Materna Medical Completes First Close of Series B2 Financing Round

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Materna Medical, Inc., a leading innovator in women's pelvic health solutions, has announced the completion of the first close of a $20 million Series B2 financing round. The round was led by InnovaHealth Partners and other key existing investors included Wavemaker Three-Sixty Health, Kimera Limited, Women's Venture Capital Fund, Golden Seeds, Band of Angels, and Houston Angel Network.

"Materna is a first mover, aiming to transform the standard of care in labor and delivery. Imagine a world in which women aren’t injured while delivering vaginally," commented Tracy MacNeal, Chief Executive Officer for Materna Medical. "Our nation’s maternal health crisis is a clarion call for new obstetrical technologies, and Materna is leading the way."

The company has successfully reached several key milestones, including obtaining over-the-counter FDA clearance for its first commercial product, the Milli Vaginal Dilator. Additionally, clinical data from an expanded feasibility study of Materna’s second product, Materna Prep, shows substantial promise in the potential to reduce pelvic floor injury rates for women delivering vaginally.

Dr. Ariella Golomb, Materna’s Board Chair and Partner at InnovaHealth Partners added, "We are pleased with the Company’s progress, excited about the feasibility data and look forward to its publication later this year. The funds from Series B2 will be used to obtain FDA marketing authorization for Materna Prep and support the commercial launch of this transformative technology.”

For more information on Materna Medical, visit MaternaMedical.com.

About Materna Medical

Materna Medical is a novel OBGYN platform company defining a $6B market with core technologies addressing unmet needs in women's pelvic health. With headquarters in Mountain View, California, Materna pulls from the top minds in MedTech to truly transform the standard of care in OBGYN. With a diverse team of engineers, scientists, researchers, and commercial leaders, Materna Medical’s mission is to empower women to protect their pelvic health.

Our first product, Milli, is vaginal dilator to support patients suffering from vaginismus and related painful sex. In 2019, the Milli device launched as a wellness trainer and, in 2023, received FDA clearance to sell over the counter, enabling streamlined access to people suffering from vaginismus. Milli outcomes are being studied in a post-market prospective virtual study named POMPOM.

Materna’s second product, Materna Prep, is an investigational device used during labor and is intended to reduce pelvic floor muscle injury during vaginal delivery. This product is being studied in the EASE trial, a large, randomized controlled trial running in 20 top US hospitals. Materna aims to transform the standard of care in labor and delivery by protecting pelvic floor health for moms.