Female-centric startups are finally getting the momentum that was much needed and today, there is no shortage of such femtech startups being funded.
As more and more women are becoming conscious of their reproductive health, the global fertility market is expected to reach $31 billion by 2023. NextGen Jane, a data-driven women’s healthcare company based in Oakland, California(United States) is planning to use blood wrung from tampons to find early signs of endometriosis. The company informed today that it earned $9M in Series A Funding. It was led by Material Impact, a fund focused on materials technology. Other participants include Viking Global Investors,Liminal Venture, Access Industriesetc.
Every month during periods, the body sheds the endometrial lining and hence provides a natural biopsy. The company explains that if we listen to the molecular messages from the body tissue using smart tampons, we can learn about the potential markers of endometriosis and in future, maybe even cervical cancer and other diseases.
This seems far easier than using the conventional method that uses a small camera which is inserted into women’s pelvic cavity to find endometrial cells. The condition is typically diagnosed when women experience bewildering pain during periods. NextGen Jane designs a customized tampon which has to be worn for around two hours, placed inside a test tube as a part of a home kit, and then sent to labs for further study.
However, the product hasn’t been tested yet and it needs to be first approved by the FDA. The funding could help the company reach the market after the clinical trial is done. The company needs to run a trail on approx. 800 women during their periods. It would take the company around two years to streamline everything and collect the necessary data before launching it in the market.