TMRW Life Sciences, the creator of the only FDA-cleared automated specimen management and storage platform for frozen human sperm, eggs, and embryos, has successfully closed a $28+ million Series D equity financing round. This funding aims to meet the increasing demand from fertility clinics for safe and more accurate cryostorage solutions.
The financing round was led by 5AM Ventures, with participation from FIOS Venture Holdings, DF Investment Partners, Transformation Capital, Life Sciences Innovation Fund, and Casdin Capital. Additional support came from GV (formerly Google Ventures) and actress and advocate Amy Schumer, among others.
“5AM Ventures is proud to continue to invest in TMRW to support innovation, growth and expansion. With the use of fertility treatments growing exponentially, the adoption of state-of-the-art specimen management and storage technologies that help reduce risk and improve safety and accuracy for patients has never been more important,” said Andy Schwab, Managing Partner of 5AM Ventures.
Since its inception in 2018, TMRW Life Sciences has expanded its offerings from the world’s first automated on-site storage management solution to a variety of both onsite and offsite solutions. The company’s trajectory took a pivotal turn in February when an incident at a clinic in Alabama led to a ruling from the state’s Supreme Court, highlighting the potential catastrophic consequences of storage management mistakes.
Recent peer-reviewed scientific publications have underscored the importance of improving the safety and security of frozen embryos, eggs, and sperm. TMRW now partners with more than 60 leading fertility clinics, serving over 39,000 patients and managing more than 260,000 frozen specimens.
“The management and storage of precious cells like sperm, eggs, and embryos is too important to leave to antiquated systems developed in the last century,” said Louis Villalba, Chief Executive Officer at TMRW. “We are thrilled to have the continued support of such a distinguished group of investors fast-tracking our mission to transform specimen management and storage and our ability to execute on soaring clinic demand.”
More than one million frozen eggs and embryos are stored in fertility clinics across the United States every year. The increasing volume of frozen specimens is overwhelming legacy storage systems that fertility clinics have relied upon for decades. There is a growing demand for new solutions to upgrade, optimize, and safely scale specimen management and storage.
TMRW is the only storage provider in the United States offering a fully integrated technology platform that helps fertility clinics improve accuracy, reduce risk, enhance operational efficiency, increase revenue, and reduce costs. The company’s platform is the only fertility cryostorage solution with FDA clearance, featuring more than 25 years of transaction testing, HIPAA-compliant military-grade data security, SOC II compliance, and ISO and HITRUST certifications. It reduces potential points of failure by 94% compared to existing manual systems.
