Women’s health device start-up Elidah is looking to raise $2 million to support its Elitone stress urinary incontinence-treating device, according to a Connecticut Post report.
The Elitone device, developed by the Newtown, Conn.-based company, is designed to be worn during the day and provides 20 minutes of electrical stimulation to strengthen pelvic muscles and aid women with stress urinary incontinence, according to the report.
So far, Elidah has won backing from the state-backed Connecticut Innovations venture fund for up to $750,000, as well as an undisclosed amount of funding from the NSF’s Small Business Innovation Research program’s America’s Seed Fund.
The company is now in the process of raising up to an additional $2 million to support marketing of the device, contingent on it receiving FDA approval, according to the report.
“This is such a huge market – 1 out of 3 women over the age of 30 have this problem,” CEO Gloria Kolb said, according to the paper.
Kolb, who was previously touted by MIT’s Technology Review as a top innovator under 35, previously founded Fossa Medical, a company which looked to develop and market a novel technique for removing kidney stones, but failed to break into the market.
“From that 1st company Fossa — which was in urology — I knew that incontinence for women was a gigantic problem. We looked into the options and saw an opportunity there — doctors telling you to do exercises to strengthen those muscles on your own, and the next step is surgery. There’s a large gap in between,” Kolb said, according to the Connecticut Post.
Elidah is currently looking to enroll women in a clinical research study of the device, according to the company’s website.