Femasys, which is developing products and medical devices for women's healthcare, filed on Friday with the SEC to raise up to $40 million.
Femasys is focused on transforming women's healthcare by developing novel solutions and next-generation advancements to address severely underserved areas. The company's initial focus is reproductive health, and its two lead product candidates are FemBloc for permanent birth control and FemaSeed as an artificial insemination infertility treatment. Its permanent birth control solution combines FemBloc with its proprietary FemChec product candidate, and the solution is currently in a small IDE trial. The company plans to submit the results of the trial along with the design for the pivotal trial that it expects to serve as the clinical support for a potential future PMA application for FemBloc and FemChec to the FDA in the 1H22. Its artificial insemination solution combines FemaSeed with its FDA-cleared and marketed FemVue product. The company anticipates initiating clinical trials in the 3Q21, with completion expected in the 2H22.
The Suwanee, GA-based company was founded in 2004 and booked $1 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol FEMY. Chardan Capital Markets and JonesTrading are the joint bookrunners on the deal. No pricing terms were disclosed.
