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Investment roundup: Calls for investment in global gynaecological health, $5m for endometriosis blood test, and more

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Femtech World explores the latest business and investment developments in women’s health.

Calls for investment in global gynaecological health

The Royal College of Obstetricians and Gynaecologists (RCOG) is calling for investment in global gynaecological health as a critical issue of equity and rights..

In a new policy position statement the RCOG is calling on governments, non-governmental organisations, and donors to champion gynaecological health as a political priority on the global health and to prioritise sufficient and long-term investment in effective interventions to address the unmet need for quality gynaecological healthcare.

The evidence base around the scale of gynaecological conditions is limited and as a result, it is likely that the global burden of gynaecological conditions is significantly underestimated.

The RCOG position calls for investment in research and improved data collection for gynaecological conditions as well as establishing international definitions, targets and indicators to reduce variation in data quality and hold governments and donors to account on progress.

The college states that as the 2030 deadline for achieving the UN Sustainable Development Goals approaches, governments, non-governmental organisations and donors have a crucial role to play in promoting gynaecological health as a critical issue of equity and rights.

Afynia raises CAD$5m to commercialise endometriosis blood test

Biotech company Afynia Laboratories recently raised CAD$5m to progress its pipeline of women’s health diagnostics initially focused on endometriosis.

Existing options like diagnostic surgery are invasive, expensive, and often delay diagnosis up to 10 years. Afynia has developed a microRNA-based assay called EndomiR, which utilizes novel biomarkers to detect signs of endometriosis in the blood.

This can offer a less invasive, less expensive, and more accessible molecular test for endometriosis.

This investment from and collaboration with Bio-Rad Laboratories will accelerate Afynia’s growth and provide a long-term partner to bring EndomiR to patients around the world.

Femasys secures distribution partnerships for commercialisation of Fembloc in Spain

Biomedical company Femasys has secured strategic distribution partnerships for FemBloc – a first of its kind, non-surgical permanent birth control – in Spain.

Comercial Medico Quirurigca, SA (CMQ) will expand its commercial portfolio to include FemBloc, alongside other Femasys products in northern Spain, while Durgalab will handle distribution in the southern region.

Kathy-Lee Sepsick, Femasys CEO and Founder commented: “Today’s announcement marks a significant milestone in our mission to bring innovative technologies to women worldwide, as we expand globally with the first introduction of FemBloc through our partnerships in Spain.

“Our distribution partners bring extensive expertise in women’s healthcare, having previously represented the Conceptus Essure product (acquired by Bayer).

Noom expands into hormone replacement therapy

Digital healthcare company Noom is expanding into Hormone Replacement Therapy (HRT) to provide support for women as they navigate menopausal hormone shifts.

Noom is providing support and tools for women in menopause including FDA-approved and compounded medication options using bioidentical hormones proven to provide relief from menopause symptoms, personalised content designed to guide women on topics such as medication tracking, access to a library of resistance-training workouts, and continuous guidance and support from coaches, clinicians and the community.

Virtual roundtable on funding in femtech

Daya Hub is holding a virtual roundtable on funding in femtech with a focus on East Africa. The event will take place on Thursday, 20 March, 2025.

The event will bring together key stakeholders stakeholders including investors, entrepreneurs, policymakers, and innovators to explore the funding landscape, challenges, and opportunities in the femtech sector in East Africa.

Attendees will have the opportunity to gain insights from investors on what they look for in women’s health innovations and to discover alternative financing models, including venture capital, grants, and impact investment.

Networking and discussion opportunities will be key to the event, with opening remarks by Daya Hub East Africa representatives.

Topics discussed at the event will include access to capital; investor perspectives; alternative financing; gender & funding bias; and, policy and regulations.

My Normative announces Women’s Health Research Award

My Normative recently announced the launch of the Next Generation Women’s Health Research Award. Through this award, My Normative has committed to funding up to five projects per year for the next five years, in which researchers receive funding for a “Starter” technology implementation for prospective research across expertise and domain areas that impact women differently and disproportionately.

The Starter product offers a cost-effective and participant-friendly way for researchers to get their feet wet collecting and analysing sex and gender data.

The product is structured to facilitate sex and gender specific insights and not require researchers to be experts in women’s health. Researchers will collaborate with My Normative to implement their specific study protocol and deploy seamlessly with the companion app to their study participants.

“In order for scientific research in the health and life sciences to move forward in a way that is equitable across sex and gender, we must make it easier for innovators and researchers to include and accurately represent sex and gender in scientific research at scale. In particular it is urgent that we remove barriers to this new generation of passionate innovators who want to account for sex and gender in the research process but might need a little extra support to get started” said CEO and co-founder, Danika Kelly.

Award applications are now open. To apply, please visit mynormative.com/awards to get started or reach out to Allison Swelin, Director of Growth at allison@mynormative.ca.

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Flex partners with Clue on HSA and FSA access

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Flex partners with Clue to make Clue Plus eligible for HSA and FSA spending in the US, letting users pay for menstrual health tools with pre-tax funds.

HSAs and FSAs are US pre-tax accounts for eligible health costs. Announced on 16 December 2025, the move makes Clue Plus available via these benefits, with Flex citing potential savings of 30 to 40 per cent.

Clue Plus offers personalised cycle tracking, deeper analysis, advanced predictions and hormone insights, with options for pregnancy and perimenopause. It includes 12-month forecasting and clinician-backed guidance.

“At Clue, our mission is to empower women and people with cycles with trustworthy, science-based information about their menstrual and reproductive health,” said Rhiannon White, CEO of Clue. “Partnering with Flex allows us to make Clue more accessible to the millions of people who rely on our app for insights into their bodies. We’re thrilled to expand access through HSA/FSA eligibility.”

Flex says more than US$150bn is held in HSA and FSA accounts, and the partnership brings reproductive health purchases into standard benefits checkout.

“At Flex, we believe everyone should have affordable access to women’s healthcare,” said Sam O’Keefe, CEO of Flex. “After my own pregnancy and postpartum experience, I saw firsthand how confusing and hard to navigate women’s health can feel. Making Clue eligible for HSA and FSA spending is one way we are helping more people use their pre-tax dollars to access tools that provide meaningful data and insights into their health.”

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IVFmicro raises £3.5m to boost IVF success

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IVFmicro has raised £3.5m to advance its microfluidic device designed to improve IVF success rates in routine clinic use.

The Leeds-based spinout from the University of Leeds, founded in 2024, aims to increase the quality and number of embryos in an IVF cycle.

IVF, or in vitro fertilisation, combines eggs and sperm in a lab before transferring embryos to the womb. A microfluidic device is a chip with tiny channels that move very small volumes of fluid.

The company says its device could raise the number of viable embryos available for transfer and the likelihood that an embryo will implant.

Currently, IVF leads to a successful pregnancy in about 30 per cent of cases for women under 35. A single cycle typically costs around £5,000 in the UK.

“My career has focused on understanding the reproductive biology of eggs and embryos, how they develop and, crucially, why things sometimes go wrong,” said IVFmicro co-founder and scientific director Helen Picton.

“At IVFmicro, we are harnessing years of research into reproductive biology to create a practical, accessible solution that can improve outcomes for patients undergoing fertility treatment. Our goal is to make IVF more effective, more predictable, and ultimately more hopeful for those striving to start a family.”

The investment was led by Northern Gritstone, with support from Innovate UK’s Investment Partnership Programme.

“IVFMicro is a brilliant example of the world-class innovation emerging from the Northern Arc’s universities, combining scientific excellence with a clear commercial vision to tackle the societal challenge of infertility,” said Northern Gritstone chief executive Duncan Johnson.

“Millions worldwide require fertility treatment, but new solutions are needed to overcome the high costs involved and low success rates. We are especially proud that IVFMicro’s journey has been supported through our NG Studios programme and our Innovation Services, which exist to help founders like Virginia and Helen turn pioneering research into real-world impact.”

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University of Leeds IVF spinout raises £3.5m

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University of Leeds IVF spinout IVFmicro has raised £3.5m in pre-seed funding.

The investment is led by Northern Gritstone, with support from Innovate UK Investor Partnerships Programme, and will be used by IVFmicro for its next verification and validation phase, leading to trials on human embryos in fertility clinics.

Helen Picton is scientific director and co-founder of IVFmicro.

She said: “My career has focused on understanding the reproductive biology of eggs and embryos, how they develop and, crucially, why things sometimes go wrong.

“At IVFmicro, we are harnessing years of research into reproductive biology to create a practical, accessible solution that can improve outcomes for patients undergoing fertility treatment.

“Our goal is to make IVF more effective, more predictable, and ultimately more hopeful for those striving to start a family.”

Globally, 1 in 6 couples will face fertility issues, yet IVF success rates are suboptimal, with only 25-30 per cent succeeding in women under 35 years of age.

This is due in part to limitations of the embryo culture process, which typically involves repetitive handling, subjective selection of the best embryo, and the expense of highly skilled operators.

IVF is an expensive process, costing on average £5,000 for a patient in the UK for one cycle, accompanied by long NHS waiting lists that have selective criteria.

IVFmicro provides the first microfluidic device (a device for safely managing embryo culture and handling with very small amounts of nutrient-rich fluid) that can be used in any IVF treatment cycle.

This precision-engineered solution improves both the number of viable embryos available for transfer and the likelihood that an embryo will implant and result in a pregnancy.

IVFmicro provides a 10-15 per cent improvement in embryo quality and quantity, a significant leap that increases the potential to fall pregnant.

IVFmicro was founded in 2018 by Virginia Pensabene, Ph.D, and Helen Picton, Bsc, Ph.D., both professors at the University of Leeds.

Pensabene has published scientific advancements in microfluidics and brings her technical and scientific expertise to the product design.

Picton is a non-clinical expert in female reproductive biology and embryology, and has generated over £8m in research grant income.

IVFmicro recently took part in the NG Studios life sciences programme, which supports pre-seed life science businesses, and is delivered by accelerator KQ Labs, the Francis Crick Institute, and Northern Gritstone.

Virginia Pensabene, CEO and co-founder, IVFmicro, said: “As a biomedical engineer, I began exploring the potential of this technology in 2017, when Helen and I first met at the University of Leeds.

“From the start, our goal was to translate our research into a real solution for patients.

“Thanks to the combination of grant funding and Northern Gritstone’s support — both through investment and its innovation programmes — we have been able to grow our team in Leeds and take a major step toward bringing this precision-engineered IVF solution to market.”

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