Materna Medical announced the successful close of its $5 million B3 financing round. The funding positions the company for a pivotal year of clinical, commercial, and operational advancement.
The round was led by InnovaHealth Partners, Wavemaker360 Health, and Band of Angels, with continued support from existing investors.
Materna Medical said the new capital will support several key milestones, including completion of the EASE pivotal trial readout, expanded Milli channel access, and preparations for the anticipated launch of the Ellora Obstetrical System. The company will also use the funding to build out commercial manufacturing capabilities and advance market access strategies.
The company’s first-in-class reimbursement code is now active, which is expected to support launch preparations for Ellora. Materna said the financing will help it complete pre-commercial activities needed to bring the Ellora Obstetrical System to market.
Materna Medical is an OBGYN platform company focused on technologies that address unmet needs in women’s pelvic health. Its first product, Milli, is a vaginal dilator designed to support patients suffering from vaginismus and related painful sex. Milli launched as a wellness trainer in 2019 and received FDA clearance in 2023 to sell over the counter.
The company’s second product, Ellora, is an investigational device used during labor and intended to reduce pelvic floor muscle injury during vaginal delivery in first-time mothers. Ellora is being studied in the EASE trial, a large randomized controlled trial across 20 major U.S. hospitals.
With the new financing, Materna Medical plans to continue advancing its mission of improving outcomes in women’s pelvic health and transforming the standard of care in labor and delivery.
KEY QUOTES:
“The company continues to consistently achieve key milestones, and we are energized by the strong ongoing support from our investors as we advance toward commercialization.”
Ariella P. Golomb, MD, Chair of the Board of Directors at Materna Medical
“We are thrilled to be entering this next phase as we prepare for the Ellora launch, bringing an important innovation to women’s health.”
Tracy MacNeal, President and CEO of Materna Medical
