A USD 3 million founding Series A investment led by New World Angels has been closed by Prana Thoracic, Inc. (“Prana” or the “Company”), a medical device startup creating the first minimally invasive lung tissue excision tool for early intervention in lung cancer. Johnson & Johnson Innovation – JJDC, Inc., Texas Medical Center Venture Fund, and Phase 1 Ventures of the University City Science Center joined New World Angels. The Series A funding will be utilized for product development and to support the Company’s first-in-human clinical research, together with a previously disclosed $3 million grant from the Cancer Prevention & Research Institute of Texas.

Joanna Nathan, CEO and co-founder of Prana, stated that their technology offers patients with lung nodules a definitive solution and enables doctors to get involved early in the lung cancer patient’s path. Our team is happy to have the backing of our investors and is eager to use this funding to hasten the arrival of our technology at the bedside.

Almost 25% of all cancer fatalities in the United States are caused by lung cancer, making it the most common type. Most lung cancers are discovered after the illness has progressed, reducing survival. Less than 5% of the more than 14 million Americans eligible for lung cancer screenings yearly receive one. Physicians can target lung nodules that are difficult to reach and adequately sample with the help of the Company’s ThoraCore System, which is minimally invasive and lung-sparing. This will provide a conclusive diagnosis that will significantly improve outcomes.

The Texas Medical Center facility is where Precision Thoracic Company and Prana collaborated to create their technologies.

Edward M. Boyle, MD, inventor and founder of Precision Thoracic Corporation, said, “We are so pleased to see this technology advance from the design and early testing phase to its new home at Prana and the important funding by the venture investors who share our passion for early diagnosis and treatment of lung cancer. “We are well placed to ready this for first in human usage,” Joanna Nathan said of the technology currently being developed at Prana.

“The innovative technology used by Prana was created on the TMC campus, and we are thrilled to continue helping Prana reach its next goal by providing investment from the TMC Venture Fund. They are developing technologies that might revolutionize how doctors find and treat lung cancer. Congrats to the team on this excellent news said Texas Medical Center President & CEO William McKeon.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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