Infertility treatment company AblaCare said today that it has raised €10 million ($11.3 million) in Series A financing from Sofinnova Partners and the appointment of medtech veteran Jodie Fam as CEO.
The Paris-based company’s minimally invasive ablation technology was designed to treat polycystic ovarian syndrome (PCOS) as an alternative to a surgical method known as “ovarian drilling.”
Ablation eliminates excess androgen-producing tissue in the ovary. Following this one-time treatment, spontaneous ovulation occurs in up to 75% of women within six months, according to a 2015 study conducted in Sao Paolo, Brazil. Up to 55% of women achieved pregnancy in the same timeframe, with a natural conception experience, the study showed.
Fam brings more than 20 years of medtech experience to her new role as CEO, having led early-stage medical device product development, market access and commercialization for major medtech companies and several venture-backed startups. She has held top management roles at Concentric Medical (acquired by Stryker in 2011), Medina Medical (acquired by Medtronic in 2015) and CardioKinetix, as well as senior sales and marketing positions with Johnson & Johnson, Guidant Corporation and Mallinckrodt Medical.
“We’re pleased to become investors in AblaCare’s Series A financing. We believe the company has the right technology to address one of the primary causes of infertility,” said Antoine Papiernik, managing partner of Paris-based venture capital firm Sofinnova Partners, in a news release. “In addition, we are thrilled to have Jodie leading the AblaCare team. She has been instrumental in bringing a number of early-stage, paradigm-shifting medical technologies to market in diverse and competitive environments.”
Up to 15% of women are diagnosed with PCOS, half of whom face infertility, according to the Brazilian study. The condition is caused by the overproduction of male hormones, which prevents the development and release of mature eggs. Current treatment options are complex, costly and emotionally trying.
“AblaCare addresses the number-one cause of ovulation-related infertility, allowing women with PCOS to ovulate as they naturally would — without using fertility medications and hormones,” Fam said. “We are proud that a premier life sciences investor recognizes the enormous opportunity AblaCare represents to transform innovations for women’s health.”
The company’s technology is currently being evaluated in a 30-participant clinical trial, with results expected in September 2020.
Proceeds from the financing will be used to advance the company’s clinical and regulatory programs in Europe and the United States. Concurrent with the financing, Andrew Weiss, president & CEO of ReCor Medical, has been named chairman of AblaCare’s board of directors.
