đ Issue 119: Women's health "outperforms" | Hologic acquired | Record âŹ308 million bet on tackling ovarian cancer | Hers moves into menopause
The global weekly briefing on women's health innovation and FemTech
Welcome to FutureFemHealth, (w/c October 20 2025) â trusted by 8,600 investors, innovators and leaders to decode the funding flows, breakthrough ideas and policy shifts transforming the sector.
đ In this weekâs briefing:
đ„ The âoutperformanceâ in womenâs health
đ€ Womenâs health firm Hologic goes private for $18.3 billion
đ° Record âŹ308 million bet on tackling deadly ovarian cancer
đ Swiss FemmeHealth Alliance launches to connect Europeâs womenâs-health ecosystem
Got news to share from the world of FemTech and womenâs health innovation? Or would you like to partner with us? Get in touch: anna@futurefemhealth.com
But firstâŠ
âWe have an outperforming womenâs health track recordâ - how confidence is growing in womenâs health
Even just a year or two ago, womenâs health panels were still making the case for why to invest.
The conversation is flipping and last week at Womenâs Health Week in London, it felt notably different. I heard investors from across the funding chain - LPs like the British Business Bank, venture managers and early-stage angels - describing a market now driven by performance, not just token effort. (You can read our full story here)
As Sajni Chotai from British Business Bank explained:
âOur top performing, most established manager actually came to me six months ago and they said we have an outperforming womenâs health track record and one of our LPs has asked us to raise a dedicated womenâs health fund.â
Of course, this progress wonât be felt by everyone - especially founders still raising in in a tough and biased market. As Dayeâs Valentina Milanova shared with the room on the previous day:
âIâve had investors ask me why our tampons have string on them.â
Valentinaâs advice to early-stage founders is to look to grant funding, especially in Europe, for founder-friendly capital.
Still, momentum is undeniable. This week in the newsletter youâll read how private equity has gone big with the $18.3 billion buyout of Hologic; Tubulis just secured a record âŹ308 million to tackle ovarian cancer; and Hims & Hers expects its womenâs health business to hit $1 billion in revenue next year.
While sometimes these top-of-the-chain moves might feel distant if youâre early stage, theyâre shifting perceptions and opening up capital. (At a breakfast event last week I even heard a longevity VC say âoh, womenâs health is quite hot right nowâ - can you imagine hearing that even just a few years ago?)
The definition of womenâs health continues to widen too. This weekâs stories span anorectal care, hair loss and perimenopause - all areas severely underserved.
And collaboration is rising fast: this week we cover the launch of Europeâs FemmeHealth Alliance, the U.S movement 51&, and Canadaâs cross-sector Persons Project which aims to close the data gap.
OnwardsâŠ
đ° Capital flows: where are investors placing bets?
đ U.S: Hologic goes private for $18.3 billion. In a major signal of private equityâs growing confidence in womenâs health, Blackstone and TPG will acquire Hologic, the diagnostics leader best known for its key mammography and testing. The deal, expected to close in early 2026, positions the firms to back further innovation and long-term growth. (Continue reading: PE Hub)
đ GERMANY: Record âŹ308M bet on tackling deadly ovarian cancer. Ovarian cancer has high mortality rates because it is often diagnosed late. Tubulis just raised a record âŹ308M to advance its new drug TUB-040 (in ovarian and lung cancer) showing serious capital is finally chasing womenâs cancer breakthroughs. The round was led by Venrock Healthcare Capital Partners. (Continue reading: tech.eu)
đ UK: Cyclama Bio raises ÂŁ5m for endometriosis drug discovery. Cyclana is different to other endometriosis research - it is using pioneering tissue-level models of endometriosis to find new drug targets and biomarkers. The approach could open an entirely new frontier for womenâs health drug discovery, starting with a condition that affects one in ten women worldwide. This pre-seed round was co-led by NfX and Eka VC. (Continue reading: UKTN)
đ U.S: Veradermics raises $150m to advance first non-hormonal oral treatment for hair regrowth - including in women. Hair loss takes a heavy emotional toll - and women remain underserved despite making up nearly 40% of all hair loss cases â thatâs around 30 million in the U.S. alone. Veradermics is running separate clinical trials in men and women on VDPHL01, a once-daily, extended-release oral form of minoxidil designed to regrow hair without hormonal side effects or cardiovascular risks. This Series C funding was led by SR One and supports Phase 3 trials and a planned FDA submission. (Continue reading: FutureFemHealth)
đ U.S: Faeth raises $25m to speed new treatment for endometrial cancer. Biotech firm Faeth Therapeutics has raised $25 million to test a new metabolic approach for endometrial cancer, one of the fastest-growing cancers in women. Early results showed an 80% response rate in a small study. A larger U.S. trial is now under way, aiming to offer women a less toxic, more effective option than standard chemo. (Continue reading: Pharmiweb)
đ Industry moves and strategic shifts
đ U.S: Female-founded startup Bummed launches to destigmatize anorectal care. Up to 85% of pregnant women develop hemorrhoids in the third trimester, yet access can be patchy and slow. Founded by former Wisp employees, Bummed offers telehealth access to custom-compounded treatments for hemorrhoids, constipation, and fissures. The company is also tapping into the fast-growing ecosystem around GLP-1 weight-loss drugs, which Bummed says have driven a spike in constipation and other gut-related complaints. (Continue reading: FutureFemHealth)
đ U.S: Hers bets big on menopause care to crack $1 billion revenue mark. Hims & Hers is launching a dedicated perimenopause/menopause specialty - with tailored hormone-based plans - and now says its Hers business is on track to surpass $1 billion in revenue by 2026. This puts womenâs health - and more specifically midlife health - in the spotlight as a major growth engine. (Continue reading: Hims & Hers)
đ UK: Alternaleaf launches UKâs first womenâs health cannabis service. More women are seeking alternatives to conventional painkillers and long NHS waiting times, says Alternaleaf. Its team of gynaecologists and womenâs health specialists will focus on conditions such as endometriosis and perimenopause-related symptoms. The company report female patient numbers up by 50% every three months over the past year. (Continue reading: Business of Cannabis)
đ U.S: Y Combinator backed Play Health launches data-driven perimenopause platform. Unlike many consumer wellness apps, Play Healthâs stated goal is to build the most comprehensive dataset on perimenopause to date - one that could inform future clinical research and more individualized care pathways. For users it combines at-home hormone-testing, daily symptom and lifestyle tracking and personalized insights. It aims to help them make informed choices rather than simply manage symptoms. (Continue reading: FutureFemHealth)
đ U.S: Tia cuts 23% of its workforce amid pressure to show profitability. Following feedback from investors, cost pressures from rising labor rates and tighter reimbursement rates, Tia is cutting back. The startup runs 11 clinics in the U.S alongside options for virtual care. (Continue reading: AOL.com)
đ SWITZERLAND: FemmeHealth Alliance launches to connect Europeâs womenâs-health ecosystem. Europeâs womenâs-health sector has no shortage of scientific excellence â but too often, breakthroughs stall before reaching patients. Enter the FemmeHealth Alliance (FHA), a new Swiss non-profit set on closing the gap between science, policy, and investment with convenings, partnerships, and research dialogues. Its first event, The Business of Womenâs Health 2025, begins on Oct 23. (Continue reading: FutureFemHealth)
đ CANADA: My Normative launches cross-sector push to fix womenâs health data bias. The Persons Project brings together nine research and industry partners - from Clue to GSD Health - to confront entrenched data gaps. This six-month initiative aims to prove that collaboration, not competition, is the key to building sex- and gender-aware science. The project takes its name from the landmark October 18, 1929 âPersons Caseâ, when Canadaâs highest court declared that women were legal âpersons.â (Continue reading: FutureFemHealth)
đ AUSTRALIA: New FemTech map. Market data is scarce, the Australian FemTech sector is valued at approximately $700m AUD in 2023. With an estimated 56 start-ups - 18 of which are dedicated to menstrual health - this new map from the new network SxRX Collective is an overview of opportunities for investment and impact. (Continue reading: SxRx Collective)
đ UK: What do 1,000 women think about the future of womenâs health? A YouGov poll with Eka Ventures examines where women seek information, how they buy, and which unmet needs are shaping the next wave. The headlines? trust is still key to decision-making, while younger groups go for AI tools, forums and multiâchannel journeys; menstrual and incontinence care remain highâneed and highâspend; postnatal support gaps are ongoing; integrated, preventative models are overdue; and the category needs to be treated as core infrastructure not a niche vertical. (Continue reading: Eka Ventures on Substack)
This weekâs poll
Last weekâs poll asked âcan AI in womenâs health ever truly overcome bias?â This was a clean split with 32% saying âYesâ, 32% saying âpossiblyâ and 36% saying âNoâ.
đ©ž Research and womenâs health news
đ EUROPE: Menstrual blood breakthrough shows promise for earlier endometriosis detection. Endogene.bio believe theyâve found a way to read menstrual blood that could transform how endometriosis is diagnosed. Their method of working with fresh stem cells has hit 81% accuracy in a small study, hinting at a non-invasive test that could replace surgery and shorten diagnosis from years to weeks for the one in ten women who suffer from endometriosis. (Continue reading: FutureFemHealth)
đ Policy watch: risks and opportunities
đ U.S: Trumpâs IVF announcement disappoints everyone - even his own supporters. During the 2024 presidential campaign, Trump claimed he would make IVF free for people in the U.S. His official plan, released last week, reduces the cost of IVF and issues guidance to encourage more employers to cover IVF. (Continue reading: MSNBC)
đ UK: Womenâs healthcare stuck in the Nineties says health tsar. Professor Dame Lesley Regan has said Britain has become âcomplacentâ about womenâs health and that red tape is blocking progress. Sheâs shared plans for a âbright yellow front doorâ to speed innovations through the NHS and government. (Continue reading: The Times [paywall])
đ U.S: Can this founder take the politics out of womenâs health? A new organisation called 51&, cofounded by Jodi Neuhauser and Candace McDonald, is building a $900 million bipartisan movement to unlock research and progress for womenâs health. (Continue reading: Fortune)
đ Save the date
LINKEDIN LIVE: Oral careâs role in womenâs health: Virtual. October 29, 13.00hrs ET / 12.00hrs CT / 10.00hrs PT.
What does gingivitis have to do with fertility?! When we think about womenâs health, oral care rarely makes the list. But emerging science shows that the oral microbiome is deeply connected to our overall well-being, influencing everything from inflammation to fertility.
Join Dr Brittany Barreto on Wednesday, October 29 at 1pm ET for a LinkedIn Live conversation with Dr. Camille Zenobia, PhD, cofounder and CEO of OSSA Oral Care - a brand reshaping oral care with science-backed innovation.
đ Register here.
Thatâs all for this week! If youâve missed any previous newsletter issues catch them all at futurefemhealth.com and do make sure to follow us on LinkedIn.
Anna
PS. FutureFemHealth reaches nearly 8,700 decision-makers and professionals in womenâs 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
Hey, great read as always. This shift is truly inspiring. Reminds me of Pilates; consistent effort eventually showing clear results. Investing in womens health is just as vital.