Hera Biotech, a San Antonio, CA-based medical device startup, raised $1.9m in Seed funding.
The round was led by Coyote Ventures, Stella Angels, Althea Group Ventures, and the Kendra Scott Women’s Entrepreneurial Leadership Institute.
The company intends to use the funds to complete an in-patient human clinical study, expand its IP portfolio, and support a regulatory pathway with the US FDA.
Led by CEO Somer Baburek, Hera Biotech was formed to apply advances in biotechnology to address unmet needs in the field of women’s health and reproductive medicine. The company’s initial goal is to commercialize MetriDx™, a novel, non-surgical method for the definitive, early diagnosis and staging of endometriosis.* With MetriDx™, a sample of the patient’s endometrium is collected during an in-office procedure – similar to a pap smear but in the uterus, eliminating the need for surgery. The test’s configuration uses micro-fluidic analysis of single cells obtained from the patient to definitively diagnose and stage endometriosis.
Hera intends to kick off a Series A raise of $15 million in late 2022 to support commercial launch of its product in 2024. While pursuing FDA clearance, MetriDx™ will initially be offered to both OB/GYN practices and those in the fertility solutions market as a laboratory developed test (“LDT”). MetriDx™ can also be utilized as a screening test in OB/GYN practices, in fertility clinics and by reproductive endocrinologist practices.
FinSMEs
25/08/2022