- Bpifrance and Trill Impact Ventures co-led
the round, joining founding investor Sofinnova Partners, to support
the company’s pivotal REBALANCE study evaluating Ovarian
Rebalancing in women with infertility caused by PCOS
May Health, a clinical-stage medical device company dedicated to
helping those living with the endocrine disorder polycystic ovary
syndrome (PCOS), today announced it has closed a $25 million Series
B financing round, co-led by Bpifrance and Trill Impact with
participation from founding investor Sofinnova Partners, as well as
Avestria Ventures and Kidron Capital Assets LP. Funds will be used
to support the company’s growth and advance its Ovarian
Rebalancing™ therapy through the pivotal REBALANCE Study,
evaluating its potential to address PCOS-related infertility.
“For the millions of women living with PCOS, the physical and
emotional impact of this condition is profound. From fertility
challenges to emotional well-being and physical symptoms, women
with PCOS need more viable treatment options,” said Anne Morrissey,
CEO of May Health. “We are thankful to Bpifrance and Trill Impact
for co-leading this financing round, together with our founding
investor Sofinnova Partners, and to our deep bench of supporters
and advisors for their confidence in our team and growth strategy.
We are eager to continue building on the positive results of our
previous clinical studies as well as this financing milestone as we
work to become a leader in global women’s health and PCOS-related
infertility.”
In conjunction with the financing, Nina Rawal, co-head and
partner at Trill Impact Ventures Advisory, and Jean-Francois Morin,
investment director at Bpifrance, will join May Health’s Board of
Directors.
Nina Rawal, co-head and partner at Trill Impact Ventures, added,
“We see May Health as a great example of a company where commercial
opportunity and impact go hand in hand. Trill Impact is excited to
collaborate with the May Health team and its strong shareholders to
bring their innovative product to women who have suffered from a
lack of treatment options for too long.”
“May Health is charting a new path in fertility care for women
with PCOS with its innovative Ovarian Rebalancing therapy,” said
Jean-François Morin, investment director at Bpifrance. “We are
thrilled to support the company’s effort to bring its new approach
to women with PCOS, including advancing it in the pivotal REBALANCE
Study. With its unique mechanism of action, May Health’s device has
the potential to significantly improve the lives of patients with
PCOS, including but not limited to related infertility issues. We
are committed to supporting May Health to become a leader in the
PCOS space.”
PCOS affects 10% of women.1 It is a serious and lifelong
endocrine condition caused by hormone imbalance, and the leading
cause of female infertility. In women with PCOS, there is a local
disregulation of androgens as compared to estrogens in the ovary,
leading to inconsistent ovulation. In addition to being a common
cause of infertility, PCOS is associated with increased insulin
resistance, Type 2 diabetes, heart disease and stroke. PCOS can
also present challenging day-to-day struggles with irregular
menstruation, acne, thinning scalp hair, excessive body hair
growth, high blood pressure and sleep apnea.
Ovarian Rebalancing is an investigational treatment designed to
restore women’s natural ovulation cycles. The straightforward,
one-time in-office procedure is designed to induce ovulation
through targeted ablation of ovarian tissue using radiofrequency
(RF) energy.
“The May Health team, led by highly accomplished leaders in
women’s health, has been dedicated to bringing new treatment
options to women with PCOS,” said Antoine Papiernik, chairman and
managing partner at Sofinnova Partners and previous chairman of the
May Health board. “We’ve been steadfast supporters of May Health
from the time of the company’s inception by our MD Start medtech
accelerator team in 2017 and are delighted to see Bpifrance and
Trill Impact Ventures co-leading the Series B financing round,
joining us in championing May Health's mission and recognizing the
transformative potential of Ovarian Rebalancing.”
“For years, women with PCOS who struggle with infertility have
sought alternative treatment options that go beyond IVF and
laparoscopic ovarian drilling,” said Dr. Robert Auerbach, OBGYN,
chairman of the May Health board. “Our team is working to develop a
simple and safe procedure that can activate natural ovulation and
help women regain their ability to grow their families. We’re
thankful to our investment partners for their support and look
forward to further research of Ovarian Balancing in the REBALANCE
Study.”
____________________
1 CDC
About the REBALANCE Study
The REBALANCE Study is a prospective, multi-center, randomized
pivotal study of May Health’s Ovarian Rebalancing™ therapy,
designed to evaluate ovarian ablation with Ovarian Rebalancing in
women aged 18-40 who have been diagnosed with PCOS and are
resistant to or are contraindicated to or decline first-line
ovulation induction treatments. More than 15 fertility centers
across the U.S. will participate in the clinical trial. Learn more
at www.mayhealth.com/rebalance-study.
About May Health
May Health is a clinical-stage medical device company committed
to developing treatment options for women living with PCOS. The
company is currently investigating its Ovarian Rebalancing™
treatment in clinical studies. Ovarian Rebalancing is a novel
approach to PCOS-related fertility that has the potential to be a
safe, straightforward option for activating natural ovulation. May
Health is led by a team of serial medtech and women’s health
entrepreneurs and executives with extensive experience in product
development, validation, and launch. The company was founded in
2017 by Sofinnova Partners’ medtech acceleration team, MD Start.
May Health is headquartered in Paris. For more information, visit
www.mayhealth.com and follow us on LinkedIn.
About Trill Impact
Trill Impact is a pioneering Impact House with around EUR 1.2
billion in assets under management across its investment
strategies, Impact Private Equity, Impact Ventures and
Microfinance, with a team of around 55 experienced professionals
based in the Nordics, Germany, Luxembourg and USA. Trill Impact
aims to become a force for positive change through impact private
investments, delivering Real Returns and Lasting Impact for the
benefit of investors, businesses and society at large - encouraging
others to follow. For more information, please visit:
www.trillimpact.com.
About Bpifrance
Bpifrance Investissement is the management company that handles
Bpifrance's equity investments. Bpifrance is the French national
investment bank: it finances businesses – at every stage of their
development – through loans, guarantees, equity investments and
export insurances. Bpifrance also provides extra financial services
(training, consultancy) to help entrepreneurs meet their challenges
from innovation to export. For more information, please visit:
https://www.bpifrance.com/.
Follow us on Twitter: @Bpifrance - @BpifrancePresse
About Sofinnova
Sofinnova Partners is a leading European venture capital firm in
life sciences, specializing in healthcare and sustainability. Based
in Paris, London and Milan, the firm brings together a team of
professionals from all over the world with strong scientific,
medical and business expertise. Sofinnova Partners is a hands-on
company builder across the entire value chain of life sciences
investments, from seed to later-stage. The firm actively partners
with ambitious entrepreneurs as a lead or cornerstone investor to
develop transformative innovations that have the potential to
positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply established
venture capital firm in Europe, with 50 years of experience backing
over 500 companies and creating market leaders around the globe.
Today, Sofinnova Partners has over €2.5 billion under management.
For more information, please visit: sofinnovapartners.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240513656439/en/
Media Contact: Shay Smith | Health+Commerce 707-971-9779
shay@healthandcommerce.com
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