Israeli startup OCON Healthcare stepped up its game with an innovative hormone-free intrauterine contraception platform leading to a $2 million in-house funding round, led by Pontifax VC, with existing investors Docor VC, and a private American family fund also contributing to the round. Including this current round, the Israeli startup has raised a total of $15 million up to date.
It’s a way healthier alternative
It only makes sense that in the age of technological advancement more women are looking for an upgrade and alternative to the hormone-riddled or sometimes invasive and pain-causing IUDs. OCON Healthcare developed and patented a simple painless spherical IUB (intra-uterine ball) that can be effective for up to 5 years. Unlike most popular IUDs, OCON’s development is made out of super-elastic alloy Nitinol, that offers more than just effective contraception. It can be used for intrauterine medication delivery to treat female medical issues as well.
Using their proprietary IUB platform, which shapes the 3D Ballerine to fit the shape of the uterus, compared to the more standard 2D contraceptive devices which for some reason uses copper wire wrapped around a plastic T-shaped frame that can potentially cause extreme discomfort and bleeding. The product is already CE, NHS and AMAR approved, as the company looks ahead to yet a further funding round in 2021. OCON Healthcare’s Ballerine has already been installed in over 100,000 women and is currently operational in 24 countries around the world, as they look to improve on over $6 million in total sales.
CEO of OCON Healthcare, Keren Leshem explained: "The completion of this investment round is an important vote of confidence by our shareholders, especially in this time of global crisis, both in the company's technology and in our newfound strategy for developing new markets as well as entering more territories with our commercial assets while also further developing our franchise. OCON is leading the global trend in women's health that wish to transition to innovative technology-based solutions that are focused on their bodies and their needs to treat a variety of health conditions.
In addition to the contraceptive solution, OCON is utilizing its IUB platform technology as a base for 3 various-staged products that put the health of women above all. Amongst them, we find The SEAD product which has already shown success in phase 2 of European clinical trials. The IUD is designed as a disruptive treatment for AUB (Abnormal Uterine Bleeding), which attacks about a quarter of fertile-aged women.
OCON Healthcare was founded in 2011 by Geinocologist and company Medical Director, Dr. Ilan Baram, who understands that if your gonna develop medical solutions for women, then you might want to have a woman leading the way. For this reason, he appointed Ms. Keren Leshem as CEO, who also has the Ballerine installed in her body.