Femasys Inc. Secures Additional Financing with Strategic Investment from Investors led by PharmaCyte Biotech
ATLANTA, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Femasys Inc. (NASDAQ: FEMY), a biomedical company focused on meeting significant unmet needs for women worldwide with a broad portfolio of in-office, accessible solutions, including a lead, late-clinical stage product candidate and innovative therapeutic and diagnostic products, today announced a strategic upfront investment of $6.85 million by public biotech company, PharmaCyte Biotech, Inc. (Nasdaq: PMCB) and other healthcare investors.
- “We are thrilled to announce this strategic investment, which coupled with other recent financing activities, will allow Femasys to commercialize our infertility-related products, FemaSeed® and FemVue®.
- As part of the terms of the investment, seasoned life sciences executive, Joshua Silverman, current interim chief executive officer of PharmaCyte, will be joining the Femasys board of directors.
- Ms. Lee-Sepsick continued, “This strategic investment includes the addition of Mr. Silverman to our Board of Directors, which further aligns with our interests.
- Previously, he served as Co-Chief Investment Officer of Iroquois from 2003 until 2016 and Co-Chief Investment Officer of Vertical Ventures, LLC from 2000 to 2003.