OCON Therapeutics, a company at the forefront of transforming drug delivery, announced the successful completion of a $10 million investment round. This funding round was led by RH Capital, with participation from Features Capital, Astia Angels, Exerte Partners, grants from the Israeli Innovation Authority and other business angels.
This funding round will enhance OCON’s ability to offer better solutions for treating prevalent uterine pathologies, reinforcing its vision to establish a safer standard of care through its proprietary 3D drug delivery system.
OCON Therapeutics is continuing to lead in the development of sophisticated drug delivery systems for addressing the most prevalent pathologies in women’s health. Utilizing its validated 3D stent drug delivery frame IUB, which has demonstrated safety and usability in 150,000+ women with its IUB Ballerine, OCON is set to advance its IUB SEAD and IUB PRIMA assets. These are designed to address abnormal and heavy uterine bleeding, which affects 15% of the global population (1 in 3 women), providing long-term hormonal and short-term non-hormonal options for treatment.
This funding will accelerate OCON’s efforts to deliver solutions that meet the unique needs of women, addressing an overall $35 billion market opportunity while promoting better health outcomes and enhancing quality of life.
OCON successfully completed Phase 2b clinical studies for the IUB SEAD®, designed to tackle abnormal and heavy uterine bleeding affecting 15% of the population globally. And the company is preparing to initiate a USA pivotal study and will commence discussions with the FDA through its IND submission.
The IUB PRIMA is now prepared to address long-term reversible contraception and heavy menstrual bleeding with a set-it-and-forget-it method that is highly effective for women. And with a proof-of-principle working prototype, this funding enables OCON to advance the product, offering a transformative solution for women’s health that finally fit their anatomy.
OCON is dedicated to sustaining its legacy product, the IUB Ballerine, a leading choice for non-hormonal long-term contraception. And the company is finalizing MDR regulatory activities to ensure continued availability across the EU, South America, and Canada. The IUB Ballerine remains a preferred solution for women aged 15 to menopause, thanks to its innovative design and proven effectiveness.
OCON is ramping up to initiate a Series A funding round which will support expanding its product pipeline to tackle long term endometriosis treatment through its IUB STELLA and uterine fibroids using the same innovative sustained drug-releasing platform with its IUB ADIRA. And by doing so, OCON will offer healthcare professionals with a comprehensive suite of products for uterine health and women more modern and safe choices,ensuring versatile and effective treatments for a wide range of conditions that affect up to 80% of women.
KEY QUOTES:
“Our mission at OCON Therapeutics is to create a new standard of care and give women and physicians additional choices that are safe and innovative. We address the most prevalent uterine pathologies, more common than diabetes or heart disease, while ensuring targeted and lower-dose treatments to alleviate side effects and minimize risks associated with surgeries or non-compliance to oral medication.”
“This latest investment is a testament of our investors’ confidence in OCON’s technology and strategic direction. We are grateful to our investors and excited to advance our clinical programs, expand our product offerings, and bring our innovative solutions to more women around the world.”
– Keren Leshem, CEO of OCON Therapeutics
“As a leader in the industry, OCON’s financing milestone is a tremendous accomplishment for Keren and the team. Features Capital invested in OCON because we believe the IUB is a revolutionary platform for treating a variety of gynecological conditions directly at the target tissue. At Features, we invest in and engage with teams to create breakthrough solutions that radically transform patient outcomes, improve health economics, and bridge health inequities in multi-billion dollar global markets. OCON’s groundbreaking technologies align perfectly with our thesis of Unlocking MedTech.”
– Jenny Barba, Co-Founder and Managing Partner of Features Capital
