
#104 From Investor to Inventor with Joanna Nathan: Rethinking Early Stage Lung Cancer Surgery, Raising Capital and the Changing Face of the Disease
Joanna Nathan, CEO and co-founder of Prana Surgical, adjunct professor at Rice University and a former MedTech investor who spent years at the J&J MedTech Center for Device Innovation before crossing over into building herself. Her company recently secured FDA clearance for the Prana System, a tissue-sparing platform rethinking how early stage lung cancer is diagnosed and treated. In this episode, Joanna shares the deeply personal story behind her move from investing back into operating, having lost her four year old son in 2021 and wanting proximity to patient impact rather than evaluating innovation from the sidelines. It is an honest and moving conversation about what actually drives someone to take on a decade-long mission. We get into what she learned watching hundreds of pitches from the investor seat, why a no is very often about portfolio construction and timing rather than the quality of your idea, and why a fundraising pitch is a vision document backed by evidence rather than a journal article. Joanna then breaks down the problem Prana is solving, why removing large portions of lung for a tiny early stage nodule is no longer justifiable and how the system is right-sized for the level of risk these smaller lesions present. We also explore the changing face of lung cancer, the rise of never smokers now approaching one in three patients, why the disease is getting younger and more female, the role of mobile screening in rural areas and where AI genuinely helps rather than replaces clinical judgement. Joanna closes with hard-won advice for anyone thinking about founding a company and why community is what carries you through. Timestamps [00:01:38] From Research to Investing to Building: The Path Back to Operating [00:03:33] Why a No From an Investor Is Rarely About Your Idea [00:05:29] Why a Pitch Is a Vision Document Not a Journal Article [00:07:16] The Problem With Early Stage Lung Cancer Surgery Today [00:09:22] The Rise of Never Smokers and a Disease That Is Changing Fast [00:11:03] Why Women Under 50 Now Face Higher Lung Cancer Rates [00:13:18] Getting Creative on Access: Mobile CT Screening in Rural Areas [00:17:21] AI in MedTech: Assisting Clinical Judgement Not Replacing It [00:19:22] How Houston Became an Unlikely MedTech Powerhouse [00:24:06] Who Should Not Become a Founder and the Decade-Long Question Connect with Joanna - linkedin.com/in/joannacnathan/ Learn more about Prana Surgical - https://www.pranasurgical.com/ Get in touch with Karandeep Badwal - https://www.linkedin.com/in/karandeepbadwal/ Follow Karandeep on YouTube - https://www.youtube.com/@KarandeepBadwal Medical device training courses delivered by Karandeep through Bywater - https://www.bywater.co.uk/


















