Stanford-StartX Fund is among medical device developer Madorra’s backers, along with Fogarty Institute of Innovation and OneVentures Healthcare.
Madorra, a US-based medical device developer co-founded by former fellows of Stanford University, has obtained $6m in capital from backers including Stanford-StartX Fund, Business Insider Australia reported on Wednesday.
The round was led by venture capital fund OneVentures Healthcare with a $4m investment and also featured research centre Fogarty Institute for Innovation.
Founded in 2014, Madorra has created a medical device for the treatment of vaginal dryness associated with vulvovaginal atrophy, a chronic condition that primarily hits post-menopausal women and patients who have received treatment for breast cancer.
The device is intended to supplant hormone replacement therapies often favoured for treatment at present, which can cause serious side effects such as heart disease, cancer and blood clots.
Madorra was co-founded by two former biodesign fellows of Stanford University, Holly Rockweiler and Ryan Krone. The cash will fund clinical trials of Madorra’s device in Australia.
Madorra…
