OCON Therapeutics has announced the successful completion of a $10 million investment round led by RH Capital. This funding will enhance OCON’s efforts to develop treatments for prevalent uterine pathologies using its proprietary 3D drug delivery system.
The company focuses on developing drug delivery systems to address significant issues in women’s health. The company’s 3D stent drug delivery frame, IUB, has been used by over 150,000 women through its IUB Ballerine. Building on this success, OCON now plans to advance its IUB SEAD and IUB PRIMA assets, targeting abnormal and heavy uterine bleeding, which affects 15% of the global female population. These products offer both long-term hormonal and short-term non-hormonal treatment options.
Keren Leshem, CEO of OCON Therapeutics, stated: “Our mission at OCON Therapeutics is to create a new standard of care and give women and physicians additional choices that are safe and innovative. We address the most prevalent uterine pathologies, more common than diabetes or heart disease, while ensuring targeted and lower-dose treatments to alleviate side effects and minimize risks associated with surgeries or non-compliance to oral medication.”
The recent investment round included participation from Features Capital, Astia Angels, Exerte Partners, grants from the Israeli Innovation Authority, and other business angels. These contributors bring a wealth of expertise and a strong commitment to advancing women’s health solutions, supporting OCON’s efforts to meet a $35 billion market opportunity while improving health outcomes and quality of life for women globally.
OCON has completed Phase 2b clinical studies for the IUB SEAD, aimed at treating abnormal and heavy uterine bleeding. The company is preparing to initiate a pivotal study in the USA and will begin discussions with the FDA through its IND submission.
The IUB PRIMA is designed to address both long-term reversible contraception and heavy menstrual bleeding with a set-it-and-forget-it approach, providing an effective and convenient solution for women. With a working prototype, this investment will enable OCON to advance this product further, offering a transformative solution tailored to women’s anatomical needs.
OCON remains committed to its legacy product, the IUB Ballerine, a leading non-hormonal long-term contraception option. The company is finalizing MDR regulatory activities to ensure continued availability across the EU, South America, and Canada.
The company is now preparing for a Series A funding round to expand its product pipeline, focusing on long-term endometriosis treatment with its IUB STELLA and uterine fibroids using the IUB ADIRA. These sustained drug-releasing platforms will provide healthcare professionals with a comprehensive suite of products, offering versatile and effective treatments for a wide range of conditions affecting up to 80% of women.
“This latest investment is a testament to our investors’ confidence in OCON’s technology and strategic direction,” added Leshem. “We are grateful to our investors and excited to advance our clinical programs, expand our product offerings, and bring our innovative solutions to more women around the world.”
