independent company. (National Park Foundation)

#

#
What is known about the law firm hired for this lawsuit of PRA vs AMA?

##

Yes. The law firm is quite notable, and the relationship with PRA substantially predates the AMA/CPT lawsuit.

The August 12 complaint is signed by Consovoy McCarthy PLLC of Arlington, Virginia: partners Jeffrey M. Harris and Cameron T. Norris, plus associates Ryan M. Proctor and Nicholas (Nick) Venable

This is a small, elite constitutional/appellate litigation boutique founded in 2014 by William Consovoy and Thomas McCarthy. Reuters has described it as a central player in the contemporary conservative legal movement. 

Its best-known achievement is probably representing Students for Fair Admissions in the successful Supreme Court cases ending race-conscious admissions at Harvard and UNC. 

They have also represented Donald Trump, the RNC, Republican officials and plaintiffs in other major constitutional and administrative-law cases. (Reuters)

The most important lawyer here appears to be Jeffrey Harris. He is not merely somebody brought in to devise the CPT lawsuit. Harris has worked with PatientRightsAdvocate.org since at least 2019. When the American Hospital Association sued to block the Trump administration's hospital price-transparency rule in December 2019, PRA was already putting Harris forward as its lawyer and spokesman. In 2020, Harris prepared and filed PRA's amicus briefs supporting HHS's transparency regulation in AHA v. Azar. (PatientRightsAdvocate.org)

So there is a seven-year PRA–Consovoy relationship, not a brand-new alliance.

Harris is an unusually credentialed regulatory litigator. 

  • He graduated from Harvard Law School, 
  • clerked for Chief Justice John Roberts 
  • and two D.C. Circuit judges.
  • He later served as the No. 2 official at the White House Office of Information and Regulatory Affairs (OIRA), the office that reviews major federal regulations. 
  • He has argued before the Supreme Court and eight federal circuits. (Consovoy McCarthy Park PLLC
  • Particularly relevant here, Harris has developed genuine health-policy specialization: in 2022 he published a 20-page article, “Using ERISA to Ensure Transparent Health Care Prices,” in the ABA Journal of Labor & Employment Law. (JSTOR)

Cameron Norris is another heavyweight. He is a partner, Vanderbilt Law graduate, former clerk to Justice Clarence Thomas, Judge William Pryor and Judge Karen Henderson. He has argued twice in the Supreme Court; one of those arguments was the Harvard affirmative-action case. His firm biography says he has represented states, prominent nonprofits, the Republican Party and the President of the United States. (Consovoy McCarthy Park PLLC)

Ryan Proctor is younger but comes from the same appellate pipeline: Yale, Harvard Law cum laude, editor-in-chief of the Harvard Journal of Law & Public Policy, followed by clerkships for Judges Joan Larsen and Gregory Katsas and then Justice Clarence Thomas. (Consovoy McCarthy Park PLLC)

Nick Venable is also academically unusual: Yale, a Ph.D. in Classics from Chicago, Stanford Law, and a clerkship with Sixth Circuit Chief Judge Jeffrey Sutton before appellate practice. (Consovoy McCarthy Park PLLC)

There is an even more revealing connection. Harris, Norris and Proctor are already representing PRA in the parallel AHA litigation over the UB-04 hospital billing manual. In that case, AHA sued PRA after PRA announced that it wanted to make the copyrighted UB-04 manual freely available—the same basic “privately copyrighted rules incorporated into mandatory healthcare billing” theory now being deployed against CPT. 

  • A May 2026 filing lists Harris, Norris and Proctor as PRA's counsel. (Litigation Tracker) Venable appears to have joined that core team for the new AMA case.

That changes how I would characterize the CPT lawsuit. It looks much less like PRA suddenly found a clever copyright theory and much more like an emerging litigation program. Consovoy McCarthy and PRA first spent years litigating and writing about healthcare price transparency; then PRA deliberately challenged the proprietary UB-04 billing manual; now the same lawyers have escalated the strategy to the vastly more consequential CPT system.

There is even a fascinating detail from the UB-04 case. AHA alleges that an associate at Consovoy McCarthy bought a copy of the UB-04 manual in July 2025 using a personal Gmail account, before PRA sent AHA its formal demand asserting the right to publish it. That allegation is AHA's—not an established fact—but it reinforces how deliberately this litigation strategy appears to have been developed. (CCH Business)

So I would describe the team as very serious Supreme Court-caliber conservative/public-law litigators with a longstanding relationship to PRA and a growing specialization in healthcare transparency. The ideological pedigree is unmistakably conservative, but the CPT suit itself is not conventional partisan litigation; its legal theories draw heavily on public-access, fair-use and “no one owns the law” precedents that have attracted support across ideological lines.

The particularly interesting discovery is that the AMA lawsuit is essentially the second installment of the UB-04 strategy, with nearly the identical legal team. That might deserve a paragraph in the blog, because it makes the CPT case look considerably less spontaneous—and considerably more strategic—than the news stories convey.