N-Power Medicine, a company focused on reinventing oncology drug development and community cancer care, has closed a $32 million Series B financing round. The investment includes new strategic investor Labcorp Venture Fund alongside continued participation from Merck Global Health Innovation Fund, Innovatus Capital Partners, and a leading U.S.-based biotech investor. Proceeds are expected to accelerate expansion of the company's community oncology research network, deepen pharmaceutical partnerships, and support product development.
Financing Details and Use of Proceeds
The financing round combines new strategic capital with continued support from existing investors. N-Power Medicine said the proceeds will be used to scale its community oncology research network and advance adoption of its Prospective External Control Arm platform. The company also plans to deepen pharmaceutical partnerships and continue investing in product development.
Strategic Validation from Industry Leaders
Labcorp Venture Fund's participation marks the second strategic investment from a healthcare industry leader, following Merck Global Health Innovation Fund. This backing further validates the company's model of integrating drug development with community cancer care. Through its venture fund, Labcorp invests in innovative technologies that advance more personalized, accessible, and data-driven healthcare.
Community Oncology Network Expansion
With the new capital, N-Power Medicine will continue scaling its national network of community oncology centers. The network is designed to bring clinical research and innovative therapies into the communities where patients live. This expansion is intended to give more oncologists and patients access to research opportunities while generating high-quality data for drug developers.
How ProECA Improves Trial Efficiency
N-Power's Prospective External Control Arm platform, known as ProECA, allows drug developers to generate standalone, prospective, trial-grade external control arms within routine care. The approach reduces reliance on randomized control arms and enables smaller, faster, and more efficient clinical trials. It also lowers patient enrollment requirements, shortens timelines, and reduces development costs while expanding opportunities for patients to participate in cancer research.
Lung Cancer Program Reaches 40 Sites
The first ProECA program, focused on non-small cell lung cancer, is operational at more than 40 community oncology sites across multiple large health systems. Several pharmaceutical and biotech partners use the program today to accelerate early development and Phase 4 initiatives. This early adoption demonstrates the platform's ability to support real-world drug development workflows.
Expansion into Colorectal and Prostate Cancers
N-Power Medicine plans to launch additional ProECA programs in colorectal cancer and prostate cancer later this year. These expansions will build on the company's existing lung cancer capabilities and extend its network's utility to a broader range of oncology indications. The upcoming programs are expected to attract further interest from drug developers seeking more efficient and cost-effective trial designs.
Executive Perspectives
Labcorp Venture Fund Managing Director Megann Vaughn Watters said N-Power Medicine's innovative approach can accelerate oncology drug development while expanding access to clinical research in community care. She noted the company is well positioned to broaden its impact for patients and providers. N-Power Co-Founder and Chief Executive Officer Mark Lee said the financing enables the company to scale and set a new standard for oncology drug development.
With the Series B funding in place, N-Power Medicine is positioned to strengthen its community oncology network and expand the use of prospective external control arms. The company's model aligns the interests of drug developers, community oncologists, and patients by embedding research into everyday cancer care. As new ProECA programs launch and partnerships deepen, N-Power Medicine aims to make oncology trials faster, more accessible, and more efficient.