Novocuff, Inc., a medical device technology company focused on improving pregnancy outcomes and minimizing the risk of preterm birth, has secured a $26 million series A funding round to fuel growth and support its pivotal clinical trials in the US.
The round was spearheaded by AXA IM Alts via its subsidiary, Global Healthcare Private Equity Strategy, supported by a significant investment from Laerdal Million Lives Fund.
The round also featured remarkable participation from existing and new investors, such as RH Capital, Laborie, March of Dimes, and Avestria Ventures. Co-founded in 2021 by Amelia Degenkolb and Donald Lee, the company has received significant financial support since its launch with $2 million capital.
As part of the investment deal, Curt LaBelle, currently heading Healthcare Private Equity at AXA IM Alts, Vice President of Global Health Investing at AXA IM Alts Lilly deSouza Burr, and Becca Shmukler, from the Laerdal Million Lives Fund, joined the Novocuff Board chaired by Shacey Petrovic.
According to the company’s announcement, the proceeds of the financing round will support its growth efforts, including team expansion, multicenter pivotal clinical trials in the US by 2025, marketing authorization, and commercialization.
Novocuff New Technology to Minimize the Risk of Preterm Birth
Novocuff is developing an innovative medical device system known as the Novocuff Cervical Control System (CCS) to address the leading causes of preterm births, including cervical shortening and Premature membrane rupture (PPROM), which are common among many expectant women.
The novel technology-backed medical device aims to close and stabilize the cervix, retain amniotic fluid in the womb, and help sustain cervical length to extend pregnancy.
Preterm birth is a common phenomenon affecting millions of women globally. In 2020 alone, the condition resulted in about 1 million deaths, according to the World Health Organization (WHO).
