A consortium of investors including the Midlands Advantage Fund, which is managed by venture capital firm Midven, has made commitments to the West Midlands company in the latest fundraising round. The fund invested £375,000 in the company, while Norgenix, a US distributor of women’s health products injected £250,000. Three individual investors also took part in the round through angel network Envestors.
Fertility Focus was formed in 2005 to licence intellectual property for the Fertility Monitor from Bristol University and since then has developed two products that aim to diagnose and treat infertility. The monitor identifies and predicts periods of maximum fertility and is also able to diagnose women who are not ovulating regularly.
Tony Stott, chief executive of Midven, comments that the funding will be used to complete regulatory approvals for the monitor and launch the product in Europe.
Robert Milnes, chief executive, of Fertility Focus, adds, ‘We have exciting plans for developing the business and look forward to working with Midven as we grow.’
Approved for sale in Europe and the US, the company’s second product, the Fertiloscope, is a minimally invasive instrument for the early diagnosis and immediate corrective surgery of physical abnormalities in the female reproductive organs.