N-Power Medicine Emerges with Series B Funding to Bolster Access to Innovative Oncology Clinical Trials
July 01 2024 - 8:00AM
Business Wire
• Series B led by Merck Global Health
Innovation Fund • First-of-its-kind integrated data platform
provides infrastructure support for both clinical trials and
routine patient management • 7,000 patients enrolled in Kaleido
Registry
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 US-based healthcare focused investor. 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.
“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."
N-Power Medicine was founded in 2021 to accelerate the drug
development process and expedite patients’ access to innovative
therapies. The company has developed a first-of-its-kind integrated
platform providing a single workflow for both clinical trial and
routine patient management. N-Power’s “human in the loop” model,
consisting of virtual and on-site staff assisted by AI-enabled
workflow automation, supports oncologists in generating
research-ready data for all patients in the practice and in
preparing standardized clinical documentation for the medical
record.
“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’s platform consists of three fundamental components:
- The Kaleido™ Registry collects prospective, real-time,
standardized patient data expressly designed to support clinical
trials and drug development. To date, over 7,000 patients have
consented and enrolled in the registry.
- The point of care technology enables seamless workflow
management and provides secure, timely access to patient data and
insights while ensuring compliance with regulatory requirements and
quality standards for prospective clinical research.
- On-site and virtual experts support oncologists and
research staff to operationalize the Registry and support clinical
documentation, while reducing their overall workload, allowing them
to focus on patient care and research.
With all patients participating in the Registry, standardized
data collection readily enables actionable insights for clinical
research, such as real-time, proactive identification of
trial-eligible patients as well as patient characteristics and
outcomes which inform trial design.
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.
"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 company 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.
For more information on N-Power Medicine, visit
www.npowermedicine.com and connect on LinkedIn.
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Ivha Enike-Ekhelar Health+Commerce
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