December 18, 2020
Rhia Ventures invested in Israeli-based OCON Healthcare to assist the US launch of Ballerine®, the first and only 3D spherical copper IUBTM (Intrauterine Ball). Ballerine®’s unique shape reduces irritation to the endometrium with fewer malpositions and perforations, which are significant drawbacks associated with current T-shaped IUDs.
Rhia Ventures notes the financing will also help expand Phase II clinical trials for OCON’s SEADTM product, which offers point-of-care therapy for abnormal uterine bleeding (AUB).
“OCON Healthcare is the second investment in RH Capital Fund II, which focuses on contraceptive innovations, maternal health, and other unmet needs in women’s reproductive health,” said Stasia Obremskey, Managing Director of Rhia Ventures. “We are excited about the transformative potential of both the Ballerine and SEAD to provide safer, more cost-effective solutions for women.”
In the US, approximately 45% of all pregnancies are unintended each year, yet there has been little investment to spur innovation in new contraceptives. Rhia Ventures is committed to investing in companies that are addressing this enormous unmet need in the market.
“We are thrilled to have Rhia Ventures join us for the next chapter of our journey to create a series of category-defining products in women’s health and introduce safer, non-invasive medical solutions to improve quality of life,” said Keren Leshem, CEO of OCON Healthcare. “Rhia’s financing, partnership, and network will enable us to continue innovating.”
Rhia Ventures also invests in innovations that improve outcomes and reduce health disparities in maternal health. The US ranks 55th in the world for maternal mortality, and severe maternal morbidity is rising. “Venture capital plays an important role in getting life-saving products to market faster, so we’re using this engine of innovation to help address the many unmet needs in women’s reproductive health,” said Elizabeth Bailey, Managing Director of Rhia Ventures.