May Health Raises $11.7M to Advance its Novel Technology to Treat PCOS-related Infertility

New investor Nexpring Health™ joins existing investors, including Sofinnova, Bpifrance, and Trill Impact

MENLO PARK, Calif.--(BUSINESS WIRE)--May Health, a medical device company dedicated to helping women living with polycystic ovary syndrome (PCOS), today announced that it raised €10 million ($11.7M) with participation from current investors, including Sofinnova Partners, Trill Impact, and Bpifrance, as well as new investor Nexpring Health™. Nexpring Health is a global leader in assisted reproductive technologies (ART) solutions, focused on advancing the future of fertility care. The company will use funds from this raise to drive completion of its pivotal U.S. Investigational Device Exemption (IDE) trial, REBALANCE, and will also support launch planning in Europe for the company’s Anavi™ System, which received CE Mark certification under the European Union’s Medical Device Regulation (EU MDR) in October 2025.

Affecting 10-13% of women worldwide, PCOS is the most common endocrine condition among reproductive-aged women and a leading cause of female infertility.^1,2 Women with PCOS-related infertility often struggle to become pregnant because they are unable to ovulate consistently or at all.³

May Health’s Anavi System enables a one-time, office-based procedure intended to restore ovulation in women with PCOS-related infertility who do not respond to, are contraindicated to, or decline first-line therapies. The company is advancing development of this novel treatment approach in the U.S. under its REBALANCE pivotal IDE trial in eligible women with PCOS-related infertility. The study is designed to support submission to the U.S. Food and Drug Administration (FDA) for marketing authorization.

“For too long, women with PCOS-related infertility have needed more options to support their family-building journey,” said Colby Holtshouse, President and Chief Executive Officer of May Health. “With the continued support of our existing investors, we are making significant progress enrolling the REBALANCE trial and preparing to bring the Anavi System to market in Europe and the United States. We are pleased to welcome Nexpring Health to the syndicate, and we celebrate the strong mission alignment between our organizations.”

“May Health is addressing a critical gap in modern infertility care,” said Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners. “By targeting the underlying drivers of PCOS-related infertility, the company is reshaping the treatment paradigm for millions of women worldwide. We are proud to support a world-class team advancing meaningful progress in women’s healthcare.”

“At Nexpring Health, we believe our role as a global leader in ART solutions goes beyond the products we make. It’s about advancing fertility care in every way we can, for the clinicians on the front lines, for the embryologists working tirelessly in the lab, and ultimately, for the patients whose hopes and dreams depend on this progress,” said Wil Boren, Chief Executive Officer of Nexpring Health. “May Health is doing exactly the kind of work that can change patient outcomes, expand clinical options, and move this field forward, and we are proud to stand with them.”

About the REBALANCE Study

The REBALANCE Study (NCT06206746) is an ongoing prospective, multicenter, randomized controlled trial evaluating the safety and effectiveness of May Health’s technology for restoring ovulation in eligible women with polycystic ovary syndrome (PCOS)-related infertility. The study is currently recruiting women ages 18–40 who have been diagnosed with PCOS and who have failed, are contraindicated for, or decline first-line ovulation-induction therapies. More than 15 fertility centers across the United States are enrolling participants. Learn more at www.mayhealth.com/rebalance-study.

About May Health

May Health is a medical device company dedicated to expanding treatment options for women living with polycystic ovary syndrome (PCOS). The company is led by a team of experienced medtech and women’s health entrepreneurs and executives with deep expertise in product development, clinical validation, regulatory strategy, and commercialization. Founded as Ziva Medical, May Health evolved through the Paris-based accelerator, MD Start, and previously operated as Ablacare before becoming May Health. A French company with U.S. headquarters in Menlo Park, California, May Health is proud to have Sofinnova Partners, Bpifrance, Trill Impact, and Nexpring Health as lead investors. For more information, visit mayhealth.com and follow us on LinkedIn.

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 manages over €4 billion in assets. For more information, please visit: sofinnovapartners.com.

About Trill Impact

Trill Impact is a European private markets firm with €1.4 billion in assets under management, investing in companies that provide solutions for a Sustainable Planet, a Resilient Society and for Healthy People. Trill Impact aims to deliver attractive financial returns to its investors, by exclusively making investments that matter for current and future generations. 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 Nexpring Health

Nexpring Health is a leading global ART solutions partner, uniting industry leaders into one powerful force dedicated to advancing fertility care. With a commitment to redefining the future of ART, Nexpring Health delivers high-quality, comprehensive ART solutions designed to simplify complexity, reduce variability, and drive consistent, confident outcomes in every cycle. Guided by core pillars of Service, Quality, Trust, and Progress, Nexpring Health ensures that embryologists, clinicians, and fertility clinics have the innovative tools and support they need, because every embryo, every procedure, and every cycle counts.

• Learn more at www.nexpringhealth.com
• Follow us on LinkedIn

References:

1. Teede, H., et al. (2023). Recommendations from the 2023 international evidence-based guideline for the assessment and management of polycystic ovary syndrome. Human Reproduction, 38(9), 1655–1679. https://doi.org/10.1093/humrep/dead156.
2. Legro RS, Kunselman AR, Brzyski RG, et al. (2012). The Pregnancy in Polycystic Ovary Syndrome II (PPCOS II) trial: Rationale and design of a double-blind randomized trial of clomiphene citrate and letrozole for the treatment of infertility in women with polycystic ovary syndrome. Contemporary Clinical Trials. 33(3):470-481. https://doi.org/10.1016/j.cct.2011.12.005.
3. Wang, K., Li, Y., & Chen, Y. (2023). Androgen excess: a hallmark of polycystic ovary syndrome. Frontiers in Endocrinology, 14, Article 1273542. https://doi.org/10.3389/fendo.2023.1273542.