Novocuff, a medical device company focused on improving pregnancy outcomes and reducing preterm births, has successfully closed an oversubscribed $26 million Series A funding round. The round was led by AXA IM Alts, through its Global Healthcare Private Equity Strategy, with a $14 million investment. Significant participation also came from Laerdal Million Lives Fund, along with continued support from existing and new investors including Laborie, RH Capital, Avestria Ventures, and March of Dimes.
The proceeds from this funding will support Novocuff’s growth plans, including the expansion of its team, execution of a U.S. multi-center pivotal clinical trial, marketing authorization, and early-stage commercialization. New team members Kathryn Wine, Vice President of Clinical Affairs, and Marissa VanDeVeer, Clinical Engineer, are joining the effort to bring Novocuff’s innovative technology to market.
“We are thrilled to have the support of a strong and mission-aligned group of investors as we enter this exciting next phase of clinical development,” said Amelia “Amy” Degenkolb, CEO and Co-founder of Novocuff. “This funding catalyzes our ability to deliver a solution to a healthcare need for women, their families, and healthcare providers.”
Preterm Premature Rupture of Membranes (PPROM) and cervical shortening are leading causes of preterm birth, affecting millions of families worldwide each year. Novocuff is addressing these critical conditions with a novel approach. The company’s mission is to transform the standard of care and improve pregnancy outcomes for women and their newborns. Novocuff has developed a groundbreaking medical device aimed at stabilizing and closing the cervix to retain amniotic fluid and sustain cervical length, with the goal of extending pregnancy.
“As the leading cause of infant mortality globally, preterm birth is a serious unaddressed global health issue. The near and long-term negative impacts on patients, and the economic burden on health systems, create a pressing situation. Given the lack of solutions currently available, we are thrilled to contribute to Novocuff’s mission to improve pregnancy outcomes. Our investment should enable completion of a U.S. pivotal trial and the introduction of the Novocuff device to global markets, including low- and middle-income countries,” said Curt LaBelle, Head of Healthcare Private Equity at AXA IM Alts.
The investment from AXA IM Alts follows its previous investment into Alydia Health, where Novocuff CEO and Co-founder Amy Degenkolb played a key role. “Preterm birth is the number one cause of infant mortality globally,” said Becca Shmukler, Principal at the Laerdal Million Lives Fund. “When we first met co-founders Amy and Donald and initially invested in the company, we were impressed by their novel technology, expertise, and commitment. Over the last year, our conviction in Novocuff’s potential to reduce the mortality burden associated with preterm birth has only grown.”
“Too many babies are born too soon, which is why preventing preterm birth and poor outcomes for mom and baby is critical to March of Dimes,” said Eric Schaefer, Senior Director of Portfolio Strategy and Mission Investment at March of Dimes. “We are encouraged by Novocuff’s progress to date and look forward to the results from their upcoming clinical trial.”
With the Series A funding secured, Novocuff is set to commence a multi-center U.S. pivotal clinical trial in early 2025. The company is currently identifying potential clinical trial sites and invites interested parties to reach out for more information.
