{"id":47623,"date":"2022-08-24T16:02:30","date_gmt":"2022-08-24T14:02:30","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/hera-biotech-closes-oversubscribed-1-9-million-seed-raise-for-novel-diagnostic-test-for-endometriosis\/"},"modified":"2022-08-24T16:02:30","modified_gmt":"2022-08-24T14:02:30","slug":"hera-biotech-closes-oversubscribed-1-9-million-seed-raise-for-novel-diagnostic-test-for-endometriosis","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/hera-biotech-closes-oversubscribed-1-9-million-seed-raise-for-novel-diagnostic-test-for-endometriosis\/","title":{"rendered":"Hera Biotech Closes Oversubscribed $1.9 Million Seed Raise For Novel Diagnostic Test for Endometriosis"},"content":{"rendered":"
\n

\nHera Biotech is developing the world\u2019s first non-surgical test <\/i>for definitive diagnosis and staging of endometriosis.<\/i>\n<\/p>\n

SAN ANTONIO–(BUSINESS WIRE)–San Antonio-based medical device start-up Hera Biotech<\/a> has closed an oversubscribed $1.9 million seed financing round to support the company\u2019s commercialization strategy for its category-defining non-surgical diagnostic test for endometriosis, MetriDx\u2122. The funds will be used to complete an in-patient human clinical study, expand Hera\u2019s IP portfolio, and support a regulatory pathway with the US FDA.\n<\/p>\n

<\/a><\/p>\n

\nInvestors in this round include primarily female supporters from individual sources and investment firms Coyote Ventures, Stella Angels, Althea Group Ventures, and the Kendra Scott Women\u2019s Entrepreneurial Leadership Institute. The company intends to kick off a Series A raise of $15 million in late 2022 to support commercial launch of its product in 2024.\n<\/p>\n

\n\u201cOur seed round was oversubscribed by nearly 100% from our original goal \u2013 which is an enthusiastic validation of our technology and the need for a solution for this pervasive and persistent, yet unsolved problem, in women\u2019s health,\u201d commented Founder and CEO Somer Baburek, MBA.\n<\/p>\n

\n\u201cThe Kendra Scott Women’s Entrepreneurial Leadership Institute (KS WELI) at The University of Texas at Austin is thrilled to be part of Hera Biotech\u2019s successful seed round through their wins at our Fall 2021 Female Founder Pitch Competition and Spring 2022 Dream to Venture events,\u201d said Lesley Robinson, director of the KS WELI. \u201cWe are dedicated to supporting empowered women with the entrepreneurial spirit that can change the world, and Hera\u2019s mission shines an important light on women\u2019s health.\u201d\n<\/p>\n

\nABOUT ENDOMETRIOSIS\n<\/p>\n

\nAccording to the Mayo Clinic, \u201cEndometriosis is an often-painful disorder in which tissue similar to the tissue that normally lines the inside of your uterus \u2013 the endometrium \u2013 grows outside your uterus.\u201d Endometriosis typically involves other pelvic organs and can spread elsewhere in the body. Despite no longer being inside of the uterus, endometrial tissue functions as it would in the uterus by thickening, breaking down, and bleeding with each menstrual cycle. However, this tissue has no way to exit the body and becomes trapped, potentially causing cysts, irritation, scar tissue and adhesions. Further, endometriosis causes pain, especially during menstrual periods, and the pain can be debilitating to afflicted women. Common symptoms include painful periods, pain with intercourse, pain with bowel movements or urination, excessive bleeding, infertility, fatigue, diarrhea, constipation, bloating, or nausea. The patient journey from initial symptoms to diagnosis and treatment can last up to ten years, and the only method for diagnosing endometriosis is by laparoscopic surgery and pathology of the biopsied tissue. This procedure is expensive and nearly half of all biopsies are negative.\n<\/p>\n

\nKnowing a patient\u2019s status and stage can save thousands of dollars on misdiagnosis and treatments that may be inappropriate for the stage of the disease, and in circumstances of infertility, treatment of the underlying endometriosis prior to fertility intervention can increase the likelihood of future success.\n<\/p>\n

\nHERA BIOTECH\u2019S SOLUTION: MetriDx\u2122\n<\/p>\n

\nWith MetriDx\u2122, a sample of the patient\u2019s endometrium is collected during an in-office procedure \u2013 similar to a pap smear but in the uterus, eliminating the need for surgery. The test\u2019s configuration uses micro-fluidic analysis of single cells obtained from the patient to definitively diagnose and stage endometriosis. MetriDx\u2122 will bring unprecedented diagnostic capability to physicians, lower liability risk within hospitals, eliminate unnecessary surgical procedures, and reduce the considerable time patients suffer before receiving a diagnosis, all the while maintaining tissue collection and a direct pathology diagnosis.\n<\/p>\n

\nWhile pursuing FDA clearance, MetriDx\u2122 will initially be offered to both OB\/GYN practices and those in the fertility solutions market as a laboratory developed test (\u201cLDT\u201d). MetriDx\u2122 can also be utilized as a screening test in OB\/GYN practices, in fertility clinics and by reproductive endocrinologist practices.\n<\/p>\n

\nABOUT HERA BIOTECH:\n<\/p>\n

\nHera Biotech, Inc. was formed to apply advances in biotechnology to address unmet needs in the field of women\u2019s health and reproductive medicine. Hera\u2019s initial goal is to commercialize MetriDx\u2122, a novel, non-surgical method for the definitive, early diagnosis and staging of endometriosis.\n<\/p>\n

Contacts<\/b> <\/p>\n

\nLisa Owens, lisammowens@gmail.com<\/a>, 210.601.6647\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hera Biotech is developing the world\u2019s first non-surgical test for definitive diagnosis and staging of endometriosis. SAN ANTONIO–(BUSINESS WIRE)–San Antonio-based medical device start-up Hera Biotech has closed an oversubscribed $1.9 million seed financing round to support the company\u2019s commercialization strategy for its category-defining non-surgical diagnostic test for endometriosis, MetriDx\u2122. The funds will be used to … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-47623","6":"format-standard","7":"category-industry"},"yoast_head":"\nHera Biotech Closes Oversubscribed $1.9 Million Seed Raise For Novel Diagnostic Test for Endometriosis - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/hera-biotech-closes-oversubscribed-1-9-million-seed-raise-for-novel-diagnostic-test-for-endometriosis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hera Biotech Closes Oversubscribed $1.9 Million Seed Raise For Novel Diagnostic Test for Endometriosis - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Hera Biotech is developing the world\u2019s first non-surgical test for definitive diagnosis and staging of endometriosis. SAN ANTONIO–(BUSINESS WIRE)–San Antonio-based medical device start-up Hera Biotech has closed an oversubscribed $1.9 million seed financing round to support the company\u2019s commercialization strategy for its category-defining non-surgical diagnostic test for endometriosis, MetriDx\u2122. The funds will be used to ... 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