FierceMedTech Fierce 15 winner AblaCare, developer of a device-based approach to treating infertility associated with polycystic ovarian syndrome (PCOS), has secured €10 million ($11.2 million) in its first major venture capital haul.
The Paris-based company also brought on medtech veteran Jodie Fam to be its CEO. Fam has more than 20 years of experience in early-stage medical device development and commercialization, including stints at Concentric Medical and Medina Medical, which were acquired by Stryker and Medtronic, respectively. She has also held positions at CardioKinetix, Guidant, Johnson & Johnson and Mallinckrodt Medical.
The series A funds from Sofinnova Partners will be put toward a European feasibility study for AblaCare’s treatment, which aims to provide a less invasive option compared to traditional PCOS-related fertility procedures.
The money will also support its clinical and regulatory programs in the U.S., according to the company, which also launched an eight-month clinical trial for about 30 participants in London this past February.
“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,” Sofinnova managing partner Antoine Papiernik said in a statement.
“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,” Papiernik said.
PCOS is a leading driver of infertility and can affect up to 15% of women, according to the company. Caused by the overproduction of male hormones in the ovary, AblaCare’s procedure uses ablation to eliminate excess tissue to allow for the development and release of mature eggs without the need for fertility drugs.
Additionally, by taking the same transvaginal, minimally invasive routes used by physicians performing in vitro fertilization, AblaCare hopes to offer its one-time treatment in the office setting. The company has seen spontaneous ovulation in as many as 75% of women within six months after the procedure, with up to 55% naturally achieving pregnancy over the same time.