A women-led medical device company has announced the launch of a crowdfunding campaign aimed at raising additional funds to develop its technology for treatment of uterine fibroids. Ablatus Therapeutics’ Luna patented core ablation technology lays the groundwork for a minimally invasive solution that aims to transform women’s health globally.
Ablatus is a spinout from the Norfolk and Norwich University Hospitals NHS Foundation Trust in the UK. The company is backed by experienced angels and VC investors. The company has already secured £3million of funding from investors in an earlier financing round led by Mercia Ventures, Low Carbon Innovation Fund and experienced angel investors. It is now opening the round to its community and new investors to raise additional financing. This funding aims to develop Luna, providing a ray of hope to millions of women affected by uterine fibroids.
Uterine fibroids remain a vastly underserved global health issue, affecting up to 80% of women by the age of 50. While not always symptomatic, fibroids can cause debilitating pain, heavy menstrual bleeding, abdominal swelling, and complications during pregnancy and labour. These conditions impose a staggering up to $34.4 billion annually in the US alone.
Current treatments, including contraceptive pills and invasive surgery, often fall short of providing a comprehensive and fertility-preserving solution. Indeed many women in the US delay treatment for up to three years to avoid invasive procedures. Ablatus says this highlights the urgent need for innovative solutions, such as Luna.
Dr. Chung Looi, CEO of Ablatus Therapeutics, said: “Our mission is to enable millions of women access to a safe and cost-effective treatment for uterine fibroids so they can enjoy a better quality of life whilst preserving their fertility. We’re inviting members of the public to join us today in this transformative journey by pledging to our crowdfunding campaign. Your contribution will help us complete the development of our pioneering FemTech solution for fibroids. Everyone knows someone affected by fibroids; with Luna, we’re ensuring that future generations won’t have to endure unnecessary suffering.”
The crowdfunding campaign is live now. For further information on how to pledge and pre-register interest visit https://www.crowdcube.com/early-access/luna-by-ablatus