Pelvital, has announced the successful closure of an additional $2.32 million in its seed-plus funding round. This brings the total funding raised to $5 million, exceeding the initial target by $500,000. The investment will accelerate the commercialization of Flyte, Pelvital’s FDA-cleared treatment for stress urinary incontinence (SUI) and weakened pelvic floor muscles.
“Completing this round is an important step in continuing Pelvital’s unwavering dedication to provide women with innovative solutions for pelvic health, including the treatment of SUI,” says Lydia Zeller, President and CEO of Pelvital. “This funding will play a crucial role in accelerating our commercialization of Flyte with a strong emphasis on expanding payor coverage and enhancing clinical education and clinician awareness.”
The investment round was led by Boomerang Ventures, a venture capital firm focused on transformative connected health. With this final close, Pelvital welcomes new investors including Pier 70 Ventures, Life Science Angels, Tech Coast Angels Orange County, and Blue Pacific Fund.
Concurrent with the close, Preetha Ram, PhD, Managing Partner at Pier 70 Ventures, joins the Pelvital Board of Directors. “Joining Pelvital’s Board alongside this investment round is truly an honor,” she shares. “Pier 70 and I are thrilled to be part of this transformational opportunity, as Pelvital’s mission aligns beautifully with our dedication to support disruptive technologies that shake up the status quo in healthcare. Pelvital’s pioneering work is shaping a future where women’s health receives the attention and innovation it deserves with novel medical devices like Flyte.”
“We are thrilled for the successful completion of this round as we aim to tackle the most pressing healthcare challenges,” explains Oscar Moralez, Founder and Managing Partner of Boomerang Ventures. “Our participation aims to address the chronic underfunding in women’s healthcare. Investing in Flyte, a truly groundbreaking treatment, addresses underserved pelvic health issues like SUI and contributes to raising vital awareness.”
Two published clinical trials have validated Flyte’s safety, efficacy, and durability of treatment effect for women with SUI. Most recently Pelvital published a paper in Therapeutic Advances in Urology, showing that 71 percent of study participants achieved dry or near dry conditions as evidenced by a reduction in 24-hour pad weight after using Flyte for between 2 and 12 weeks.
Flyte is effective for mild, moderate, and severe SUI. Typical treatment is only five minutes per day for six weeks. While Flyte is FDA-cleared for over-the-counter use, the majority of units are prescribed by clinicians.
