...which I believe has the ability to solve an unmet need and greatly expand the IUD market.
Boca Raton, FL (PRWEB) April 19, 2013
New World Angels (NWA), Florida’s premier structured angel investor group, in collaboration with the Special Equities program of Calvert Equity Portfolio, has closed an investment in Bioceptive, Inc., a medical device company focusing on women’s health outcomes. Bioceptive has developed a novel, IUD (intrauterine device) inserter expected to significantly enhance the safety and efficacy of approximately 70 million insertion procedures done globally each year.
“We are excited about the future of Bioceptive and have great confidence in its product, plan, and management’s ability to focus and execute. Under the capable leadership of Dr. Stewart Davis, we believe in the company’s ability to make a real difference in this market, and in the health status of women undergoing IUD procedures,” asserted Rhys L. Williams, JD, MBA, President of NWA.
The intuitive device greatly facilitates the insertion procedure, thus making one of the best methods of contraception available in offices, clinics, and health care centers around the world where they are not currently being offered. Not only will this have an impact on experienced providers in major markets by empowering their physician extenders to do the procedure at similar reimbursement, but also in more rural areas in the US and in some of the most resource poor settings on the globe where access to highly-trained physicians is limited and long acting contraception is in high demand. From its 2010 launch, the Bioceptive inserter device is currently in late development phase with preclinical testing underway.
Orin Levy, MD, MBA, a NWA director, has joined Bioceptive’s board of directors. “I am very pleased NWA has played a key role in this funding, which I believe has the ability to solve an unmet need and greatly expand the IUD market. Bioceptive’s inserter device will provide much-needed support for what ACOG (American College of Obstetricians and Gynecologists) has recently recommended as a ‘first-line’ birth control option for young women.”