A US medtech startup which aims to revolutionise lung cancer treatment via precision surgical solutions has seen its Series A funding round oversubscribed by 30 per cent, raising US$3m in the process.
Prana Thoracic is pioneering minimally invasive techniques for lung tissue excision to offer earlier and more precise interventions for those affected by lung cancer.
The firm has now raised US$9m, with medtech venture capital firm cultivate(MD), GenHenn Capital and Houston Angel Network among its latest backers
Alongside its prior lead investor New World Angels, existing investors include Johnson & Johnson Development Corp, Texas Medical Center Venture Fund, and the Cancer Prevention & Research Institute of Texas (CPRIT).
Joanna Nathan, CEO and co-founder of Prana Thoracic, said: “We are grateful for the overwhelming support from our investors in this financing round. Their confidence in our mission and plan is motivating.
“This additional funding will enable us to accelerate our efforts in bringing precision surgical solutions to lung cancer patients worldwide.”
Fellow director Edward M. Boyle said: “The team has made remarkable progress in developing this novel and minimally invasive technique for lung tissue excision, which has the potential to transform the diagnosis and treatment of early-stage lung cancer.
“Beyond lung applications, they are pioneering new methods to use this technology for other soft tissues and are actively exploring integration with ablation and robotic systems, aligning with the future direction of these fields.”
Prana Thoracic was founded with a vision to transform lung cancer intervention through precision surgical solutions.
Its aim is to enable “right-size interventions” for patients seeking earlier options in the management of their disease.
Its flagship product, the Prana System, is designed to enable image-guided, minimally invasive surgery, conserving healthy tissue and driving personalised treatment plans in a range of conditions including lung cancer.
“We are excited to support Prana Thoracic in their mission to improve lung cancer treatment.
“Their innovative approach has the potential to significantly impact patient outcomes,” said R. Sean Churchill, MD of cultivate (MD).
