TEL AVIV, Israel, Oct. 19, 2022— FEMSelect, the creator of EnPlace®, a minimally invasive, meshless approach to pelvic floor ligament fixation, announced today the completion of its USD 9 million Series B funding. Robin Hood Ventures, Mid Atlantic Bio Angels (MABA), MEDA Angels, Keiretsu Forum Mid-Atlantic, RAD BioMed, Keiretsu Capital, and Transpacific Venture Partners co-led the round.
New Age Ventures, based in New York, is a globally active venture studio that manages investments in healthcare, medical devices, and digital health, among other sectors. Following the investment, New Age Ventures will join the FEMSelect Board of Directors. TriVentures is a global healthcare venture capital fund based in Israel and Silicon Valley that has led FEMSelect’s financing from the beginning.
FEMSelect is a woman-led company on a mission to make a long-term difference in women’s health by providing innovative technologies that deliver consistent results in a patient-centric manner and significantly improve outcomes for women. For more information on the EnPlace® system, click here.
The FDA has cleared FEMSelect’s EnPlace® system approach for pelvic floor ligament fixation to manage symptomatic uterine prolapse, a complication affecting nearly 50% of women over the age of 50. Current procedures are invasive and frequently involve uterine removal, which many women prefer to avoid. The technology allows for a minimally invasive procedure within 30 minutes, and clinical studies have shown that women can resume normal activities within a few days.
The Series B Round will support EnPlacegrowth ®’s market penetration, primarily in the United States. The funding follows EnPlacerecent ®’s successful United States and Israel launches. It is supported by positive clinical data on EnPlaceapical ®’s repair success rate of 92.3% at four years, which was published in the peer-reviewed International Journal of Gynecology and Obstetrics.
Over the past year, FEMSelect has collaborated with leading women’s healthcare company LiNA Medical USA to educate physicians on the technology. EnPlace® received a procedure code from its Centers for Medicare and Medicaid Services (CMS) earlier this year, allowing healthcare facilities to receive reimbursement for the procedure. EnPlace® is currently present in more then 25 states across the United States.’
Debbie Garner, Co-CEO of FEMSelect:
“This investment demonstrates our commitment to our team and the EnPlace® system, allowing us to expand the medical and patient communities and serve many more women seeking a minimally invasive treatment option.”
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