Prana Thoracic, a medical device company focused on developing the first minimally invasive lung tissue excision tool for early intervention in lung cancer, has announced the closing of a $3 million funding Series A financing led by New World Angels.
Other investors include Johnson & Johnson Innovation – JJDC, Inc., Texas Medical Center Venture Fund, and the University City Science Center’s Phase 1 Ventures.
The funds raised, along with a previously announced $3 million award from the Cancer Prevention & Research Institute of Texas, will be used for product development and to support the Company’s first-in-human clinical studies.
Prana’s ThoraCore System is minimally invasive and lung-sparing, allowing physicians to target lung nodules that are challenging to reach and accurately sample, facilitating definitive diagnosis to improve outcomes for patients with lung cancer. Lung cancer is the leading cause of cancer death in the U.S., making up almost 25% of all cancer deaths.