Portal Access, an oncology-focused medical device startup, closed a $7 million Series A financing round.
The company said that more than 80% of the round was led by U.S. physician investors, including oncologists, interventional radiologists, cardiologists and vascular surgeons.
Additional investors include a partnership from an unnamed U.S.-based venture capital fund.
WHAT IT DOES
The company manufactures Flexi-Port SLF-TANL, a subcutaneous port developed to streamline vascular access for oncology patients.
The company will use the funds to support a 510(k) submission to the FDA for Flexi-Port SLF-TANL, which the company says is expected in July 2025, with a U.S. market launch scheduled for 2026.
In a statement, Portal said the Flexi-Port SLF-TANL device may help minimize treatment delays, procedural risks and total healthcare costs.
“Closing this funding round represents an important milestone as we work toward regulatory approval,” Michael Tal, founder and CEO of PorTal Access, said in a statement.
“Flexi-Port SLF-TANL is engineered with a focus on simplicity, stability and scalability, likely to support more efficient workflows in oncology access settings. It’s a solution for both clinicians and patients and created with the most optimal patient outcome and experience in mind.”
MARKET SNAPSHOT
Other companies in the oncology space include Atropos Health, which in April announced a strategic partnership with Ontada, a McKesson business involved in community oncology. Ontada is connected to The US Oncology Network, which delivers real-time data, insights and research on how cancer is treated in a community.
Also in April, ConcertAI announced a multiyear agreement with pharmaceutical and biotechnology giant Bayer to use ConcertAI’s Translational360 and AI SaaS offerings.
The offerings employ AI and machine learning insights to expedite clinical development in precision oncology.
The agreement aims to use ConcertAI’s Translational360 offering, an integrated, research-level, longitudinal clinical molecular database that harnesses the CancerLinQ network of anonymized cancer patient data from more than 9 million records across all 50 states.
In March, Flatiron Health collaborated with NRG Oncology, a clinical research consortium within the National Cancer Institute’s National Clinical Trials Network, which has more than 1,300 research sites worldwide, to deploy Flatiron Clinical Pipe in a multicenter NRG clinical trial.
Flatiron Clinical Pipe is an electronic health record (EHR) to electronic data capture (EDC) connector aimed at enhancing efficiency and reducing the time and effort required for clinical study data entry.
The collaboration aimed to broaden the use cases of Flatiron Clinical Pipe to include NCTN-sponsored studies by applying Flatiron’s EHR-to-EDC technology to reduce the burden on NRG clinical trial site teams, ease data management and speed up study timelines.
Credit: Source link
