Start-up launches crowfunding campaign to fund uterine fibroid technology

A UK women-led medical device company has launched a crowdfunding campaign to raise funds for its uterine fibroid technology.

Luna by Ablatus Therapeutics, a spin-out from the Norfolk and Norwich University Hospitals NHS Foundation Trust, is a radiofrequency ablation technology that aims to provide minimally invasive, fertility-preserving procedures for treating uterine fibroids.

Having already secured £3m of funding from investors in an earlier financing round led by Mercia Ventures, Low Carbon Innovation Fund and experienced angel investors, the start-up is now opening the round to its community and new investors to raise additional financing.

This funding is hoped to develop Luna, providing hope to millions of women affected by uterine fibroids.

Uterine fibroids remain a vastly underserved global health issue, affecting up to 80 per cent of women by the age of 50.

While not always symptomatic, fibroids can cause debilitating pain, heavy menstrual bleeding, abdominal swelling, and complications during pregnancy and labour. These conditions impose a staggering up to US$34.4bn annually in the US alone.

Current treatments, including contraceptive pills and invasive surgery, often fall short of providing a comprehensive and fertility-preserving solution.

Many women in the US delay treatment for up to three years to avoid invasive procedures, highlighting the urgent need for innovative solutions, such as Luna aims to offer.

“Our mission is to enable millions of women access to a safe and cost-effective treatment for uterine fibroids so they can enjoy a better quality of life whilst preserving their fertility,” said Dr Chung Looi, CEO of Ablatus Therapeutics.

“We’re inviting members of the public to join us today in this transformative journey by pledging to our crowdfunding campaign. Your contribution will help us complete the development of our pioneering femtech solution for fibroids.

“Everyone knows someone affected by fibroids; with Luna, we’re ensuring that future generations won’t have to endure unnecessary suffering.”

The crowdfunding campaign is live now. For further information on how to pledge and pre-register interest visit crowdcube.com/early-access/luna-by-ablatus .