AblaCare Announces Series A Financing of €10 Million by Sofinnova Partners for Innovative Infertility Treatment and Appoints Jodie Fam as CEO
Funds to Support European Feasibility Study for Device Designed to Restore Ovulation
in Women with Infertility Related to Polycystic Ovary Syndrome
PARIS — July 9, 2019 — AblaCare, a medical device company dedicated to transforming women’s health and fertility care, announced today that it has raised €10 million in Series A financing from Sofinnova Partners. The company also announced the appointment of seasoned medical device executive Jodie Fam as CEO.
AblaCare’s treatment, a minimally invasive procedure called “ovarian rebalancing,” uses ablation to restore ovulation in women with infertility related to polycystic ovary syndrome (PCOS). This new technology transforms an older, invasive surgical method, called “ovarian drilling,” into a minimally invasive and much simpler office-based procedure.
Ablation of ovarian tissue eliminates excess androgen-producing tissue in the ovary. Following this one-time treatment, spontaneous ovulation occurs in up to 75% of women within six months, with up to 55% of women achieving pregnancy in the same timeframe,[i] with a natural conception experience.
As CEO, 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.
“We’re pleased to become investors in AblaCare’s Series A financing. We believe the company has the right technology to address one of the primary causes of infertility,” said Antoine Papiernik, Managing Partner at Sofinnova Partners. “In addition, we are thrilled to have Jodie leading the AblaCare team. She has been instrumental in bringing a number of early-stage, paradigm-shifting medical technologies to market in diverse and competitive environments.”
Up to 15% of women are diagnosed with PCOS, half of which face infertility.[ii] The condition is caused by the overproduction of male hormones, which prevents the development and release of mature eggs. Current treatment options are complex, costly and emotionally trying.
“AblaCare addresses the number-one cause of ovulation-related infertility, allowing women with PCOS to ovulate as they naturally would—without using fertility medications and hormones,” said Fam. “We are proud that a premier life sciences investor recognizes the enormous opportunity AblaCare represents to transform innovations for women’s health.”
Proceeds from the financing will be used to advance the company’s 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.
AblaCare is a medical device company offering a minimally invasive ablation technology designed to restore ovulation in women with infertility related to polycystic ovary syndrome (PCOS). AblaCare’s “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). AblaCare was created, seeded and incubated by MD Start II and participated in the selective MedTech Innovator Accelerator program. The company is headquartered in Paris. For more information, visit www.AblaCare.com
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together a team of professionals from all over Europe, the U.S. and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners invests across the Life Sciences value chain as a lead or cornerstone investor, from very early stage opportunities to late stage/public companies. It has backed nearly 500 companies over more than 45 years, creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management. For more information, please visit: www.sofinnovapartners.com