What You Should Know:
– Teal Health, a women’s health company dedicated to eliminating cervical cancer, announced today it has raised an additional $10M in seed funding led by Emerson Collective and Forerunner, with continued support from existing investors like Serena Ventures and Metrodora, and a new partnership with Labcorp.
– This latest investment brings the company’s total funding to $23M and will support the upcoming launch of the Teal Wand™, a groundbreaking at-home cervical cancer screening device currently under FDA review.
– This investment comes on the heels of significant milestones for Teal Health, including a $1.68 million Small Business Innovation Research (SBIR) grant from the National Cancer Institute and FDA Breakthrough Device Designation for the Teal Wand.
Addressing a Critical Need
Cervical cancer is a preventable disease, yet millions of women in the US are not getting screened regularly. Teal Health aims to change that. A recent nationwide clinical study conducted by Teal Health found that 94% of women preferred at-home screening with the Teal Wand over traditional in-clinic methods. This highlights the strong demand for a more user-friendly and convenient option.
How the Teal Wand Works
The Teal Wand is a self-collection device that allows women to collect a sample for human papillomavirus (HPV) testing, the primary screening method for cervical cancer. The sample is then mailed to a lab for analysis, and results are delivered securely through Teal Health’s telehealth platform. The Teal Wand is on track to become the first FDA-approved self-collect cervical cancer screening device in the US market. This innovative technology allows women to take control of their health and screen for cervical cancer in the comfort and privacy of their own homes.
This approach aligns with the latest guidelines from the United States Preventive Services Task Force (USPSTF), which recognizes the accuracy and effectiveness of self-collected HPV samples, particularly in reaching underscreened populations.
