Fresh financing to continue development of robust product portfolio and accelerate commercialization of Freyja's VereSee Device to further innovation in fast-growing women's health market
BOSTON, MA / ACCESSWIRE / June 25, 2024 / Freyja Healthcare, an early-stage medical device company specializing in women's health, has secured $8 million in new funding. This capital infusion will accelerate the development of its innovative product line. The centerpiece of their portfolio is the VereSee™ device, a groundbreaking 2mm safe abdominal access video entry device designed for laparoscopic surgery. This investment aims to propel the commercialization of VereSee™ and drive further advancements in the expanding women's health market. With this latest funding round, Freyja has now raised over $17 million from prominent investors in healthcare technology, highlighting robust confidence in the company's vision and growth prospects.
Since its founding in 2017, Freyja has experienced rapid progress. Freyja's mission is to raise the standard of women's health in both surgical and in-office procedures, enabling physicians to deliver safe and effective care. The company now has four products in advanced stages of development, 17 granted patents and 21 pending patents.
Jón Ívar Einarsson MD, co-founder, and interim CEO of Freyja, underscored the significance of the recent financing round and prioritizing the needs of the women's health market: "Our development approach is crucial in our ability to deliver cutting-edge products and technologies to healthcare professionals and their patients. With this new funding, our primary objective is to attract top-tier talent, exemplified by the addition of Tracy MacNeal to our board of directors, enhance our R&D capabilities, and prepare for commercialization of innovative products that directly address the genuine needs of patients and healthcare providers."
Women's health has gained significant traction during the past few years. The women's health industry is estimated to reach around $60 billion by 2027, growing at a 15.6% compound annual growth rate (CAGR), which exceeds the growth of many sectors of medtech. Furthermore, the vast majority of healthcare decision-making is being made by women, who are spending nearly 30% more per capita than men on healthcare, with a combined purchasing power of $20 trillion per year.
"I'm acutely aware of the unique challenges medtech companies face when bringing products to the women's health space," said Tracy MacNeal, Freyja Board Director and CEO of Materna Medical. "Freyja has built an important portfolio of solutions that alleviate common surgical or in-office pain points experienced by gynecologists and minimally invasive gynecologic surgeons. I am thrilled to be partnering with the Freyja team as it enters its next phase of growth."
"It's an interesting time in women's health, marked by several major players with substantial portfolios in the sector, yet relatively few products addressing conditions that predominantly affect women," remarked Kim Rodriguez, longtime Executive Chairman at Freyja and former CEO of Acessa Health. "Market expansion is fueled by numerous smaller, emerging companies that are meeting patient needs. We are confident that Freyja is poised to capitalize on the multitude of opportunities on the horizon."
The financing round comes on the heels of the company's other notable accomplishments, which include VereSee System 510(k) clearance in May 2024. Freyja will soon begin initial commercialization of the VereSee device, with broad availability expected in the second half of 2024.
About Freyja Healthcare
Freyja Healthcare was founded in 2017, has four products in advanced stages of development, 17 granted patents and 21 pending patents, and is engineering a robust product portfolio focused on safe and effective surgical and in-office solutions for women. Founded by two well-respected, minimally invasive gynecologic surgeons, Jón Ívar Einarsson, MD, PhD MPH, Past-President of AAGL, founder of the Division of Minimally Invasive Gynecologic Surgery (MIGS) at Brigham and Women's Hospital (BWH) and a Professor of Obstetrics, Gynecology, and Reproductive Biology at Harvard Medical School, and Gaby Moawad MD FACOG, Associate Professor of Obstetrics and Gynecology at The George Washington University School of Medicine and Health Sciences (GWSMHS). Drs. Einarsson and Moawad are inventing and building the products they wish they had early in their careers and elevating the standards for products used in women's health surgical and in-office care. Learn more at Freyja Healthcare.
Contact Information
Jerry Brecher
[email protected]
SOURCE: Freyja Healthcare
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