Houston medtech startup secures additional $3M for lung cancer diagnostic tool

fresh funding

Prana Thoracic Inc., a Houston medical device company developing a tool for early interception of lung cancer, announced an additional $3 million in funding. Photo via Getty Images

A Houston-based medtech startup with an innovative tool that's aiming to transform lung cancer intervention has closed its series A extension round.

Prana Thoracic announced an additional $3 million in funding, a raise that was oversubscribed by 30 percent, reports the company. The company's series A originally closed in March 2023 at $3 million. In August of 2022, the company secured $3 million in grant funding.

"We are grateful for the overwhelming support from our investors in this financing round. Their confidence in our mission and plan is motivating,” Joanna Nathan, CEO and co-founder of Prana Thoracic, says in a news release. “This additional funding will enable us to accelerate our efforts in bringing precision surgical solutions to lung cancer patients worldwide.”

The extension included participation from new investors, including cultivate(MD), GenHenn Capital, and Houston Angel Network, as well as from prior lead investor New World Angels. Existing investors — Johnson & Johnson Development Corp, Texas Medical Center Venture Fund, and the Cancer Prevention & Research Institute of Texas (CPRIT) — also support the company.

"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," says Dr. R. Sean Churchill, managing director of cultivate(MD), in the release.

The additional funding will support the company as it advances through its clinical and regulatory plans.

“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," adds Dr. Edward M. Boyle, founder and director at the company. "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."

In 2022, Nathan joined the Houston Innovators Podcast to discuss her passion for Prana Thoracic's innovation. Listen to the episode below.

From Your Site Articles
This week's roundup of Houston innovators includes Joanna Nathan of Prana Thoracic, Alfredo Arvide of Cloche, and Susan Davenport of the Greater Houston Partnership. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from health tech to mobile ordering — recently making headlines in Houston innovation.

Joanna Nathan, CEO, and co-founder of Prana Thoracic

Prana Thoracic, an innovative startup in the lung cancer diagnostics space, has raised its series A round of investment. Photo via LinkedIn

Joanna Nathan has been busy. It's been just under six months since the launch of her company, Prana Thoracic, a Houston health tech startup tackling lung cancer diagnostics, and the company has already secured its next round of investment funding. A medical device company developing a tool for early interception of lung cancer, the company announced last week that it closed a $3 million series A financing round.

In August, the company received a $3 million award from the Cancer Prevention & Research Institute of Texas. All of Prana Thoracic's funding is being used to develop the unique diagnostic product and the company's path to first-in-human clinical studies.

“Our technology provides a definitive answer to patients with lung nodules and allows physicians to intervene earlier in the lung cancer patient’s journey,” says Joanna Nathan, CEO, and co-founder of Prana, in a news release. “Our team is grateful to have the support of our investors and excited to leverage this financing to accelerate our technology to the bedside.” Read more.

Alfredo Arvide, co-founder and managing director of Cloche

This new restaurant technology allows for eateries to upgrade to mobile ordering for no cost. Photo courtesy of Cloche

A new mobile software platform has launched in Houston and is currently looking for restaurants interested in utilizing their technology to upgrade their eatery with mobile ordering at no cost to the restaurant.

Alfredo Arvide, co-founder and managing director of Cloche, tells InnovationMap that the idea for the platform came after the pandemic forced restaurateurs to quickly pivot to touch-free menus. Now that the consumer has adapted to scanning QR codes to view menus, the next step is to optimize ordering — something that will also help with the labor shortages that restaurants are now facing.

"Now is the time transform this industry by creating a better meal experience for the consumers, an easier job for the restaurant staff and a more efficient, more profitable business for restaurant owners," Arvide says. Read more.Read more.

Susan Davenport, senior vice president and chief economic development officer for the Greater Houston Partnership

The Greater Houston Partnership's Susan Davenport shares details on Houston House at SXSW, HETI House at CERAWeek, and taking the city on tour to spread awareness of the ecosystem. Photo via houston.org

Every year, one of the biggest tech conferences in the world convenes right down the road from Houston in downtown Austin. That's a huge opportunity for the Greater Houston Partnership to showcase and congregate Housto's tech innovators.

Susan Davenport, senior vice president and chief economic development officer for the Greater Houston Partnership, shares on the Houston Innovators Podcast how the GHP has made an effort to increase Houston's presence at SXSW over the past few years. This year, the third year for Houston House, the GHP and the Houston Energy Transition Initiative are convening over 20 Houston innovators for two days of programming.

"We want to further the development of our ecosystem," Davenport says on the podcast. "Houston is so uniquely place for this — we have such well-developed industry sectors and a customer base. ... All entrepreneurs want to showcase their products and talk about what their doing. We'll have people there to answer questions and, most importantly, invite them to Houston." Read more and listen to the episode.

Prana Thoracic, an innovative startup in the lung cancer diagnostics space, has raised its series A round of investment. Photo via LinkedIn

Houston health tech company closes $3M series A

money moves

It's been just under six months since the launch of Prana Thoracic, a Houston health tech startup tackling lung cancer diagnostics, and the company has already secured its next round of investment funding.

Prana Thoracic, a medical device company developing a tool for early interception of lung cancer, announced last week that it closed a $3 million series A financing round led by Florida-based New World Angels with participation from Johnson & Johnson Innovation – JJDC, Inc., Texas Medical Center Venture Fund, and the University City Science Center’s Phase 1 Ventures.

In August, the company received a $3 million award from the Cancer Prevention & Research Institute of Texas. All of Prana Thoracic's funding is being used to develop the unique diagnostic product and the company's path to first-in-human clinical studies.

“Our technology provides a definitive answer to patients with lung nodules and allows physicians to intervene earlier in the lung cancer patient’s journey,” says Joanna Nathan, CEO, and co-founder of Prana, in a news release. “Our team is grateful to have the support of our investors and excited to leverage this financing to accelerate our technology to the bedside.”

The company's technology is a minimally invasive, tissue-sparing nodulectomy tool that can evaluate suspicious pulmonary nodules early on in hopes of being able to catch and treat patients with lung cancer. The tool's development originated on the grounds of the Texas Medical Center in collaboration with Precision Thoracic Corp.

“Prana’s cutting-edge technology was developed on the TMC campus, and we are excited to continue to support Prana in meeting its next milestone through funding from the TMC Venture Fund. The technology they are spearheading could be a game changer in how physicians detect and treat lung cancer. Congratulations to the team on this exciting announcement,” says William McKeon, president and CEO of the Texas Medical Center, in the release.

Micheal Haimour, director of New World Angels, has joined Prana as a board member.

“We are delighted to support CEO Joanna Nathan and her team at Prana as they seek to develop solutions for the early detection and intervention of lung cancer,” he says in the release

Since the company emerged from stealth last summer, Prana has added a few feathers to its cap as a startup. In November, Nathan pitched and won first place at Ignite Healthcare Network’s annual Fire Pitch Competition. Prana was also named a finalist in the Female-Founded Businesses category of the Houston Innovation Awards. Currently, Prana is a member of the Spring 2023 cohort of the TMCi HealthTech Accelerator.

Three female-founded health tech startups won awards at this year's Ignite Healthcare's Fire Pitch Competition. Photo courtesy of Ignite

Houston health tech startup wins female-focused pitch competition

women in health care

For the fourth year, a Houston-based, female-focused health tech organization has spotlighted the industry's emerging technology entrepreneurs.

Earlier this month, Ignite Healthcare Network’s Accelerator Program hosted its seven women-led digital health startup finalists, narrowed down from over 330 startups, at its annual Fire Pitch Competition. The nonprofit is led by a group of women executives committed to shaping the future of health care.

“The fourth year of Ignite Health’s Accelerator Program has proved to attract more and more women founders of digital tech and med device startups from around the world,” says Ayse McCracken, Ignite's founder, in a news release.

According to McCracken, 22 applicants made it into the program, which launched earlier this year. A group of judges narrowed down that group to seven finalists, before announcing the top three companies for the competition.

Joanna Nathan, CEO of Houston-based Prana Thoracic, won the top award for her company. Stephanie Gravenor, founder of Denver-based Medecipher, and Liane Clamen, founder of Chestnut Hill, Massachusetts-based Adaptilens, won second and third, respectively.

The event doled out over $500,000 in total. Jay Goss, general partner of Wavemaker Three-Sixty Health, announced $100,000 investments into four finalists' companies. The finalists receiving this award are:

  • Pamela Bonnett, CEO of Denver-based Ultrasound AI
  • Christine Lum Lung, co-founder and CEO of Fort Collins, Colorado-based Origin Healthcare
  • Pamela Singh, co-founder and CEO of Houston-based CaseCTRL
  • Stephanie Gravenor, founder and CEO of Denver-based Medecipher

The partner organizations participating in this year's accelerator and event included Houston Methodist, Memorial Hermann Health System, Texas Children’s Hospital, Texas Children’s Pediatrics, The Menninger Clinic, HCA, Kindred Healthcare, Aetna, Texas Health Resources, Cook Children’s Hospital, TMC, Golden Seeds, Wavemaker 360 Health, Portfolia, Prosalus, 7Wire, Texas Halo Fund, Unity Point Ventures, and others.

“We are grateful for the support and generosity of our sponsors for helping to make this event possible,” says Cheryl Stavins, Ignite board member and co-chair of the event, in the news release. “Their support and involvement continue to ignite our mission and passion to ensure the success and recognition of women entrepreneurs in healthcare.”

Earlier in the day, Ignite Health hosted a new event called “Women Shaping the Future of Healthcare Luncheon." Eighty female executives, investors, founders, and community leaders gathered to hear from three of Ignite Health’s alumni founders: Somer Baburek, CEO of Hera Biotech, Dr. Liz Clayborne, CEO of Nasaclip, and Amanda Gorman, chief clinical officer of Nest Collaborative.

The five finalists in the BIPOC and Female-Founded Business categories for the Houston Innovation Awards share the challenges they have had to overcome. Photos courtesy

Overheard: Houston-based BIPOC, female founder finalists of 2022 share challenges overcome

eavesdropping at the houston innovation awards gala

Houston is often lauded as one of the most diverse cities in America, and that diversity is seen across its business communities as well, which includes its innovation ecosystem.

Some of the BIPOC-Founded and Female-Founded Business category finalists from the Houston Innovation Awards Gala, which will be held on November 9, shared some of the challenges they faced being in the minority of their industries and careers.

"The biggest challenge I've faced as a female BIPOC founder is having to work 2 to 4 times harder to convince individuals that I am an expert in my field, and that I know what I'm talking about when it comes to my technology and implementation."

Photo courtesy

— Asma Mirza, CEO and co-founder of Steradian Technologies. "The way I overcame it was by showing irrefutable data to support my expertise and our invention, as well as hiring a diverse team that could substantiate our claims," she adds.

"As a female founder, I used to think that I was looked at as 'less than,' compared to my male counterparts. While I still struggle with this feeling,...  I decided that the biggest hinderance in my confidence as a female founder was the lies that I was telling myself."

Photo courtesy

— Megan Eddings, founder of Accel Unite. "I felt — and still sometimes do — insecure in a room filled with male founders, not because I thought I was any less-than, but because I was thinking they thought I was less-than — before ever even meeting me," Eddings added, sharing how she tries to change her own perspective. "I now feel a responsibility to share my story, as to show other women that they are not alone, their voice matters and to keep going."

"As a BIPOC founder, it was not easy in the beginning to find the connections and network with folks that had the resources to help us with our aspirations. That was the biggest challenge in getting started."

Photo courtesy

— Enrique Carro, CEO of Blue People. "Now that we have a few clients and testimonials, we are able to pull on them to help us find new clients and connections," he continues. "But this was something that we had to really work hard on at the beginning."

"One of my fears going into the fundraising process was being seen as too weak or too fragile to lead an early-stage venture."

Photo courtesy

— Joanna Nathan, CEO of Prana Thoracic, who shares she feels this way following the loss of her son. "I found that in being transparent with potential investors, after building some trust, and speaking openly about my loss and how it has inspired me to build this company, I was able to overcome this fear."

"The biggest challenge I’ve faced as a female founder comes down to resources. Finding the capital and time to get everything done is difficult for female founders because we have a lot on our shoulders and there are systemic inequalities that make things even more difficult."

Photo courtesy

— Allie Danziger, founder and CEO of Ampersand. "I’m creating a billion dollar company, but I’m a mom of two young girls, the executive director of one nonprofit and a board member of another, and a dependable friend, wife, daughter, sister and niece, too," she continues. "Other female founders and VCs are stretched, too, so it can be difficult to connect and find time to figure it out together. I have been very fortunate and also worked really hard to find both the time and resources to make it all work."

This week's roundup of Houston innovators includes Joanna Nathan of Prana Thoracic, James Rees of BWT, and Aimee Gardner of SurgWise. Photos courtesy

3 Houston innovators to know this week

Who's who

Editor's note: In this week's roundup of Houston innovators to know — a special Labor Day edition, I'm introducing you to three local innovators across industries — from human resources to medical devices — recently making headlines in Houston innovation.

Joanna Nathan, CEO and founder of Prana Thoracic

Joanna Nathan joins the Houston Innovators Podcast and explains why she's taken on leading a medical device startup. Photo courtesy of Joanna Nathan

If there was a Houston innovation ecosystem playing card, Joanna Nathan would definitely have BINGO by now. From starting a startup while a student at Rice University and being an early hire of medical device company Saranas to leading investment at Johnson & Johnson's Center for Device Innovation, Nathan is headed back to the founder seat with Prana Thoracic, a new company planning to equip physicians with a better tool for lung cancer intervention.

"Unlike breast, prostate, and other types of cancers, we historically have not actively screened for lung cancer," Nathan says on this week's Houston Innovation Podcast. "Screening has only just begun in this world, and because of that, physicians still need the right tools to take early screening information and turn it into early intervention."

Last month, Nathan, who serves as CEO of the company, and Prana announced that Nucore Medical Inc., its wholly owned subsidiary, has been awarded a $3 million grant from CPRIT. Click here to read more and stream the podcast episode.

James Rees, chief impact officer at Botanic Water Technologies

James Rees is the Houston-based chief impact officer at BWT. Photo via LinkedIn

This probably isn't breaking news, but the world is on the midst of a water crisis. More than 2 million Americans don’t have access to clean drinking water, according to one study by the U.S. Water Alliance group.

To help close that water gap, international firm, Botanical Water Technologies, has plans to expand its presence in the United States with the Houston region being a strategic area to roll out the implementation of a patented water filtration technology. In addition, the group is launching a blockchain enabled trading platform with Fujitsu to help support the business.

“Water is finite,” says Houston-based James Rees, chief impact officer at BWT. “Due to global growth and climate conditions, we are going to have between 20 to 30 percent less water available to us by 2025. Communities are facing issues with water infrastructure. Some communities don't have water. This is where BWT plans to come in to help.” Click here to read more.Click here to read more.

Aimee Gardner, CEO and co-founder of SurgWise

Aimee Gardner is the CEO and president of Houston-based SurgeWise. Photo via surgwise.com

Over the course of the summer, Aimee Gardner has been writing strategic columns for startups with hiring tips. Her articles have focused on scaling quickly, why not to just trust your gut when hiring, and attracting and retaining a diverse workforce.

Gardner's advice is especially keen since she herself is a startup founder — but also has a Master's degree in organizational psychology. For years, she's been advising both her clients at her company SurgWise Consulting, but also students at Baylor College of Medicine.

"If your startup has gotten to the point of being able to grow the team, it is clear that ample vision, strategy, and innovation has been dedicated to the mission up until this point. Hiring in the next round of team members is not a process that should undergo any less dedication," she writes in one of her articles. "Ensuring that those around you share your vision, goals, and have a complementary set of skills and attributes will be critical to ensure success in your company’s growth and achievements." Click here to read her guest columns,

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

State-of-the-art innovation hub opens in Houston Energy Corridor

flagship facility

French multinational company Schneider Electric has opened a new 10,500-square-foot, state-of-the-art Energy Innovation Center in Houston.

The new facility is located in Houston’s Energy Corridor and is designed to “foster increased collaboration and technological advancements across the entire value chain,” according to a news release from the company. The new Houston location joins Schneider's existing innovation hubs in Paris, Singapore and Bangalore.

The venue will serve as a training center for process control engineers, production superintendents, manufacturing managers, technical leads and plant operations personnel. It can simulate various real-world scenarios in refineries, combined-cycle power plants, ethylene plants, recovery boilers and chemical reactors.

It includes an interactive control room and artificial Intelligence applications that “highlight the future of industrial automation,” according to the release.

"Digitalization is significantly enhancing the global competitiveness of the U.S. through continuous innovation and increased investment into next-generation technology," Aamir Paul, Schneider Electric's President of North America Operations, said in the release.

Texas has over 4,100 Schneider Electric employees, the most among U.S. states, and has facilities in El Paso, the Dallas-Fort Worth metroplex and other areas.

"This flagship facility in the Energy Capital of the World underscores our commitment to driving the future of software-defined automation for our customers in Houston and beyond,” Paul added in the release. “With this announcement, we are excited to continue supporting the nation's ambitions around competitive, efficient and cost-effective manufacturing."

Schneider Electric says the new Houston facility is part of its expansion plans in the U.S. The company plans to invest over $700 million in its U.S. operations through 2027, which also includes an expansion at its El Paso campus.

The company also announced plans to invest in solar and battery storage systems developed, built, and operated by Houston-based ENGIE North America last year. Read more here.

---

This story first appeared on our sister site, EnergyCapitalHTX.com.

9 can't-miss Houston business and innovation events for April

where to be

Two new conferences will launch while another longtime business competition celebrates its 25th anniversary this month in Houston. Plus, there are networking opportunities, family tech events and more.

Here are the Houston business and innovation events you can't miss in April and how to register. Please note: this article might be updated to add more events.

​Ion Block Party: Art Crawl

Network and socialize with other tech enthusiasts and business-minded individuals while taking in the new gallery at Community Artists’ Collective and experiencing the immersive dome at Omnispace360. See work by Joel Zika, who will showcase his digital sculptures through augmented reality screens, and other public art around the Ion while also enjoying food and drink.

This event is Thursday, April 3, from 4-7 p.m. at the Ion. Click here to register.

​CLA Presents: Raising Capital over Happy Hour

Gain a better understanding of the capital-raising process and various funding opportunities at this educational happy hour. Keith Davidson, the market leader for CLA in Dallas and former CFO of ICS, will present.

This event is Thursday, April 10, from 4-6 p.m. at The Cannon. Click here to register.

Rice Business Plan Competition 

The Rice Alliance for Technology and Entrepreneurship will host the 25th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event is April 10-12. Stream the Elevator Pitch Competition and Final Round here.

RSVF Annual Conference

The Rice Student Venture Fund will host its first-ever Annual Conference to celebrate the university's entrepreneurial spirit and the rising generation of student-led innovation. The conference will include live startup demos, an RSVF fund update, a keynote fireside chat, a builder-investor panel and networking. RSVF welcomes students, alumni, investors, faculty and staff, and innovators and community members of the broader tech scene.

This event is Monday, April 14, from 4-8 p.m. at the Ion. Click here to register.

​TEX-E Conference

TEX-E will host its inaugural conference this month under the theme "Energy & Entrepreneurship: Navigating the Future of Climate Tech." The half-day conference will feature a keynote from Artemis Energy Partners CEO Bobby Tudor as well as panels with other energy and tech leaders from NRG, Microsoft, GE Vernova and TEB Tech.

This event is Tuesday, April 15, from 1-4:30 p.m. at the Ion. Click here to register.

Houston Methodist Leadership Speaker Series 

Hear from Dr. Jonathan Rogg, Chief Quality Officer and Vice President of Operations at Houston Methodist Hospital and a a practicing emergency medicine physician, at the latest Houston Methodist Leadership Speaker Series. Rogg will present "Leadership from the Bedside to the Boardroom."

This event is on Wednesday, April 23, from 4:45-6 p.m. at the Ion. Click here to register.

Ion Family STEAM Day– Let's Build a Tripwire Alarm

STEAM on Demand will host a hands-on, family-friendly engineering lesson for young ones on the Ion Forum Stairs. Kids will learn to create and test their own working alarm system. The event is geared toward those ages 7 to 14.

This event is Sunday, April 26, from 10 a.m. to noon at the Ion. Click here to register.

 Greentown Houston Fourth Anniversary Transition On Tap

Climatetech incubator Greentown Labs will celebrate its fourth anniversary with a special edition of its signature networking event, Transition On Tap. Entrepreneurs, investors, students, and friends of climatetech are invited to attend.

This event is Tuesday, April 29, from 5:30-7:30 p.m. at Greentown Labs. Click here to register.

Integrate Space Technology Into Your Small Biz

The SBA Houston District Office and the UH Technology Bridge will host a collaborative event designed to help small businesses leverage space technology for prototype development. Attendees will also hear from industry experts on resources and gain access free technical engineering assistance to help accelerate their businesses.

This event is Wednesday, April 30, from 9:30-11:30 a.m. at UH Technology Bridge Innovation Center. Click here to reserve your spot.

Texas university's innovative 'WaterHub' will dramatically reduce usage by 40%

Sustainable Move

A major advancement in sustainability is coming to one Texas university. A new UT WaterHub at the University of Texas at Austin will be the largest facility of its kind in the U.S. and will transform how the university manages its water resources.

It's designed to work with natural processes instead of against them for water savings of an estimated 40 percent. It's slated for completion in late 2027.

The university has had an active water recovery program since the 1980s. Still, water is becoming an increasing concern in Austin. According to Texas Living Waters, a coalition of conservation groups, Texas loses enough water annually to fill Lady Bird Lake roughly 89 times over.

As Austin continues to expand and face water shortages, the region's water supply faces increased pressure. The UT WaterHub plans to address this challenge by recycling water for campus energy operations, helping preserve water resources for both the university and local communities.

The 9,600-square-foot water treatment facility will use an innovative filtration approach. To reduce reliance on expensive machinery and chemicals, the system uses plants to naturally filter water and gravity to pull it in the direction it needs to go. Used water will be gathered from a new collection point near the Darrell K Royal Texas Memorial Stadium and transported to the WaterHub, located in the heart of the engineering district. The facility's design includes a greenhouse viewable to the public, serving as an interactive learning space.

Beyond water conservation, the facility is designed to protect the university against extreme weather events like winter storms. This new initiative will create a reliable backup water supply while decreasing university water usage, and will even reduce wastewater sent to the city by up to 70 percent.

H2O Innovation, UT’s collaborator in this project, specializes in water solutions, helping organizations manage their water efficiently.

"By combining cutting-edge technology with our innovative financing approach, we’re making it easier for organizations to adopt sustainable water practices that benefit both their bottom line and the environment, paving a step forward in water positivity,” said H2O Innovation president and CEO Frédéric Dugré in a press release.

The university expects significant cost savings with this project, since it won't have to spend as much on buying water from the city or paying fees to dispose of used water. Over the next several years, this could add up to millions of dollars.

---

A version of this story originally appeared on our sister site, CultureMap Austin.

View All Listings