Biotech start-up raises US$33m to develop new fertility treatments

The US biotech start-up Gameto has raised US$33m in Series B funding to advance the development and commercialisation of new fertility treatments.

Gameto works towards developing a product suite to support women in need of fertility treatment.

The company’s lead programme, Fertilo, aims to make IVF and egg freezing shorter, safer and more accessible through reduced hormonal injections by maturing eggs outside of the body.

This latest funding, led by Two Sigma Ventures with RA Capital and participation from existing investors, brings Gameto’s total capital raised to US$73m. The financing is hoped to support the clinical development of Fertilo in the US.

Following productive discussions with the US Food and Drug Administration (FDA), Gameto received tentative approval to proceed to Phase 3 trials, subject to the completion of certain assay and manufacturing requirements.

The funding will also support the commercial launches of Fertilo in Australia and Latin America where the solution is already being used.

“I am proud of the strong scientific foundation, driven and high performing team, innovative pipeline and encouraging data that we have cultivated at Gameto, and I am incredibly excited to amplify and build upon this momentum with the addition of leading investors with extensive expertise in reproductive medicine,” said Dr Dina Radenkovic, co-founder and CEO of Gameto.

“These funds will support our late stage clinical development in the US, post-market surveillance outside the US and the creation of a commercial operations function.

“We are honoured to have added the teams at Two Sigma, RA Capital, and others to our stellar investor base, and we’re pleased to see increased investor confidence in our platform technology and a recognition of the pressing need for modern treatments in the historically underfunded women’s health space, despite a challenging market.

“I believe that each small step we take in investing in women’s health can lead to a giant leap in medical breakthroughs and innovation.”

Dusan Perovic, partner at Two Sigma Ventures, said: “Gameto’s pioneering approach to IVF has the potential to impact families and societies on a global scale.

“In addition to making treatments much easier and more accessible for women, Gameto’s advanced IVF/egg-freezing solution addresses a massive societal need as we’re living longer and looking to start families later in life while facing rising female and male infertility rates.

“There’s also a growing demand for IVF from a broader group of people, such as those with certain genetic disorders now discoverable by carrier screening, and single and same-sex parents starting families, to name a few.

“By harnessing cutting-edge breakthroughs in genetic sequencing and cellular engineering – tools that didn’t exist until recently – Gameto is poised to upend traditional IVF treatments to make them more accessible, convenient, and faster for anyone to start a family.”

Laura Stoppel, principal at RA Capital Management, shared: “It’s astounding how little innovation has gone into improving IVF over the past 45 years.

“Gameto is a pioneer in the women’s health industry, and we believe Fertilo represents a much-needed option for women as they navigate their fertility journey.”

Peter Kolchinsky, managing partner of RA Capital Management, added: “This investment is among the most personal any investor can make.

“Many at our firm have been blessed by what IVF makes possible, and know the ordeal that women tolerate at the outset of that journey just to conceive.

“To contemplate the importance of easing that burden, of expanding the freedom of many to have children when they are ready, it’s hard to overestimate the potential impact of such an advance on humanity, for all of our society, for the rest of time.”