Novocuff, Inc., a medical device company focused on enhancing pregnancy outcomes and minimizing the risk of preterm birth, has successfully concluded an oversubscribed $26 million Series A funding round following an initial $2 million seed round. AXA IM Alts led the Series A with a $14 million investment, joined by the Laerdal Million Lives Fund and support from existing and new investors Laborie, RH Capital, Avestria Ventures, and March of Dimes. This financing round includes additions to Novocuff’s Board of Directors: Curt LaBelle and Lilly deSouza Burr from AXA IM Alts, and Becca Shmukler from the Laerdal Million Lives Fund, alongside Chair of the Board Shacey Petrovic.
Series A proceeds will fuel Novocuff’s growth initiatives, including team expansion, a U.S. multi-center pivotal clinical trial, regulatory approvals, and early-stage commercialization efforts. Novocuff has appointed Kathryn Wine as Vice President of Clinical Affairs and Marissa VanDeVeer as Clinical Engineer to bolster these endeavors.
CEO and Co-founder Amelia “Amy” Degenkolb stated, “We are thrilled to have the support of a strong and mission-aligned group of investors as we enter this exciting next phase of clinical development.”
Preterm birth complications like PPROM and cervical shortening affect millions annually, driving Novocuff’s pursuit of innovative solutions. The company aims to elevate pregnancy care standards and improve outcomes for women and infants globally.
Novocuff’s breakthrough device, the Cervical Control System (CCS), stabilizes and seals the cervix to maintain amniotic fluid levels and preserve cervical integrity, ultimately aiming to extend pregnancy duration.
Curt LaBelle of AXA IM Alts emphasized, “Our investment should enable completion of a U.S. pivotal trial and the introduction of the Novocuff device to global markets, aligning with our commitment to positive healthcare outcomes.”
Becca Shmukler from the Laerdal Million Lives Fund added, “Novocuff’s potential to mitigate the mortality burden of preterm birth perfectly aligns with our life-saving mission.”
March of Dimes expressed optimism about Novocuff’s progress and its potential to address critical pregnancy complications.
With Series A funding secured, Novocuff anticipates commencing a U.S. pivotal clinical trial in early 2025, continuing its mission to transform pregnancy care.
