News
Femtech by numbers – the rise of women’s health innovation

Female health has historically been underfunded and under researched, but the latest developments in femtech are aiming to restore the balance. Femtech World finds out all the figures you need to know about this booming industry…
Over the past decade or so, firms have been harnessing the power of technology to innovate in the world of female healthcare – and about time too.
Women have traditionally been overlooked when it comes to healthcare, in terms of both research and representation.
For example, around 65 per cent of healthcare employees are women, but they make up only 33 per cent of senior executives and 13 per cent of CEOs.
Male-dominated leadership, along with historical bias, has led to the overrepresentation of men in clinical trials, medical guidelines that fail to take women’s biology into account and a lack of innovation in women’s healthcare technologies.
And when we look at spending power, such male domination looks even more short-sighted; it is estimated that 90 per cent of women are the primary healthcare decision makers for their households, while also being responsible for 80 per cent of family healthcare spending. What’s more, women over age 19 also spend more per capita on healthcare than men.
Which is why the male dominated industry makes little sense, least of all financial – which is exactly the thinking behind the new generation of femtech businesses.
Let’s talk money
The femtech industry is predicted to be worth a massive $60bn by 2027, up from an already healthy $21.7m in 2020. Meanwhile, total global venture capital investments in femtech stood at $520m dollars last year.
However, the sex bias can even be seen in the world of venture capitalism. According to the Kauffman Foundation, private tech companies led by women achieve 35 per cent higher ROI than those led by men, but, in 2018, companies founded solely by women founders received only 2.2 per cent of VC funding. This could also be down to the inequality; women make up just nine per cent of venture capitalists working with start-ups.
In business
While femtech is certainly a booming field, it pales into insignificance compared to some of its tech-based peers.
The market is made up of over 200 start-ups worldwide, 92 per cent of which are founded and led by women. In comparison, there are around 12,000 fintech, or financial tech, start-ups in operation today.
However, a handful of dedicated femtech support programmes have been launched in the past two years, such as Station F in France, AXA Femtech Accelerator and the Tech4Eva accelerator in Switzerland.
What’s the focus?
In the early days of femtech, the focus was largely on periods, fertility and pregnancy, and some of the biggest names in the field, such as menstrual tracking apps Clue and Flo, are still concentrated here.
In fact, according to Emergen Research, the key field has been focused around pregnancy and nursing. In the US, pregnancy and nursing care apps are still the major shareholder of the market, holding around 40.2 per cent of it in 2019.
Unsurprisingly, given this market share, reproductive health is the recipient of the bulk of the funding too; 25 per cent of femtech investors are spending their money in this sub-sector.
However, as interest grows, femtech start-ups are broadening their horizons and investigating a variety of issues and conditions that disproportionately affect women, such as osteoporosis, breast cancer, stroke and depression.
And there are already signs that the landscape is shifting; in 2021 so far, the top funded sector has been preventative and primary care, bringing in $668m, followed by fertility support with $330m, and the pregnancy and parenthood area standing at $316m.
The biggest deals
In the 12 months to August 2021, women’s heath digital health start-ups in the US raised $1.3bn, nearly doubling 2020’s full-year total of $774m.
One of the biggest deals in that period was the $110m in Series D funding raised by Maven Clinic, a virtual women’s and family healthcare provider, which revealed it planned to use the funding to expand into new patient populations and invest in products.
In September, Tia, a healthcare company combining a virtual care with a real-life presence, announced a $100m Series B funding round.
Combining virtual and in-person care for a variety of women’s health needs, Tia provides primary, mental and gynaecological care, as well as acupuncture, for women across the US.
In a statement, the company said it plans to use the capital to expand its care model to more than 100,000 women by 2023.
In the UK, innovative femtech firm Elvie raised £97m in a Series C funding round in September. The firm, which was established in 2013, focuses on creating products that revolutionise women’s lives, such as an award-winning app-connected Kegel trainer and the world’s first silent wearable breast pump, Elvie Pump.
Entrepreneur
Impli wins £1.4m for hormone patch

Impli has secured a £1.4m grant to begin clinical use of a real-time hormone patch for infertility treatment.
The startup, which is working with innovations from Imperial College London, is developing a continuous hormone monitoring system for use in in vitro fertilisation, known as IVF.
IVF is a fertility treatment in which eggs are fertilised outside the body before an embryo is transferred to the womb.
Timing is critical in IVF, the most common form of infertility treatment, but most patients are still monitored through blood tests taken every other day at best.
Hormone levels can change within hours, meaning important shifts may be missed.
These can include hormone surges linked to egg release, dips that may contribute to implantation failure and early signs of ovarian hyperstimulation syndrome.
Ovarian hyperstimulation syndrome is a potentially serious reaction to fertility medicines, where the ovaries over-respond and become swollen.
In a treatment with low success rates, these uncertainties can affect patient outcomes and wellbeing.
Impli’s system is based on research by Dr Salzitsa Anastasova in the department of mechanical engineering at Imperial.
The technology uses electrochemical biosensors to sample hormones in the fluid between cells.
These can be used in a subcutaneous implant, meaning one placed under the skin, or in Impli’s Bio-Endocrine Analysis Monitor, known as BEAM, which uses microneedles that pierce the skin.
Microneedles are tiny needles designed to enter the upper layers of the skin with minimal discomfort.
The biosensors continuously measure oestradiol, luteinising hormone and progesterone, which are hormones involved in the menstrual cycle and fertility treatment.
Data is transmitted wirelessly to a smartphone, where AI software converts raw signals into real-time hormone trends.
Sotirios Saravelos, consultant gynaecologist and reproductive medicine subspecialist at the Wolfson Fertility Centre, part of Imperial College Healthcare NHS Trust, said:
“Continuous hormone monitoring has the potential to change the landscape of fertility treatment, both in terms of clinical care and patient experience. Rather than snapshots taken at fixed points in time, with Impli we will have access to a live feed of each patient’s hormonal response, allowing us to personalise care in a way that has not been possible before.”
Saravelos is part of the research consortium that has won a £1.4m grant to take Impli’s BEAM device from prototype to its first human clinical validation for IVF.
The project was designed with support from Dr Simon Hanassab as part of a PhD on how AI can support decision making for IVF.
The work was carried out at the UKRI Centre for Doctoral Training in AI for Healthcare at Imperial, a collaboration between the department of computing and the department of metabolism, digestion and reproduction.
Hanassab is now working part-time as Impli’s head of AI.
The grant comes from the National Institute for Health and Care Research Invention for Innovation programme.
It will support a 30-month project bringing together Impli, Imperial College Healthcare NHS Trust, the London Institute for Healthcare Engineering at King’s College London and the patient advocacy network Fertility Europe.
Specialist medical device manufacturer TTP is also involved.
BEAM is the first step in Impli’s plan to develop a broader platform of fully implantable, long-duration monitoring systems.
Anna Luisa Schaffgotsch, founder and chief executive of Impli, said:
“We are not just building a device, we are building the evidence base to show that continuous hormone monitoring is possible, clinically meaningful and ready for the real world. With an exceptional consortium behind us, we now have the funding, the expertise and the clinical pathway to do that properly.”
According to the company, the same core technology could later have applications in hormonally driven cancers, polycystic ovary syndrome, endometriosis and menopause.
Polycystic ovary syndrome is a common hormonal condition that can affect periods, fertility and metabolism.
Endometriosis is a condition where tissue similar to the lining of the womb grows outside the uterus, often causing pain.
BEAM’s development builds on more than 15 years of biosensor research at Imperial, with intellectual property covering the sensing approach, device architecture and data interfaces.
Impli has so far delivered three functional prototypes, completed pre-clinical laboratory trials and begun animal trials, which the company said have shown positive results.
It also has a strategic partnership with Bayer on real-time hormone biosensing and relationships with IVF clinics internationally.
News
Spain triples women’s health research funding

Spain will triple annual women’s health research funding to €18m under a programme focused on discrimination in medical research.
Spain’s Ministry of Science will increase investment in research and development projects focused on women’s health to €18m a year.
The initiative was announced on Monday by prime minister Pedro Sánchez during the presentation of Somos. Contamos: Fin de la discriminación de las mujeres en la investigación de la salud, which translates as We Are. We Count: Ending Discrimination Against Women in Health Research.
Sánchez said:
“This will boost research, diagnosis and treatment in areas that affect the lives of thousands of women in our country, who have not received the necessary attention.”
The plan is divided into three main areas.
These include a specific mission on women’s health through the centre for technological development and innovation, which will support companies and research centres working on research and development projects.
It also includes a new funding line for the Carlos III health institute and measures to build the research workforce in the field, including predoctoral contracts for projects focused on women’s health.
Sánchez said conditions such as endometriosis reflected discrimination faced by women in healthcare.
Endometriosis is a condition where tissue similar to the lining of the womb grows outside the uterus, often causing severe pain and, in some cases, fertility problems.
The prime minister said the condition affects one in seven women and can take a decade to diagnose.
He said:
“This cannot be allowed in Spain today.”
Sánchez added:
“If a disease affected one in seven men, causing chronic pain, difficulty working, and fertility problems, would we accept a decade-long delay in diagnosis? The answer is obvious: certainly not. So it’s high time we said ‘no’ with the same clarity when we talk about diseases that affect millions of women.”
Other diseases where diagnosis and treatment suffer from a lack of a gender perspective include chronic pain, autoimmune and thyroid diseases, cardiovascular and mental health conditions, menopause and hormonal imbalances.
Autoimmune diseases occur when the immune system mistakenly attacks the body, while thyroid diseases affect a gland in the neck that helps regulate metabolism, energy and hormones.
Sánchez said:
“There can be no equality while science continues to respond better to some lives than to others.”
The prime minister also addressed the delay in diagnosing women.
He said:
“It is a paradox that says a lot about our past, that challenges our present, but that also drives us to change the future, including through politics.”
News
New trial aims to extend immune system lifespan

A first-in-human clinical trial of an immune rejuvenation therapy designed to restore the function of worn-out T cells is expected to begin later this year, building on research led by UCL scientists into the mechanisms of immune ageing.
The Phase 1 trial will focus on exhausted or senescent T cells, which accumulate with age and in chronic disease and become less effective at coordinating immune protection.
Researchers hope that metabolically resetting these cells may help the immune system regain characteristics associated with younger, healthier immune responses. The work may have clinical utility for diseases such as cancer, HIV and dementia.
Our immune system protects us from infection, cancer and disease. However, as we age, some immune cells become exhausted and lose their ability to function effectively. This process, known as immune ageing, can leave people more vulnerable to illness and less able to respond to health challenges.
The new therapy, developed by biotech company SenTcell founded by Dr Alessio Lanna (UCL Medicine), is designed to rejuvenate these worn-out immune cells. Rather than attacking diseased cells directly, it works by restoring the immune system’s natural ability to recognise and respond to threats.
The treatment is a liquid formulation administered by intramuscular injection, similar to many commonly used vaccines. Once delivered, it is designed to reprogramme key pathways that drive immune dysfunction, helping immune cells regain characteristics of younger, healthier cells.
The goal is to improve immune resilience, enhance protection against disease and ultimately support healthier ageing.
Dr Lanna said: “People living with HIV are now able to live long and healthy lives thanks to major advances in treatment, but many still experience features of accelerated immune ageing. Similar patterns of immune dysfunction are also seen in cancer and other chronic diseases.
“This trial is an important step towards testing whether we can safely rejuvenate exhausted immune cells and restore aspects of healthy immune function. Our goal is to help establish immune rejuvenation as a new way of treating diseases linked to immune ageing and dysfunction.”
The trial builds on research suggesting that some dysfunctional T cells – a type of white blood cell that helps coordinate the body’s immune response – can be restored to a more youthful, functional state. Researchers are focusing on CD4+ T cells, often described as the “conductors” of the immune system because they help direct other immune cells to respond to infection, cancer and disease.
Inside every cell, chromosomes are protected by structures called telomeres, which sit at their ends like protective caps. Telomeres help shield genetic material from damage and gradually shorten as cells divide over time, making them a well-established marker of biological ageing.
Previous laboratory studies suggest that rejuvenated CD4+ T cells may be able to release telomere-containing structures into the bloodstream. Researchers have termed these structures “telomere rivers” and are investigating whether they could help explain how rejuvenated immune cells influence the health and function of other tissues throughout the body. This idea remains under active investigation and has not yet been demonstrated in humans.
The research programme has received support through the Medicines and Healthcare products Regulatory Agency’s (MHRA) Innovative Licensing and Access Pathway (ILAP), recognising its potential to address significant unmet needs associated with age-related immune decline and immune dysfunction.
UCL researchers are preparing for Phase 1 of the trial, which will carefully select adult participants and is expected to focus initially on people with evidence of immune dysfunction, including immune ageing and chronic viral infection. Participants will undergo detailed immune profiling before and after treatment.
Investigators will look at whether the therapy can restore features of healthy immune function. As an early-stage trial, the primary goals are safety and biological activity rather than demonstrating clinical benefit.
If successful, the programme could establish immune rejuvenation as a new therapeutic approach: restoring the immune system’s protective capacity instead of targeting each pathogen or disease process separately.
Researchers believe the strategy could eventually have relevance for conditions characterised by immune exhaustion, including chronic infections, autoimmune disease and cancer, while also informing broader efforts to improve healthy ageing.
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