PCOS infertility treatment developer May Health raises $25M

The startup May Health has gathered $25 million in funding to help continue clinical studies of its less invasive, outpatient procedure for addressing infertility caused by polycystic ovary syndrome, the endocrine disorder commonly known as PCOS.

The former Fierce Medtech Fierce 15 winner, previously known as AblaCare, has been developing its “ovarian rebalancing” approach that aims to restore a person’s natural ovulation cycle. 

“For the millions of women living with PCOS, the physical and emotional impact of this condition is profound,” May Health CEO Anne Morrissey said in a statement. “From fertility challenges to emotional well-being and physical symptoms, women with PCOS need more viable treatment options.”

“We are eager to continue building on the positive results of our previous clinical studies as well as this financing milestone as we work to become a leader in global women’s health and PCOS-related infertility,” said Morrissey, who joined the company amid its 2022 rebranding

Morrissey previously served as CEO of another women’s health-focused Fierce 15 winner, Alydia Health, which was acquired by Merck’s Organon in 2021 for its device aimed at stopping excessive bleeding during childbirth.

The Paris-based May Health’s series B round was co-led by Bpifrance and Trill Impact, and joined by Avestria Ventures and Kidron Capital Assets, alongside the company’s founding investor, Sofinnova Partners.

The startup’s one-time, in-office procedure takes the same transvaginal path as in vitro fertilization techniques while employing ultrasound-guided ablation to correct the ovarian tissue.

“For years, women with PCOS who struggle with infertility have sought alternative treatment options that go beyond IVF and laparoscopic ovarian drilling,” said Robert Auerbach, chairman of the May Health board. “Our team is working to develop a simple and safe procedure that can activate natural ovulation and help women regain their ability to grow their families.

According to the Centers for Disease Control and Prevention, PCOS affects as many as 5 million people in the U.S., where small sacs of fluid develop on the ovaries and can lead to irregular periods and other conditions, including increased insulin resistance and hormonal imbalances.

“We see May Health as a great example of a company where commercial opportunity and impact go hand in hand,” said Nina Rawal, co-head and partner at Trill Impact, who took a seat on May Health’s board of directors along with Bpifrance investment director Jean-Francois Morin.

The proceeds will support the company’s ongoing pivotal trial, named REBALANCE. Previous feasibility studies showed the device could reach at least one ovary with no serious side effects; 44% of treated women ovulated spontaneously in the three months following the procedure, with that rate increasing to 65% in the time thereafter with the re-introduction of ovulation-inducing medications.