NextGen Jane, a reproductive health technology company, has raised $ 9 million in a Series A funding, the company said. The companies which participated in the funding round includes Material Impac round, Access Industries, Viking Global Investors, Liminal Ventures.
NextGen Jane (Jane) is a data-driven health company. Its smart tampon platform allows users to conveniently mail in cells from the reproductive tract that are shed during menstruation. By developing genomic classifiers for specific disease states, Jane hopes to enable earlier diagnosis of devastating reproductive disorders which can take up to a decade to identify today.
“Menstrual effluence acts as a natural biopsy of the female reproductive tract, enabling unprecedented access to tissues for diagnosing diseases,” says Ridhi Tariyal, co-founder and CEO of NextGen Jane.
Having successfully translated its technology from prototype to beta product, the company now plans to use the financing to further advance its scientific data set in select reproductive health areas, positioning it for commercialization sometime in 2020.
“At Material Impact we look for groundbreaking materials-based technologies that have the capacity to democratize access to the resources we need most,” says Adam Sharkawy, Founder & Managing Partner of Material Impact and a former life sciences healthcare executive.
“The global women’s health market is $ 36.5 billion and growing, but an overwhelming number of women don’t have access to the care they need, even in established markets like the US, where half of the country’s over 3,000 counties lack any practicing OB-GYN. Jane’s disruptive technology platform replaces in-clinic, invasive diagnostic procedures with an elegant and simple solution, paving the way for women everywhere to manage their health proactively on their own turf and on their own terms.”
Tariyal emphasises, “We are excited to be partnering with Material Impact to bring to market a better way to manage health. Decoupling sample collection from the clinic is a simple but effective way to expand access to care for many underserved populations.
“Access to care in the US and globally is increasingly influenced by geography and wealth. For our part, Jane is addressing the looming resource crisis in medicine by creating affordable solutions that separate care from brick and mortar settings and truly enable individualized, preventative care,” she adds.