Investors see growth opportunity in Femtech devoted to women’s health

To Dr. Connie Lehman, a breast most cancers scan is sort of a fingerprint that gives clues for growing customized medical care.

“There’s a lot info in each digital picture of a lady’s breast tissue, and the deep studying expertise can extract that and predict the long run and in methods we’ve not been in a position to earlier than” defined Dr. Lehman, the chief diagnostic radiologist and director of breast imaging at Boston’s Mass Normal Hospital.

Utilizing synthetic intelligence together with a breast scan, Dr. Lehman has developed a program to offer a extra correct evaluation of a lady’s private danger of growing breast most cancers, past conventional biomarkers and danger evaluation fashions which she says go away plenty of ladies out.

“All of our sufferers who determine as sufferers of shade have actually been left behind on this area. The danger fashions which might be being utilized in well being care had been constructed on European Caucasian ladies,” she stated.

Her analysis rapidly attracted traders, who approached her about launching her personal firm. Final 12 months, she selected Texas-based Santé Ventures to assist her launch Clairity and assist discover a CEO who shares her dedication to well being fairness.

“Girls are an enormous portion of the inhabitants and management plenty of (well being care) spend,” stated Clairity CEO Carrie Ivers, including she was excited to signal on with an organization dedicated to ladies’s well being. “It is an underserved space that has plenty of room for growth.”

Femtech funding progress

Early-stage traders have been among the many largest backers of well being tech corporations targeted on ladies’s well being circumstances. Enterprise capital funding for so-called Femtech has tripled since 2015 from simply over $600 million to almost $1.9 billion final 12 months, in keeping with Pitchbook knowledge.

But, analysts say general funding in ladies’s well being stays underfunded. Past breast most cancers, feminine well being circumstances garnered simply 1% of pharmaceutical analysis funding in 2020, in keeping with a McKinsey report. Simply 2% of medical tech funding was dedicated to non-cancer associated ladies’s circumstances.

Final 12 months noticed two of the biggest Femtech offers in maternity-oriented start-ups. In Might, Fashionable Fertility was acquired Ro, which started as a male-focused digital well being platform, in a deal reportedly valued at $225 million. In August, Maven Clinic, a digital maternity and girls’s well being service agency, raised greater than $100 million from traders together with Oprah Winfrey in a deal that valued the corporate at greater than $1 billion.

Femtech for driving well being fairness

Deena Shakir, a Maven investor who serves on the corporate’s board, says a part of the growth in Femtech funding is being pushed by the expansion in giant employers adopting companies targeted on maternal and household well being.

“This isn’t only a good to have; it is a necessity to retain ladies within the workforce. And so, there are more and more giant employer budgets for prenatal care, for maternal care, for pediatric care,” stated Shakir, who’s a companion at Lux Capital.

Girls of child-bearing age incur well being bills which might be greater than 80% greater than their male counterparts, in keeping with the US Division of Labor. Employers have a vested curiosity in lowering the well being hole for his or her feminine staff, as a result of they foot a lot of the invoice.

“We’re seeing a big uptake within the final 5 years … of actually offering advantages which might be household pleasant and, not solely simply associated to fertility companies,” stated Mercer senior affiliate Samantha Purciello, “and I feel a part of it’s actually leaning into variety, fairness and inclusion efforts of organizations.”

The overwhelming majority of Femtech corporations taking up these points are led by ladies. Clairity’s Lehmann notes, “the info reveals that they are extra prone to have equitable approaches to well being care, they’re extra prone to spend money on domains that assist ladies in addition to males.”

As for Clairity, the subsequent massive problem is gaining FDA approval for its breast most cancers screening program. The corporate has submitted its utility and is hoping to be authorized later this 12 months.

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