Granata Bio secures $15million Series A+ to further its fertility medication pipeline and reduce costs for patients
Granata Bio identifies strategic medications used in IVF outside of the US for clinical development and commercialisation in North America
Granata Bio Corporation, a biopharma company focused on invigorating the $3.6B global infertility medication market, has today announced a $15M Series A+ funding round.
The round was exclusively supported by existing investors, including Gedeon Richter, CooperSurgical, Amboy Street Ventures, and other strategic investors. Granata has raised over $30 million to date.
Granata Bio is focused on developing new medications and therapeutic solutions for fertility patients. The company has a big goal to reduce the cost of IVF medications - its says that the price of IVF medications has increased by 50% since 2014 and fertility insurance coverage in the US is still patchy meaning patients often bear the costs themselves or cannot afford fertility treatments altogether.
Founded in 2018, Granata Bio identifies strategic medications used in IVF outside of the US for clinical development and commercialisation in North America. This funding round will primarily support Granata Bio's efforts to progress its existing pipeline and explore new iassets in reproductive health.
Evan Sussman, CEO of Granata Bio said:
"We are grateful for the continued confidence and commitment shown by our existing investors, especially our strategic partners who are leaders in women's health, Gedeon Richter and CooperSurgical.
“Granata Bio is committed to improving access for fertility patients by identifying and developing new therapeutic solutions. With this new funding, we are well-positioned to accelerate the development of our current and future pipeline."
Granata Bio was represented by Mintz in the funding round.