N-Power raises $32M to scale oncology trial network
What's the deal? N-Power Medicine has closed a $32 million Series B round to expand its community oncology network and build out its drug development products. The round drew new strategic investor LabcorpDealroom has a profile for this one. Try Dealroom → Venture Fund, alongside continued backing from Merck Global Health Innovation FundDealroom has a profile for this one. Try Dealroom →, Innovatus Capital PartnersDealroom has a profile for this one. Try Dealroom →, and a US-based biotech investor.
What's the endgame? The Redwood City company runs a national network of community oncology centres built around its Prospective External Control Arm (ProECA) product. ProECAs are trial-grade external control arms generated in routine care, cutting the patient enrolment, timelines, and costs of clinical trials while reducing reliance on randomisation.
Why now? N-Power's first ProECA, for non-small cell lung cancer, is live at more than 40 sites, with several pharma and biotech partners already using it. It plans to launch ProECAs for colorectal and prostate cancer later this year, and the new funds will support that scale-up and deeper pharma partnerships.
Labcorp's stake is the second strategic investment from a healthcare industry leader after Merck GHI. "N-Power's innovative approach has the potential to accelerate oncology drug development while expanding access to clinical research in community care settings," said Megann Vaughn Watters, managing director of Labcorp Venture Fund.
Chief executive officer Mark Lee said the model "creates value for drug developers, community oncologists, and cancer patients." He added that the financing "lets us scale and set a new standard for how oncology drug development gets done."
The signal: At $32 million, the round sits in roughly the 71st percentile for deals of its kind — a solid but not outsized raise. It reflects continued investor appetite for models that make cancer trials cheaper and faster while widening patient access to research.
Image credit: Generated with Gemini
