Femasys Inc., an Atlanta, GA-based developer of innovative medical devices for the women’s healthcare market, closed a $40m Series C financing.
The Series C syndicate included multiple institutional investors, family offices and a global medical device company.
The funding will be used primarily to support the pivotal testing of FemBloc™.
Led by Kathy Lee-Sepsick, President and CEO, and Mimi Zieman, M.D., Vice President of Clinical Affairs, Femasys is advancing FemBloc™, a non-surgical permanent contraception solution designed to provide women with an option delivered exclusively in the physician’s office.
The company has gained U.S. Food and Drug Administration (FDA) Investigational Device Exemption (IDE) approval to launch a prospective, multi-center, clinical trial to evaluate the safety of the FemBloc permanent contraceptive system while preventing pregnancy.
The clinical trial, which will enroll women who desire permanent birth control by occlusion of the fallopian tubes, will be Femasys’ first trial to evaluate the complete FemBloc contraceptive system for its intended use.