Materna Medical, a Mountain View, California-based OBGYN platform company, has successfully closed a $5 million B3 financing round. The investment was led by InnovaHealth Partners, Wavemaker360 Health, and Band of Angels, with participation from existing investors. This new capital positions the company for a pivotal year of clinical, commercial, and operational growth as it works to address major unmet needs in the $25 billion women’s pelvic health market.
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The funding will primarily support pre-commercialization activities for Materna’s second product, Ellora, an investigational device designed to reduce pelvic floor muscle injuries during vaginal delivery for first-time mothers. Specifically, the capital will be used to complete the readout of the EASE pivotal trial—a large, randomized controlled trial currently underway across 20 top US hospitals. Additionally, the company will accelerate launch preparations for Ellora, expand commercial manufacturing capabilities, and advance its market access strategies utilizing a newly active, first-in-class reimbursement code.
Beyond Ellora, the financing will help Materna expand channel access for its first product, Milli, a vaginal dilator that supports patients suffering from vaginismus and painful sex. Milli initially launched as a wellness trainer in 2019 and received FDA clearance for over-the-counter sales in 2023. Leadership from both Chair of the Board Ariella P. Golomb, MD, and President and CEO Tracy MacNeal expressed strong enthusiasm for this next phase, emphasizing that the funding secures the momentum needed to truly transform the standard of care in OBGYN health.
