AblaCare, a Paris, France-based medical device company, raised €10m in Series A financing.
Sofinnova Partners made the investment.
The company intends to use the funds to advance its clinical and regulatory programs in Europe and the United States. Concurrent with the financing, Andrew Weiss, President and CEO at ReCor Medical, has been named chairman of the board of directors for AblaCare.
Led by newly appointed CEO Jodie Fam, AblaCare AblaCare has developed minimally invasive ablation technology designed to restore ovulation in women with infertility related to polycystic ovary syndrome (PCOS). Its “ovarian rebalancing” procedure is designed to help the body to ovulate as it naturally would through a one-time intervention performed in the medical clinic.
It is currently being evaluated in the ULTRA clinical trial (clinicaltrials.gov: NCT03760926).
The company was created, seeded and incubated by MD Start II and participated in the selective MedTech Innovator Accelerator program.
Fam brings more than 20 years of medical device experience leading early stage medical device product development, market access and commercialization for major medtech companies and several venture-backed startups. She has held top management roles at Concentric Medical (acquired by Stryker), Medina Medical (acquired by Medtronic) and CardioKinetix, as well as senior sales and marketing positions with Johnson & Johnson, Guidant Corporation and Mallinckrodt Medical.