Prana Thoracic Completes Series A Extension of $3 Million in Oversubscribed Round, Bringing Total Funding to $9 Million

HOUSTON--(BUSINESS WIRE)--Prana Thoracic, a Houston-based medtech startup, founded with a vision to transform lung cancer intervention, proudly announces the successful final closing of its Series A extension round. The company initially raised $3M, received a non-dilutive grant of $3M, and has now closed on an additional $3M in oversubscribed funding. This marks a significant milestone in its journey to advance precision surgical solutions.

Prana Thoracic's Series A extension round was oversubscribed by 30%, highlighting strong investor confidence and interest in the company's innovative approach to lung cancer intervention.

"We are grateful for the overwhelming support from our investors in this financing round. Their confidence in our mission and plan is motivating,” said Joanna Nathan, Chief Executive Officer and Co-Founder of Prana Thoracic. “This additional funding will enable us to accelerate our efforts in bringing precision surgical solutions to lung cancer patients worldwide.”

The 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).

"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 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," said Edward M. Boyle, MD, Founder and Director. "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."

The additional funds will be used to accelerate product development and enable Prana Thoracic to advance through its clinical and regulatory plans.

About Prana Thoracic

Prana Thoracic was founded with a vision to transform lung cancer intervention through precision surgical solutions. We aim to right-size interventions for those patients seeking earlier options in the management of their disease. Our flagship product, the Prana System, has been meticulously designed to enable image-guided, minimally invasive surgery, conserving healthy tissue and driving personalized treatment plans in a range of conditions including lung cancer. Our team of leading surgeons, engineers, and entrepreneurs is obsessed with developing technologies that raise the bar for physicians and patients alike.

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www.pranathoracic.com