RxLightning, a New Albany, IN-based creator of a comprehensive platform for streamlining specialty medication access and affordability, raised $17.5M in Series A funding.
The round, which brought the total amount to $20.5M, was led by LRVHealth, with participation from McKesson Ventures and existing investors Novartis (dRx Capital), Onco360 (BrightSpring Health Services), Hearst Ventures, and HealthX Ventures. With this funding round, LRVHealth’s Josh Flum and McKesson Ventures’ Carrie Williams will join RxLightning’s board of directors alongside HealthX Ventures’ Mark Bakken, former Walgreens executive Brad Fluegel, and Julia Regan.
The company intends to use the funds to support its growth.
Led by Julia Regan, CEO and founder, RxLightning digitizes, automates, and streamlines the historically manual specialty medication onboarding process. With it, healthcare providers – from those practicing at independent clinics to large health systems – can complete patient enrollment for specialty medication in therapeutic area, helping reduce paperwork, streamline communication, and accelerate speed-to-therapy. Through its MedAccess Ecosystem, patients, providers, specialty pharmacies, and pharmaceutical manufacturers have insights into each step of the patient onboarding journey.
The company has digitized forms for over 1,200 specialty drugs with custom logic and smart-pick menus, and continuously adds forms for new medications as they enter the market. In addition, the modular platform automates the FDA’s Risk Evaluation and Mitigation Strategies (REMS) program, confirms patient eligibility and coverage, and streamlines enrollment in financial assistance programs to further eliminate access barriers.