Bioceptive, a biotech start-up at the New Orleans BioInnovation Center, just closed their seed funding at $385,000 and are moving towards more accessible and safer method for intrauterine device (IUD) insertion. Bioceptive is a women’s health company developing a patent-pending intrauterine device (IUD) inserter hoping to expand access of IUDs to hundreds of millions more women across the globe.
Bioceptive has been working close to two years on a solution to address adverse effects associated with traditional IUD insertion tools such as a perforation of the uterus during insertion and accidental expulsion and also to improve access to contraception. By incorporating a higher level of accuracy and lower potential for perforation, Bioceptive has developed a safer and easier IUD.
Tamara Kreinin, former Executive Director of Women and Population at The UN Foundation, as well as an investor in Bioceptive, noted that “Bioceptive’s product can help change the lives of millions of women. We live in an era when 215 million women worldwide want, but cannot get, information and services around contraception. Further, women are interested in long lasting methods that they don’t have to think about every day. This product could be game changing for health care providers and the women they serve, particularly in under-served areas in the US and globally. It will increase the reach of IUDs to rural areas of the US and developing countries where OB/GYNs are scarce.”
By the end of this year, Bioceptive will advance the device to its final stages of testing, including extensive preclinical testing, and apply for regulatory approvals before entering the market.
Bioceptive’s founder and Chief Scientific Officer, Ben Cappiello said, “This funding has allowed Bioceptive to grow from a project at Tulane University to a fully operational biotech company. Furthermore, this funding signals the product’s market viability. With a number of strategic investors backing the company, including seed venture capital funds, women’s health leaders, and physicians, we’re confident that Bioceptive has a very bright future.”
“We provide support to encourage innovation in Louisiana,” said Aaron Miscenich, President of the New Orleans BioInnovation Center. “Bioceptive’s achievements are part of our own. We’re excited to see how our innovation will impact the world’s access to quality care in the upcoming years.”