May Health raises $11.7M to advance device treatment for PCOS-related infertility
The company is progressing a pivotal US clinical trial and preparing for a European market launch.
May Health has raised €10 million ($11.7 million) to advance development of its device-based treatment for infertility linked to polycystic ovary syndrome (PCOS), as the company pushes forward with a pivotal US clinical trial and prepares for a European market launch.
The round includes participation from existing investors Sofinnova Partners, Trill Impact and Bpifrance, alongside new investor Nexpring Health, a global provider of assisted reproductive technology (ART) solutions.
Menlo Park–based May Health said the funding will help support completion of its US Investigational Device Exemption (IDE) trial, known as REBALANCE, and enable launch planning in Europe for its Anavi™ System. The device received CE Mark certification under the European Union’s Medical Device Regulation (EU MDR) in October 2025.
“For too long, women with PCOS-related infertility have needed more options to support their family-building journey,” said Colby Holtshouse, President and Chief Executive Officer of May Health.
“With the continued support of our existing investors, we are making significant progress enrolling the REBALANCE trial and preparing to bring the Anavi System to market in Europe and the United States. We are pleased to welcome Nexpring Health to the syndicate, and we celebrate the strong mission alignment between our organizations.”
May Health previously raised a $25m Series B in 2024.
PCOS impacts 10-13% of women worldwide
PCOS is the most common endocrine disorder among women of reproductive age and a leading cause of female infertility, affecting an estimated 10–13% of women worldwide. Women with PCOS-related infertility often struggle to conceive because they do not ovulate regularly or at all.
May Health is developing the Anavi System as a one-time, office-based procedure designed to restore ovulation in women with PCOS-related infertility who do not respond to, are contraindicated for, or choose not to pursue first-line treatments such as ovulation-induction medications. Through targeted ovarian ablation, this treatment aims to lower androgen production, which has been shown to restore ovulation using other techniques.
The company is currently evaluating the technology in the REBALANCE study, a prospective, multicentre, randomized controlled trial designed to assess the safety and effectiveness of the procedure in women with PCOS-related infertility. The study is recruiting women aged 18 to 40 who have been diagnosed with PCOS and who have failed, are contraindicated for, or decline first-line ovulation-induction therapies. More than 15 fertility centres across the United States are enrolling participants.
Data from the trial is intended to support a future submission to the US Food and Drug Administration (FDA) for marketing authorization.
New investor Nexpring Health, which provides equipment, services and technology to fertility clinics and embryology laboratories, said the investment reflects its broader focus on advancing fertility care beyond the laboratory environment.
“At Nexpring Health, we believe our role as a global leader in ART solutions goes beyond the products we make,” said Wil Boren, chief executive officer of Nexpring Health.
“It’s about advancing fertility care in every way we can, for the clinicians on the front lines, for the embryologists working tirelessly in the lab, and ultimately, for the patients whose hopes and dreams depend on this progress.”
“May Health is doing exactly the kind of work that can change patient outcomes, expand clinical options, and move this field forward, and we are proud to stand with them,” he said.
Existing investor Sofinnova Partners also framed the investment as part of a broader shift in approaches to treating infertility associated with PCOS.
“May Health is addressing a critical gap in modern infertility care,” said Antoine Papiernik, chairman and managing partner of Sofinnova Partners.
“By targeting the underlying drivers of PCOS-related infertility, the company is reshaping the treatment paradigm for millions of women worldwide.”
May Health is a medical device company focused on expanding treatment options for women living with PCOS. The company was founded as Ziva Medical and developed through the Paris-based accelerator MD Start before operating as Ablacare and later becoming May Health. While it has US headquarters in Menlo Park, the company has French roots and maintains ties to European investors including Sofinnova Partners and Bpifrance.
The latest financing brings together investors from both the European and US medtech ecosystems as the company moves closer to potential regulatory submissions and commercialization of the Anavi system.
For PCOS patients who do not respond to existing therapies, the outcome of the REBALANCE trial could determine whether a new procedural option becomes available in fertility care.