Femasys Inc., a Atlanta, GA-based developer of innovative medical devices for the women’s healthcare market, raised a $10.2m financing round.
The round was led by Legacy Capital Partners, Salem Partners, and Mario Family Partners, the family offices of life sciences industry veterans John Adams, Jr. and Dr. Ernest Mario. In conjunction with the funding, Mr. Adams, former CEO of Adams Respiratory Therapeutics, joined the company’s board of directors.
The company intends to use the funds to invest in the people and programs necessary to achieve the Investigational Device Exemption (IDE) milestone for FemBloc and expand commercialization globally for its diagnostic products.
Led by Kathy Lee-Sepsick, President and CEO, Femasys has developed a non-surgical female sterilization device (FemBloc™ Permanent Contraceptive System) that allows physicians to deliver in their office a biomaterial through a catheter based system to permanently block the fallopian tubes that substantially reduces patient risks and costs by eliminating the use of anesthesia and permanent implants. The company also provides products for diagnosis of infertility (FemVue® Saline-Air device) and cervical cancer (FemCerv® Endocervical Sampler).