Prana Thoracic, a Houston-based medical tech company created with a vision to transform lung cancer intervention, announced the successful final closing of its Series A extension round. The company initially raised $3 million, received a non-dilutive grant of $3 million, and has now closed on an additional $3 million in oversubscribed funding.
This marks a major milestone in its journey to advance precision surgical solutions. And Prana Thoracic’s Series A extension round was oversubscribed by 30%, thus highlighting strong investor confidence and interest in the company’s innovative approach to lung cancer intervention.
This funding round was supported by new investors cultivate(MD), GenHenn Capital, and Houston Angel Network, with participation from prior lead investor New World Angels. Existing funders include Johnson & Johnson Development Corp, Texas Medical Center Venture Fund, and the Cancer Prevention & Research Institute of Texas (CPRIT).
The additional funding will be used to accelerate product development and enable Prana Thoracic to advance through its clinical and regulatory plans.
KEY QUOTES:
“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.”
- Joanna Nathan, Chief Executive Officer and Co-Founder of Prana Thoracic
“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.“
- Dr. R. Sean Churchill, Managing Director of cultivate(MD)
“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.”
- Edward M. Boyle, MD, Founder and Director
