#USA #San Francisco #Cervical Cancer #Teal Health #Teal Wand

Teal Health Raises $10 Million for At-Home Cervical Cancer Screening

Teal Health, a pioneering women's health company, is making waves in the medical community as it recently secured an additional $10 million in seed funding to propel its innovative product, the Teal Wand™, towards market launch. This latest investment brings the total funding raised by the company to $23 million, a figure that highlights the significant financial backing and belief in their mission to eliminate cervical cancer in the U.S.

The Teal Wand™, which is currently undergoing FDA review, is set to be the first FDA-approved at-home cervical cancer screening device available in the U.S. This initiative aims to make cervical cancer screening more accessible and comfortable for women, addressing the concerning statistic that nearly 25% of women and individuals with a cervix do not undergo regular screenings due to discomfort and lack of access to traditional healthcare.

The funding round, notably led by Emerson Collective and Forerunner, has garnered ongoing support from investors such as Serena Ventures and Metrodora, with new partnerships like Labcorp entering the fold. The hefty investment reflects the growing recognition of the importance of women's health innovations and the pressing need for effective screening solutions.

Teal Health has made significant strides recently, including securing a $1.68 million Small Business Innovation Research (SBIR) grant from the National Cancer Institute. Additionally, the FDA granted the device Breakthrough Device Designation, facilitating its expedited review process. These accolades not only reinforce the potential impact of the Teal Wand™ but also position the company favorably as it prepares for an impactful market entry.

The objective behind the creation of the Teal Wand™ is straightforward but critical—cervical cancer should be detectable and treatable if caught early. However, many women avoid traditional screening methods due to discomfort associated with invasive exams. With Teal Health's solution, patients can perform the screening from the comfort of their homes, using a self-collection method akin to the more established clinical approaches.

In fact, recent clinical studies conducted by Teal Health indicate a remarkable preference for at-home screening among women, with 94% of participants expressing a clear inclination towards this method over conventional in-clinic screenings. This statistic underscores the vast potential the Teal Wand™ could have in boosting screening rates among underserved populations—furthering Teal Health's mission.

Nicole Johnson, a partner at Forerunner, expressed enthusiasm over leading the investment, noting the alarming gap in healthcare experiences tailored for women's needs. She stated, "Many healthcare experiences are not built with the end consumer as the primary customer. This feels especially true for women's health... making cervical cancer screens remarkably more comfortable and convenient."

Furthermore, the United States Preventive Services Task Force (USPSTF) has included recommendations encouraging self-collection for HPV testing in their recent draft guidelines, emphasizing its role in increasing adherence and the accuracy of screening among women. The Teal Wand™ will utilize self-collected HPV samples, which studies have shown to be comparable in accuracy to clinician-collected samples. This methodology particularly benefits historically underserved communities, who have faced barriers to accessing routine care.

Kara Egan, CEO of Teal Health, spoke about the implications of the funding, stating, "This investment allows us to bring Teal Health's vision to life, getting our transformational screening solution into the hands of women. We're here to create a new path forward, enabling women to take control of their health with confidence and ease."

In a commendable initiative tied to Cervical Cancer Awareness Month, Teal Health has pledged to donate $1 to the American Cancer Society for every individual who commits to screening throughout January. This campaign reflects the company's commitment to not only enhancing healthcare accessibility but also raising awareness and education about cervical cancer.

As Teal Health approaches the launch of the Teal Wand™, it stands poised to reshape the landscape of cervical cancer screening. The company's efforts not only aim to break down barriers to care but strive to affirm women's autonomy over their health. With continued support from investors and advocates across the healthcare community, Teal Health is set to make significant strides in improving health outcomes for women nationwide.