💌 Continuous temperature patch FemSense | LiviWell raises $3.3m | the rise of testosterone for women | Smile Makers expands

The global weekly briefing on women's health innovation and FemTech

Nov 05, 2025

Welcome to issue no. 121 of FutureFemHealth, (w/c November 3 2025) — we’re trusted by 8,700 investors, innovators and leaders to decode the funding flows, breakthrough ideas and policy shifts transforming the sector.

We’re rapidly approaching the end of the year, aren’t we? This month I’ll be in London as CensHERship joins the global women’s health brand Essity for a parliamentary roundtable on censorship in women’s health. And then I’m back to Denmark for an ecosystem meetup in Copenhagen with the Women’s Health Horizons team (all welcome to this one - sign-up here). Would love to know what you’re up to at the moment, do reply and let me know!

🌟 In this week’s briefing:

📈 The rise and rise of testosterone for women
💰 FemSense maker SteadySense secures 7-figure investment to scale its continuous temperature monitoring patch.
✅ LiviWell raises $3.3m to seek FDA clearance and launch vaginal microbiome device.
❤️ Smilemakers expands from pleasure into pelvic health

Got news to share from the world of FemTech and women’s health innovation? Let me know at anna@futurefemhealth.com

💡 This week’s newsletter is powered by Granola — the AI notetaker I’m actually obsessed with. Granola has genuinely changed how I work - transcribing my calls, instantly summarising key points and highlighting action items. It syncs straight to my Notion (and a bunch of other apps too) so everything’s filed away in seconds.

They’ve just added AI chat, so I can ask my call notes questions and get an answer instantly.

👉 Try Granola for free using my link - and get one month free if you choose to upgrade to a paid plan too.

The rise and rise of testosterone

woman spread hand — Photo by Mohamed Nohassi on Unsplash

Testosterone for women is becoming big business.

Once seen only as a ‘male hormone’, in the last few years its potential benefits for midlife women have been rapidly destigmatised - helped along by celebrity endorsements and glowing praise from women.

Linked to libido, mood and energy levels it’s not hard to find women crediting testosterone with saving relationships, careers and their zest for life.

The cultural conversation also translates to a sizeable business opportunity. The global hormone replacement therapy market is already worth around $17 billion, although there’s still no clear estimate for the women’s testosterone segment.

But commercially, there are signs it’s taking off. Telehealth clinic Hone Health which built its business around male hormone testing and testosterone treatment, launched a women’s health division after growing demand. Speaking on a Fitt Insider podcast over the summer, founder Saad Alam said testosterone already helping drive faster growth on the women’s side than then men’s.

And now Midi Health has joined the surge. The U.S-based virtual clinic which focuses on midlife women’s health has announced it’s rolling out testosterone therapy for women across its 200,000-strong patient network.

On its part, Midi says it’s also responding to “explosive patient demand”.

But here’s the twist: the science still hasn’t caught up. There are no FDA-approved testosterone products for women in the U.S., and the strongest evidence applies only to post-menopausal women with a specific diagnosis of low sexual desire.

That hasn’t stopped companies or consumers. Across the U.S., hormone and wellness clinics have already been prescribing off-label or compounded versions for years.

Midi’s approach is to offer a topical cream that it says allows for precise, adjustable dosing - avoiding pellets that can’t be altered once implanted.

“Women have been excluded from testosterone therapy for decades,” says CEO Joanna Strober. “The fact there’s still no FDA-approved option for women in the U.S. is a glaring inequity that leaves millions suffering in silence.”

Not everyone is convinced - and not just in the U.S but globally too. In the UK, Dr Paula Briggs, chair of the British Menopause Society, warned last year that testosterone prescribing is “out of control”, driven partly by celebrity endorsements and social media “testosterone evangelists.”

I’m not a medical professional, but I understand why evidence matters - not just to tick regulatory boxes, but for safety too. At the same time, I understand the pull of seeing celebrities and peers say a treatment changed their lives. When enough women say something works, it’s hard not to want in.

The tension isn’t unique to testosterone, you can apply it to other areas of women’s health too - from the current debate over removing the black box warning from vaginal oestrogen to questions about GLP-1 drugs beyond weight loss (which I wrote about last week).

The real story here is a fundamental one that we live and breathe each day: women want help, companies are trying to respond and the research still lags far behind.

But it’s also the opportunity - there are so many areas in women’s health where customers are ready and waiting, we just need the science to close the gap.

This week’s poll:

Last week’s poll asked: ‘when you hear ‘Ozempic’, do you think ‘women’s health’? A clear split - with 36% saying no - it feels like a diet trend and another 36% of you said you don’t think it should be considered women’s health just yet as the data’s not there. However, 28% of you agreed that yes it should be already considered hormonal and metabolic health. This was one of our most voted on polls to date!

💰 Capital flows: where are investors placing bets?

📌 AUSTRIA: SteadySense secures 7-figure boost to scale femSense patch. FemSense’s continuous temperature tracking patch is an accurate and easy alternative to the traditional thermometer for ovulation tracking and cycle monitoring. SteadySense is now eyeing global expansion and possible extension of its technology into perimenopause and menopause too. This round was led by existing backer eQventure. (Continue reading: FutureFemHealth)

📌 U.S. LiviWell raises $3.3m to seek FDA clearance and launch vaginal microbiome device. With no current FDA approved products to prevent common vaginal infection, LiviWell’s ‘Livi’ device aims to fill the gap. It’s designed to maintain vaginal health after intercourse and this seed round will support regulatory clearance and commercial launch. The round was led by Atlantic Venture Studio, a subsidiary of one of New Jersey’s largest healthcare networks Atlantic Health. (Continue reading: FutureFemHealth)

📌 SWITZERLAND: MoleSense secures €156K to pioneer molecular wearables in maternity care. Doctors make obstetric decisions using limited data. MoleSense’s sweat-based molecular tracking aims to prevent preterm births and empower doctors with the continuous, personalised data they need to make data-driven decisions. Funding was from the philanthropic Swiss organisation Venture Kick and will be used to complete validation and move along the regulatory pathway. (Continue reading:

📌 AUSTRIA: Calm/Storm Ventures launches €30M fund to back healthtech innovations. Already one of Europe’s most active healthtech investors, Calm/Storm’s portfolio includes at-home fertility kit Béa Fertility, hormonal health brand Inne and German maternity care provider Keleya. A third of the CEOs in its portfolio are women or don’t identify as male. This new fund is aimed at early stage healthtech startups, in Europe but also into the U.S. It is also branching into connected themes like climate and nutrition tech. (Continue reading: Tech Funding News)

🌟 Industry moves and strategic shifts

📌 U.S: At-home ultrasound moves from concept to clearance
The FDA has given a De Novo nod to Pulsenmore’s at-home prenatal ultrasound system, letting pregnant patients scan themselves and transmit clips for remote clinician review. With 35% of U.S. counties lacking sufficient maternity care, this begins a shift to finding alternative ways to support more women. The company plans to partner with major U.S. healthcare systems to launch the product stateside in early 2026. (Continue reading: Radiology Business)

📌 U.S: Found Health launches GLP-1 microdosing program for early metabolic dysfunction. If you read last week’s newsletter you’ll know I’m following the progress of evidence surrounding GLP-1s and women’s health closely. While still unproven, microdosing is specifically based on the belief that early intervention can prevent progression of disease. Found Health highlights women with PCOS as well as those navigating perimenopause and menopause are likely use cases for its new program. (Continue reading: Business Wire)

📌 UK: Smile Makers expands from pleasure into pelvic health. Global intimate wellness brand Smile Makers is broadening its remit from sexual pleasure into holistic wellbeing. It’s launching a pelvic floor training device - but with no app, no data, just guided exercises and embodied awareness.“App fatigue is real” said Samantha Marshall, Smile Makers Collection. “This device is about genuine connection — with your body, your breath, and your pelvic floor — not another streak to maintain. Sometimes simpler is better.” (Continue reading: FutureFemHealth)

📌 U.S: Equinox launches women’s health program. Luxury gym chain Equinox adds hormone diagnostics and wearable integrations with traditional gym activities such as group lifting classes and 1:1 training. (Continue reading: Fitt Insider)

🩸 Research and women’s health news

📌 UK: Medherant announces positive results for Phase 1 clinical trial of testosterone patch for women. The strongest evidence base for testosterone therapy in women currently lies in post-menopausal women with diagnosed hypoactive sexual desire disorder (HSDD) - a distressingly low libido being a symptom believed to affect more than 1 in 3 post-menopausal women. This Phase 1 clinical trial of a testosterone patch for post-menopausal women found that it restored blood levels to normal pre-menopausal range. While still early stage, this could be a simple, discreet and effective hormone therapy option that does not yet exist. (Continue reading: MedTech Insights)

📌 GLOBAL: New study reveals physiological changes during pregnancy based on Oura data. Oura analyzed 10,000 pregnancies, showing temperature shifts as early as week four, rising heart rate, and falling HRV. Those with pregnancy loss displayed different patterns up to two weeks prior. And while Oura says that of course, wearable data cannot be used as a diagnostic for pregnancy health and wellbeing, the findings do suggest that early monitoring could help detect future issues and windows for intervention. (Continue reading: Oura)

📄 Policy watch: risks and opportunities

📌 UK: NHS makes morning-after pill available for free across pharmacies in England. Those in need of free emergency contraception no longer have to see their GP or attend a sexual health clinic. The move by the NHS to make the morning-after pill free aims to end the ‘postcode lottery’ of access to emergency contraception. Some were previously charging as much as £30 for emergency oral contraception. The NHS’s national clinical director for women’s health, Dr Sue Mann, said the expansion was “one of the biggest changes to sexual health services since the 1960s” (Continue reading: The Guardian)

📌 UK: Firms resisting fertility-support policies are paying price. Most workplaces lack formal policies around paid leave or flexibility for staff going through fertility treatments. A new study estimates that UK employers lose around £217m annually by failing to support staff undergoing fertility treatments. That’s the cost lost to sick leave, hidden time off for treatment, reduced productivity or those who end up leaving their jobs. By contrast, Fertility Matters argues that introducing paid fertility leave would cost a fraction of the losses. MP Alice MacDonald is now pushing for it in Parliament. (Continue reading: The Guardian)

📌 EUROPE: Crucial abortion vote to take place. After gathering 1.2 million signatures, the FEMM committee will vote on whether the EU should fund safe abortion access across borders. If approved, it could create the first Union-level mechanism for reproductive rights - and a safety net for women in restrictive member states. (Continue reading: My Voice My Choice)

📆 Save the date

DENMARK: Connecting the women’s health ecosystem: Copenhagen, Tuesday Nov 25, 5.30pm CET.
I’m co-hosting a networking meet-up with the team from Women’s Health Horizons in Copenhagen later this month. We’ll have a short panel focused on connecting the women’s health ecosystem globally, with plenty of time for refreshments, networking, and new connections. If you’re working in women’s health as a founder, researcher, academic, investor, government or policy expert we’d love to see you!
🎟️ Register your spot here
UK: Care divided, racial inequalities in healthcare: London, Tuesday Nov 11, 5.30pm GMT.
This important and thought-provoking event organised by Agora Health will explore racial inequalities and ethnic disparities in the healthcare system. Expert panellists include GP Dr Aziza Sesay, midwife Lola Ornato, Phd psychologist Dr Manpreet Suffer-Pottiwal and GP Dr Anika Patel.
🎟️ Register your spot here
VIRTUAL: Maternal health ecosytem: Virtual, Thursday Nov 13, 2pm ET.
The Pan-Canadian Women’s Health Coalition brings together 10 national research hubs advancing women’s health through research, innovation, and community partnerships. This free virtual event presented by coalition member GEM Hub will bring together researchers, clinicians, and community partners to improve access to gender-equitable health systems and advance reproductive and maternal health outcomes.
🎟️ Registration details are available here.
UK: How to advocate for yourself. Virtual, Tuesday 18 November, 5pm GMT.
If navigating your own health has felt anything but straightforward, you’re not alone. Co-hosted by the healthtech startup Nexus, and featuring Dr Sula Windgassen, this panel will share personal and professional stories and includes a group workshop too.
🎟️ Register your place here.

That’s all for this week! If you’ve missed any previous newsletter issues catch them all at futurefemhealth.com and do make sure to follow us on LinkedIn.

Anna

PS. FutureFemHealth reaches 8,700 decision-makers and professionals in women’s health each week - from investors and founders to healthcare leaders and corporates. To explore partnership opportunities or request our media pack contact: anna@futurefemhealth.com