Ablatus, creators of women-led medical device company Luna has announced the launch of a crowdfunding campaign aimed at raising additional funds for its Luna treatment.
The company’s patented core ablation technology lays the groundwork for a minimally invasive solution in treating uterine fibroids that aims to transform women’s health globally.
Afer security £3 million of funding from investors in an earlier financing round led by Mercia Ventures, Low Carbon Innovation Fund and experienced angel investors, Ablatus Therapeutics is now opening the round to its community and new investors to raise additional financing.
The funding aims to develop Luna, providing a ray of hope to millions of women affected by uterine fibroids.
Dr. Chung Looi, CEO of Ablatus Therapeutics, said:“Our mission is to enable millions of women access to a safe and cost-effective treatment for uterine fibroids so they can enjoy a better quality of life whilst preserving their fertility.
“We’re inviting members of the public to join us today in this transformative journey by pledging to our crowdfunding campaign.
“Your contribution will help us complete the development of our pioneering FemTech solution for fibroids.”
Uterine fibroids remain a vastly underserved global health issue, affecting up to 80 per cent of women by the age of 50.
While not always symptomatic, fibroids can cause debilitating pain, heavy menstrual bleeding, abdominal swelling and complications during pregnancy and labour.
These conditions impose a staggering up to $34.4 billion (£27 billion) annually in the US alone.
Current treatments, such as contraceptive pills and invasive surgery, often fall short of providing a comprehensive and fertility-preserving solution.
Many women in the US delay treatment for up to three years to avoid invasive procedures, highlighting the urgent need for innovative solutions, such as Luna.
Dr Chung Looi added:“Everyone knows someone affected by fibroids; with Luna, we’re ensuring that future generations won’t have to endure unnecessary suffering.”
Ablatus is a spinout from the Norfolk and Norwich University Hospitals NHS Foundation Trust (NNUH) in the UK.
The startup is backed by experienced angels and VC investors.