Escala Medical, a technology company specializing in the treatment of pelvic organ prolapse, has secured $4.5 million in funding.
EIC Fund led the round, which follows a $2.9 million (€2.5 million) grant awarded to Escala in 2023 via the EIC Accelerator program.
WHAT IT DOES
Escala's product Mendit works to restore pelvic organ function using a technique that removes the need for tissue incision or dissection to connect the sacrospinous ligament to the vaginal wall.
The device features a navigation, anchoring and deployment mechanism. The applicator tip is guided to the ligament using the finger, where it then securely anchors the vaginal wall in its proper anatomical position.
According to the company, the procedure can be done in an outpatient setting.
Escala will utilize the funds to expand its commercial operations in the U.S. and support its entry into the European market. The company will also use the money to further international growth through a signed distribution agreement with a partner based in Singapore.
"This funding marks an important milestone as we continue to scale our operations and bring our breakthrough technology to more women worldwide," Edit Goldberg, CEO of Escala, said in a statement.
"We're proud to have the support of the EIB and our private investors and we remain committed to advancing the next generation of our Mendit device to improve outcomes and expand access to millions of women worldwide who suffer from organ prolapse."
MARKET SNAPSHOT
Other companies in the pelvic health space include Origin, which entered into a partnership in March with women's telehealth company Wisp to allow their members to access each other's services.
Hybrid care provider Origin provides physical therapy for the pelvic floor and the whole body to improve sexual health during pregnancy, postpartum and menopause.
Wisp offers same-day appointments for women seeking treatment for sexual and reproductive health tools. Patients can connect with a licensed medical provider and, if needed, obtain a prescription for same-day in-person pickup or home delivery.
The company offers treatments for reproductive health, vaginal health, weight care, hormonal health and more.
Earlier this month, Sword Health raised $40 million, bringing its total funding to $380 million and its valuation to $4 billion. Sword used the funds to support its global expansion, further develop its AI models across various areas of care and accelerate its momentum in mergers and acquisitions.
In 2024, Axena Health, which develops a digital therapeutic for women's pelvic health, partnered with the direct-to-consumer telehealth company UpScriptHealth to offer consultations and treatment to women experiencing urinary incontinence symptoms.
Axena's Leva Pelvic Health System helps women with pelvic floor muscle training (PFMT), a first-line treatment that can be completed at home.
In 2023, Axena Health raised a $25 million Series A investment from XA IM Alts.
Axena offers the Leva Pelvic Health System, a prescription digital therapeutic aimed at treating urinary incontinence and chronic fecal incontinence in women.
The system, which has received FDA 510(k) clearance, includes a vaginal motion sensor that connects to an app, guiding users through pelvic floor muscle training.
According to an Axena spokesperson, the company acquired the system from Renovia, which developed and commercialized Leva before it shut down in 2022. last year. Renovia had previously raised $17 million in Series C-1 financing in 2021 and a $32.3 million Series B in 2018.
In 2022, Digital musculoskeletal care company SWORD Health launched a women's physical therapy product focused on pelvic health and pain.
The product, Bloom, includes a sensor that measures the pressure and stamina of the pelvic floor and connects to an app, allowing users to receive feedback on their exercises.
Members are paired with a pelvic health specialist who guides them through exercises and makes changes to their program based on their needs and results.
That same year, Hinge Health launched a women's pelvic health program. Hinge's program, available within the same platform as the rest of its musculoskeletal tools, offers educational content and access to a care team comprising physical therapists, women's health coaches and urogynecologists.
Hinge went public in May, raising $437.3 million in its initial public offering. which sold 9.14 million shares. Hinge opened on the NYSE at a stock price of $39.25 per share, 23% higher than its originally expected IPO price of $32.
The company's stock is now trading at $51.80 per share.
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