PORTSMOUTH, N.H., July 17,
2024 /PRNewswire/ -- Leading diagnostic and
therapeutic medical technology company Laborie Medical Technologies
Corp. (Laborie) announced its investment in Novocuff, an
early-stage medical technology company headquartered in
Mountain View, CA. The company's
mission is to transform the standard of care and improve pregnancy
outcomes for women and their newborns.
"We are excited to have Laborie's support at this early stage,"
said Novocuff co-founder & CEO Amy
Degenkolb. "This investment propels us forward in our
companies' shared mission to revolutionize healthcare for pregnant
women and newborns worldwide."
Founded in 2021, Novocuff has developed a groundbreaking
medical device aimed at stabilizing and closing the cervix to
retain amniotic fluid and sustain cervical length, with the goal of
extending pregnancy. The company is pursuing a novel
approach to provide a solution to treat Preterm Premature Rupture
of Membranes (PPROM) and cervical shortening, major contributors to
preterm birth that impact millions of families worldwide each year.
Preterm birth (before 37 weeks gestational age) is a leading cause
of infant death globally.
"For the last 30 years, our mission has been to help every
mother and every newborn go home healthy," said Nikki Bruce, Vice President and General Manager
of Laborie's OB Business Unit. "We believe Novocuff's device has
the potential to address pregnancy complications that often result
in preterm birth, and our investment underscores our commitment to
improving patient outcomes."
"Patricia Industries is committed to supporting Laborie in its
mission to provide patients and clinicians with innovative tools
that elevate the standard of care, which aligns with our purpose of
creating value for people and society by building strong and
sustainable businesses," said Yuriy Prilutskiy, Co-Head of
Patricia Industries, a part of Investor AB, and owner of Laborie
Medical Technologies.
About Laborie Medical Technologies
Headquartered in
Portsmouth, New Hampshire, Laborie
is a global medical technology company focused on Urology,
Urogynecology, Gastroenterology, Obstetrics, Gynecology &
Neonatal Health. We manufacture and deliver high-quality,
high-impact diagnostic and therapeutic products that help
clinicians and hospitals preserve and restore patient dignity.
Clinicians and hospitals look to us as the market-leading experts
in our business segments, and we support our products with a
world-class clinical education & information program. Laborie
is a portfolio company of Patricia Industries. For more information
visit www.laborie.com.
About Novocuff
Novocuff, Inc. is a medical device company dedicated to improving
pregnancy outcomes and reducing preterm births caused by Preterm
Premature Rupture of Membrane (PPROM) and cervical shortening.
Preterm birth is the leading cause of death for infants under the
age of one. According to the World Health Organization (WHO),
preterm birth complications were responsible for approximately 1
million deaths in 2020. The Novocuff Cervical Control System (CCS)
has been designed as a simple device to address the complex
problems associated with the preterm conditions of PPROM and short
cervix.
About Patricia Industries
Patricia Industries is a long-term owner that invests in companies
and works to develop each company to its full potential. Patricia
Industries is a part of the industrial holding company Investor AB,
whose main owner is the Wallenberg Foundations.
About Investor AB
Investor, founded by the Wallenberg family in 1916, is an engaged
owner of high-quality, global companies, with a long-term
investment perspective. Through board participation, industrial
experience, global network and financial strength, Investor works
continuously to support its companies to remain or become
best-in-class.
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SOURCE Laborie Medical Technologies