AXA IM Alts, a global leader in alternative investments, has announced a lead investment of $14m as part of a $26m financing round into Novocuff, a women’s health medical device company dedicated to improving pregnancy outcomes and reducing preterm births.
The funding round, spearheaded by AXA IM Alts through its Global Healthcare Private Equity Strategy, aims to facilitate a multi-site pivotal clinical trial across the United States.
The investment will also support a marketing submission to the U.S. Food and Drug Administration (FDA) and bolster Novocuff’s growth ambitions and business operations as it transitions into the early commercialization phase of its Novocuff Cervical Control System (Novocuff CCS).
Novocuff specialises in creating medical devices aimed at improving pregnancy outcomes and reducing preterm births, particularly through its innovative Novocuff CCS.
This device is designed to be a minimally invasive, non-surgical solution for retaining amniotic fluid and extending latency following preterm premature rupture of membranes (PPROM), a condition that currently lacks reliable therapeutic or device interventions. Preterm birth, affecting over 13m babies globally each year, remains the leading cause of death among children under five and imposes significant economic burdens.
The fresh capital injection will be utilised by Novocuff to complete a pivotal clinical trial in the U.S., prepare for FDA marketing submission, and support the early stages of commercialising the Novocuff CCS.
This aligns with Novocuff’s mission to transform the standard of care in pregnancy outcomes worldwide.
AXA IM Alts’ Global Healthcare Private Equity Strategy focuses on investing in companies that offer innovative and affordable solutions to global health challenges, particularly in high-volume markets poised for rapid growth in healthcare spending and population increases.
The investment in Novocuff is part of AXA IM Alts’ commitment to contributing to the United Nations’ goal of reducing newborn mortality to less than 12 deaths per 1,000 live births, aligning with Sustainable Development Goal 3: Good Health and Well-Being.
AXA IM Alts boasts over 20 years of experience in private equity impact and healthcare investments, with a particular focus on the women’s health sector. This investment underscores AXA IM Alts’ dedication to this field and its specialised origination channels.
AXA IM Alts head of healthcare private equity Curt Labelle said, “As the leading cause of infant mortality globally, preterm birth is a serious unaddressed global health issue. The near- and long-term negative impacts on the patient, and the economic burden on health systems, have created a pressing and dire situation. Given the lack of effective solutions currently available to address this significant global health challenge, we are thrilled to directly contribute to Novocuff’s mission of improving pregnancy outcomes. We have followed Novocuff since its founding and are excited about the company’s progress and clinical data generated to date. Our investment should enable completion of a U.S. pivotal study and the introduction of the Novocuff device to global markets, including low- and middle-income countries. This aligns with our goals at AXA IM Alts of generating measurable and positive healthcare outcomes alongside attractive long-term financial returns for our investors.”
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