Women’s health startup Mammogen has announced the closing of its $2M seed round. The round was oversubscribed by a diverse group of high-net-worth investors, comprising 52% women, members of the LGBTQ+ community, and veterans from the US Armed Forces, according to the company.
“The vast diversity across our investor base is evidence that the world is ready for a truly differentiated women’s health narrative,” stated Mammogen Chief Executive Officer, Elizabeth Cormier-May. She went on to say, “We are uniquely integrating data, science and the lived experiences from the patients that we serve into all ongoing product development efforts related to our flagship breast cancer program. Our objective is to detect earlier, diagnose easier and treat more comprehensively for the nearly 100M women who are currently underserved by existing standards of care.”
“Most importantly, we are doing all of this with the overwhelming support of our community from day one. These differentiators not only resonated deeply with our shareholders, but they will significantly contribute towards our objective of becoming the world’s leading powerhouse in women’s health,” continued Cormier-May.
In addition to its recent funding announcement, the company is introducing its proprietary genTRU liquid biopsy platform, a novel RNA-based technology that will house the company’s suite of women’s health diagnostics, with its flagship non-invasive breast cancer offering falling under the genTRU breast nomenclature. The genTRU breast program consists of two initial diagnostic tests positioned to unlock screening and reduce negative biopsies for large populations of women who are not being regularly or reliably screened, based on recommended screening guidelines and limitations of existing technologies. To date, the company’s technology has been extensively validated in blood, as well as saliva, and has demonstrated statistical significance toward providing measurable improvement upon current standards of care.
“When you look at the unmet clinical needs that we are addressing with our highly advanced genTRU platform, as well as our focus on addressing the often-unspoken personal needs associated with so many women’s health issues, it’s very clear that our community is equally as important to us as our science,” stated Mammogen founder & IV BioHoldings (IVBH) CEO, Marty Keiser.
“While everyone else is talking end-to-end care, Mammogen is building an end-to-never-end community. The idea is for our community to fuel market adoption and for market adoption to fuel our community, creating a positive feedback loop that both serves patients and accelerates growth,” Keiser continued.
Proceeds from the latest round of financing will fund ongoing clinical development efforts for the genTRU breast program, secure strategic partnerships and alliances and further strengthen and expand the company’s existing intellectual property portfolio.
