mPATH Health, a digital health company dedicated to improving cancer screening, announced the closing of $3 million in funding. This funding will accelerate the company’s mission to enhance cancer prevention and improve health equity. This funding round includes a $2 million Small Business Technology Grant from the National Cancer Institute (NCI) and a $1 million equity investment led by Oncology Ventures, an oncology-focused venture capital firm.
The NCI grant, awarded in July 2024, will support the continued commercialization of mPATH’s groundbreaking cancer screening program. This program has demonstrated the ability to double screening rates across diverse populations, regardless of race, ethnicity, income, or literacy level. This grant will facilitate additional development and rigorous clinical testing of mPATH’s program.
The $1 million from Oncology Ventures will enable mPATH to accelerate its growth and outreach efforts, enabling for the development of additional screening and preventive health modules. And Oncology Ventures seeks to invest in and support companies improving cancer care access and outcomes, while reducing costs.
Through a commitment to health equity, mPATH is excited to showcase how its platform improves outcomes for all patients, regardless of their background. This funding marks a pivotal moment in mPATH’s journey to redefine cancer prevention and save lives.
KEY QUOTES:
“We are incredibly proud of the recognition from the NCI and the investment from Oncology Ventures. This $3 million funding will allow us to rapidly expand our reach, increase cancer screenings, and ultimately save lives. It will also enhance our program and ensure that we can document its return on investment for health systems and insurers.”
– Dr. David Miller, co-founder of mPATH
“Oncology Ventures is proud to lead mPATH’s Seed Financing and support Dr. Dave Miller, Dr. Ajay Dharod, and their team as they bring much-needed preventive care to populations who need support. mPATH aims to empower patients by identifying, educating, and ensuring timely access to relevant screenings.”
“Every one-month delay in cancer treatment results in a 10% increase in mortality and treating metastatic cancer costs twice as much as treating localized cancer. By improving access to screening, mPATH is well positioned to significantly enhance cancer care outcomes at scale.”
– Oncology Ventures Founder Ben Freeberg
