San Francisco-based Teal Health, which works with the mission to eliminate cervical cancer, has closed an additional $10 million in funding. This new capital brings Teal Health’s funding to $23 million. The round was led by Emerson Collective and Forerunner, which backed Roon with continued support from existing investors, such as Serena Ventures, Metrodora, and new partner Labcorp. This follows the recent $1.68 million Small Business Innovation Research (SBIR) grant from the National Cancer Institute and FDA Breakthrough Device Designation.
Plans to launch at-home screening device
These milestones will enable Teal Health to advance its go-to-market strategy for its research-backed at-home cervical cancer screening, upon FDA approval. The emphasis on design ensures the device is effective and user-friendly, allowing more women to take control of their health. This is claimed to be the US market’s first FDA-approved at-home self-collect cervical cancer screening device
Why focus on cervical cancer?
Reportedly, 92 million US women and people with a cervix are of screening age, but 1 in 4 are not screening routinely due to limited access and discomfort with the invasive exam. Cervical cancer screening is a key part of women’s preventive health and the only cancer screening that starts as young as 21 and spans at least forty years of a woman’s life, through some of the most busy and demanding years.
Teal Health was established by Avnesh Thakor and Kara Egan in 2018 to address this need. With its at-home screening device and telehealth platform, the company is all set to increase the rate of screening engagement in the US, thus improving women’s health outcomes.
Clerical cancer screening made accessible
Teal Health is dedicated to making self-collection screening easy and accessible from the comfort of one’s home. With a clear demand for more user-friendly and convenient options, the Teal Wand is poised to transform the market. In a recent nationwide clinical study conducted by Teal Health, 94% of women across all demographics preferred at-home screening over traditional in-clinic screenings with a speculum and brush.
The United States Preventive Services Task Force (USPSTF) highlights that self-collected HPV samples from the Teal Wand are as accurate as clinician-collected samples. Also, these are effective in reaching underscreened individuals and historically underserved populations. Evidence shows that at-home self-collection can significantly boost screening rates.
Nicole Johnson, a partner at Forerunner, who co-led this investment with Emerson Collective said: “There is no shortage of reasons for wanting to improve on the traditional healthcare system, but one unequivocal truth is that many healthcare experiences are not built with the end consumer as the primary customer. This feels especially true for women’s health, despite women accounting for ~80% of healthcare spending. Teal Health represents a unique opportunity to recreate the experience for one of women’s most routine and critical health screenings, making cervical cancer screens remarkably more comfortable and convenient. Teal’s debut product is a prime example of how a dramatically better experience could mean dramatically better adherence, quality of care, and outcomes.”
“Cervical cancer is detectable and treatable if you can catch it early enough,” said Matt Bettonville, Investor at Yosemite, which manages Emerson Collective’s oncology investments. “Teal can take the next step towards rendering this disease non-lethal—making the screening process easier and more convenient for millions of women in the U.S.”
Kara Egan, CEO of Teal Health, commented on the significance of the funding round, saying, “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. We’re deeply grateful to our investors, who are as committed as we are to eliminating cervical cancer and breaking down barriers to essential healthcare.”
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