N-Power Medicine, a company reinventing the clinical trial process, announced the initial close of a Series B funding round, raising its total funding to date to $72 Million. The Series B round is led by Merck Global Health Innovation Fund, with participation by a leading US-based healthcare focused investor.
Read also – [Funding news] Spruce Power Holding Corporation Secures $130 Million in Debt Funding
The funds will support the expansion of the company’s network of oncology clinics and biopharmaceutical company collaborations leveraging N-Power’s unique platform for integrating clinical research into everyday patient care.
Read also – [Funding News] Synthpop Secures $5.6M Funding to Revolutionize AI-Driven Healthcare Solution
By partnering with oncologists, research staff, and patients to unlock the full potential of every patient’s data, N-Power Medicine is expanding access to clinical trials and enabling unprecedented insights for biopharmaceutical drug development.
“The average oncology drug takes 10 years to go from development to market, and eight of those years are typically spent in clinical trials. Today’s clinical trial paradigm is very inefficient at the centers that run trials and out of reach for the majority of oncologists and their patients in the community,” said Mark Lee, M.D., Ph.D, N-Power Co-Founder and Chief Executive Officer. “Our vision is to radically accelerate drug development timelines through a new model where every oncologist and cancer patient can readily participate in advancing drug development. In the end we believe this is what patients will benefit from most.”
“At the Merck Global Health Innovation Fund we are focused on partnering with innovative companies such as N-Power that facilitate and optimize biopharmaceutical operations with the goal of improving patient care,” said David M. Rubin, Ph.D., Managing Director, Merck Global Health Innovation Fund, “N-Power’s unique approach offers the important opportunity to expand clinical research to more oncologists and their patients through standardized data collection, actionable insights, and the time and resources to participate in a model of accelerated drug development.”
N-Power Medicine’s platform consists of three fundamental components: The Kaleido™ Registry, and The point of care technology, On-site and virtual experts
“N-Power is working to solve major challenges for oncologists: managing electronic medical records, finding patients for clinical trials, and reporting requirements for CMS,” said Barbara L. McAneny, MD, FASCO, MACP, founder and Chief Executive Officer of the New Mexico Cancer Center in Albuquerque and Gallup and Past President of the American Medical Association. “Using N-Power’s ‘superscribes’ enables cancer doctors to focus more on patients, as the N-Power Staff manages the chart and consents the patient to join the registry. The registry allows us to find the trial candidates and send the required reports. The collaboration has been valuable.”
About N-Power Medicine
N-Power Medicine is a clinical research and drug development platform company that aims to dramatically boost clinical trial participation to accelerate oncology drug development – and deliver on the promise of bringing life-saving innovation to cancer patients. Founded in 2021, the N-Power Medicine addresses critical challenges for oncology sites by integrating technology and trained personnel into routine care to unlock the full potential of the data needed to bring new therapies to patients sooner.
