Materna Medical Completes First Close of Series B2 Financing Round
May 23 2024 - 4:16PM
Business Wire
Materna Medical, Inc., a leading innovator in women's pelvic
health solutions, has announced the completion of the first close
of a $20 million Series B2 financing round. The round was led by
InnovaHealth Partners and other key existing investors included
Wavemaker Three-Sixty Health, Kimera Limited, Women's Venture
Capital Fund, Golden Seeds, Band of Angels, and Houston Angel
Network.
"Materna is a first mover, aiming to transform the standard of
care in labor and delivery. Imagine a world in which women aren’t
injured while delivering vaginally," commented Tracy MacNeal, Chief
Executive Officer for Materna Medical. "Our nation’s maternal
health crisis is a clarion call for new obstetrical technologies,
and Materna is leading the way."
The company has successfully reached several key milestones,
including obtaining over-the-counter FDA clearance for its first
commercial product, the Milli Vaginal Dilator. Additionally,
clinical data from an expanded feasibility study of Materna’s
second product, Materna Prep, shows substantial promise in the
potential to reduce pelvic floor injury rates for women delivering
vaginally.
Dr. Ariella Golomb, Materna’s Board Chair and Partner at
InnovaHealth Partners added, "We are pleased with the Company’s
progress, excited about the feasibility data and look forward to
its publication later this year. The funds from Series B2 will be
used to obtain FDA marketing authorization for Materna Prep and
support the commercial launch of this transformative
technology.”
For more information on Materna Medical, visit
MaternaMedical.com.
About Materna Medical
Materna Medical is a novel OBGYN platform company defining a $6B
market with core technologies addressing unmet needs in women's
pelvic health. With headquarters in Mountain View, California,
Materna pulls from the top minds in MedTech to truly transform the
standard of care in OBGYN. With a diverse team of engineers,
scientists, researchers, and commercial leaders, Materna Medical’s
mission is to empower women to protect their pelvic health.
Our first product, Milli, is vaginal dilator to support patients
suffering from vaginismus and related painful sex. In 2019, the
Milli device launched as a wellness trainer and, in 2023, received
FDA clearance to sell over the counter, enabling streamlined access
to people suffering from vaginismus. Milli outcomes are being
studied in a post-market prospective virtual study named
POMPOM.
Materna’s second product, Materna Prep, is an investigational
device used during labor and is intended to reduce pelvic floor
muscle injury during vaginal delivery. This product is being
studied in the EASE trial, a large, randomized controlled trial
running in 20 top US hospitals. Materna aims to transform the
standard of care in labor and delivery by protecting pelvic floor
health for moms.
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version on businesswire.com: https://www.businesswire.com/news/home/20240523393523/en/
Media Contact: Debbie Donovan Head of Commercial Operations
Materna Medical, Inc. marketing@MaternaMedical.com