Pelvital Announces $2.68 Million Seed Funding Round Led By Boomerang Ventures
Eagan, Minnesota (PRWEB) August 01, 2023 -- Pelvital, a leading innovator in women's health, is pleased to announce the successful closing of a $2.68 million seed funding round for Flyte, a revolutionary, accessible, and clinically proven treatment for stress urinary incontinence (SUI) and weakened pelvic floor muscles. This funding milestone emphasizes Flyte’s significant impact in addressing an underserved health concern among women. Flyte is the only at-home intravaginal device that delivers the proven treatment modality of mechanotherapy to treat SUI and strengthen pelvic floor muscles quickly and effectively.
Flyte is a first-of-its-kind, non-invasive, intravaginal at-home device designed for the strengthening of pelvic floor muscles, which has been found to help stress urinary incontinence. Flyte was originally developed by physicians from the Arctic University of Norway in collaboration with experts in gynecology, muscle rehabilitation and urinary incontinence treatments. Flyte’s mechanism of action is mechanotherapy, a foundational treatment modality that when paired with an active pelvic floor contraction stimulates tissue repair and the creation of neuromuscular memory.
The investment round was led by Boomerang Ventures, a venture capital firm focused on transformative connected health. Other participants in the round include VisionTech Partners, Wisconsin Investment Partners, and Edward Bergmark, PhD, Founder and former CEO of Optum.
”Pelvital is committed to empowering both women and clinicians with transformative products backed by strong clinical evidence. We are excited to partner with Boomerang as we execute on our vision to be the gold standard of care for treatment of urinary incontinence, an issue that impacts one in two women,” says Lydia Zeller, President and CEO of Pelvital. “Boomerang’s focus on transformative healthcare technology is a perfect match as we introduce our next generation product to the clinical community. In the context of significant gaps in health equity – and in particular for issues that disproportionately impact peri-menopausal and menopausal women – increasing access to clinically proven, patient-centric treatments is vitally important.”
Commenting on the successful investment round, Oscar Moralez, Founder and Managing Partner of Boomerang Ventures, said, “Boomerang Ventures is driven to solve the biggest challenges in healthcare which is why we're so excited about this investment in Flyte by Pelvital. Their commitment to innovation, science-backed results, research and development, and user experience is making a significant impact on lives and on the cost of care. We have understood for a long time both the opportunity and the historic underfunding in women's health care, and we're beginning to understand how largely neglected the menopause segment is. We are incredibly proud to be part of the contingent addressing this gap.”
The seed funding will be used to complete development of the company’s next generation product and to accelerate commercialization, expanding its reach to a broader audience of clinicians and women seeking an effective, convenient, conservative in-home treatment for stress urinary incontinence.
Two clinical trials studied the safety, efficacy, and durability of Flyte in women with SUI. These studies demonstrated that Flyte delivers continence rates and durability comparable to surgery, yet with a conservative, fast, and convenient treatment.
Flyte is effective for mild, moderate, and severe SUI. Typical treatment is only five minutes per day for a total of six weeks. Flyte is FDA-cleared for both over-the-counter and prescription use.
About Pelvital
Pelvital USA, Inc. is a women’s health medical device company empowering women and clinicians to restore pelvic health with effective, convenient products backed by strong clinical evidence. Their first product, Flyte®, is an FDA-cleared novel in-home treatment for stress urinary incontinence and weakened pelvic floor muscles. Unlike electrical stimulation devices or Kegel trainers, Flyte delivers mechanotherapy, a foundational treatment modality that when paired with an active pelvic floor contraction stimulates tissue regeneration and the creation of neuromuscular memory. Flyte also supports women with a complimentary Ask A (Pelvic) Physical Therapist Service staffed by Doctors of Physical Therapy specializing in pelvic floor health. Learn more at flytetherapy.com.
About Boomerang Ventures
Founded in 2019, Boomerang Ventures is a venture capital firm focused on early growth-stage connected health technology companies. Leveraging a combination studio and venture fund, Boomerang provides the collaborative direction, deep industry expertise, and continuum of support founders need to take their innovations from ideation to market. Boomerang believes that better patient care begins with identifying and solving the biggest challenges in healthcare. Boomerang Ventures is proudly and strategically based in Indianapolis, where the healthcare and entrepreneurial business climate is a thriving community ripe with opportunities. With a secure niche at the intersection of health technology, studio-fund synchronization, and the Midwest, Boomerang differentiates itself from the competition. Boomerang Ventures is Healthcare Innovation, Reimagined. Learn more at boomerang.vc.
About VisionTech
Founded in 2009, VisionTech is a privately held company that links investors to high-potential, early-growth companies. Based in Indianapolis, VisionTech’s angel investing network includes more than 130 active members across Indiana and Ohio. As of November 2022, 215 VisionTech member investors have deployed more than $27.5 million in capital, investing in 65 portfolio companies from across the United States. Membership is open to accredited investors. Those interested in joining are encouraged to contact VisionTech. Learn more at http://www.VisionTech-Partners.com
Andrea Mullan, Victory Public Relations, 1 631-759-1512, [email protected]
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