N-Power Medicine has closed a $32 million Series B financing round to expand its community oncology research network and increase adoption of its Prospective External Control Arm, or ProECA, platform.
Labcorp Venture Fund joined the round as a new strategic investor. Existing investors Merck Global Health Innovation Fund and Innovatus Capital Partners also participated, alongside an undisclosed US-based biotech investor.
Founded in 2021, N-Power Medicine is a Redwood City, California-based oncology clinical research and drug development company led by co-founder and CEO Mark Lee. The company works with community oncology practices and biopharmaceutical companies to integrate clinical research into routine cancer care.
Its ProECA platform generates prospective external control arms using data collected from patients receiving standard-of-care treatment. The approach is designed to help drug developers reduce reliance on randomized control arms and conduct smaller and more efficient oncology studies.
N-Power said its non-small cell lung cancer ProECA is operating at more than 40 sites across its community oncology research network. Several pharmaceutical and biotechnology partners are using the program for early development and Phase 4 programs. The company plans to launch additional ProECA programs for colorectal and prostate cancer later in 2026.
The new capital will be used to scale N-Power’s community oncology network, deepen partnerships with pharmaceutical companies and continue product development. The company’s website states that it has raised more than $100 million to date.
