FemTherapeutics bags CA$2.5M for better women’s health tech by AI

 FemTherapeutics bags CA$2.5M for better women’s health tech by AI

In the photo: FemTherapeutics Co-founders L-R: Negin Ashouri (CTO), Mihnea Gangal (CMO), Inara Lalani (CEO). Image courtesy: FemTherapeutics

FemTherapeutics, a Montreal-based women’s health tech company, recently secured CA$2.5M (US$1.8M) in funding. The company has a novel approach to address Pelvic Floor Disorders (PFDs) using AI. It aims to further develop the technology offerings using the funds​.

2048 Ventures led the funding round, while Investissement Quebec, The51 Ventures, Sheboot, and various physicians and angel investors participated. FemTherapeutics will use the additional capital to further develop its platform and devices and initiate pivotal clinical studies. In addition, it plans to expand its team, IP portfolio, and R&D efforts.

The femtech company says that a significant proportion of women experience PFDs, such as incontinence and Pelvic Organ Prolapse (POP), during their lifetime. The disorders are currently underserved in medical innovation, leading to a notable gender disparity. Traditional vaginal pessaries have high discontinuation rates due to complications, and surgical procedures have high failure rates and risk of complications. These current treatment options are largely ineffective.

FemTherapeutics aims to address these issues with their customizable gynaecological prosthetic, or vaginal pessary, which provides symptomatic relief to pelvic health conditions. The startup’s co-founders – Inara Lalani, Negin Ashouri, and Dr. Mihnea Gangal – recognized the need for improved treatment options in this field after participating in the Montreal Surgical Innovation Program in 2019​.

Also read: Chamath-backed Perimeter Medical Imaging AI appoints new CEO

AI in femtech: FemTherapeutics revolutionizing women’s health tech

Founded in 2019, FemTherapeutics has developed a platform using cloud computing and artificial intelligence. It can visualize each patient’s condition in 3D software, propose pessary designs tailored to the patient’s unique anatomical characteristics, and utilize 3D printing techniques to create the devices from biocompatible silicone​. It also utilizes 3D printing techniques to create the devices from biocompatible silicone.

The technology from FemTherapeutics has several potential applications in women’s health. These femtech applications include preterm birth prevention, post-cancer therapy treatment, and the development of custom menstrual and sexual wellness products. The business operates on a B2B2C model, working closely with physicians to deliver its innovative solutions to patients​.

Since its inception, FemTherapeutics has raised a total of CA$3.2 million (US$2.3 million), including non-dilutive financing. It has also been recognized as one of the Top 20 Most Innovative Companies in Canada by the CIX Canadian Innovation Exchange.

As per Tracxn data, Axonics (US), Renovia (US) and ConvaTec (UK) are some other notable companies in the domain.

Also read: BenchSci raises CA$95M funding for better drug discovery AI


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