Materna Announces Successful $5 Million B3 Financing to Support Transformational Year Ahead

New capital accelerates clinical milestones and commercialization of the Ellora™ Obstetrical System

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Materna Medical today announced the successful close of its $5 million B3 financing round, positioning 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.

The funding will enable Materna to complete its EASE pivotal trial readout, expand Milli^® channel access in preparation for the anticipated launch of the Ellora™ Obstetrical System, and build out commercial manufacturing capabilities. The company will also accelerate Ellora launch preparations and advance market access strategies as its first-in-class reimbursement code is now active.

“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,” said Ariella P. Golomb, MD, Chair of the Board of Directors.

“We are thrilled to be entering this next phase as we prepare for the Ellora launch, bringing an important innovation to women’s health,” added Tracy MacNeal, President and CEO of Materna Medical.

With this financing, Materna is well-positioned to deliver pre-commercial activities to bring the Ellora Obstetrical System to market, advancing its mission to improve outcomes in women’s pelvic health.

About Materna Medical

Materna Medical is a novel OBGYN platform company defining a $25B 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 a 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 have been studied in a post-market prospective virtual study named POMPOM.

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