PITTSBURGH, Dec. 22, 2011 /PRNewswire/ -- Intimate Bridge 2 Conception, Inc. (Ib2C™), a Pittsburgh-based direct-to-consumer medical device company that is focused on reproductive health, announced today that it has closed on a $4.3 million Series A financing. The round was led by a private, Pennsylvania-based investment group and was joined by the PLSG Accelerator Fund. Ib2C will use the proceeds of this round for manufacturing and marketing to prepare for the launch of its first product in 2012.
Ib2C™ is developing healthcare products to assist women and couples to achieve their reproductive goals. Ib2C™'s lead product, the Stork™, is a proprietary device that is intended to assist couples with conception in the privacy of their own homes. The Stork™ is designed to address the unmet need of a growing market of couples that grapple with fertility challenges. It is a simple, private, affordable, non-pharmaceutical product that will provide couples with an alternative to Assisted Reproductive Technology (ART), which can involve invasive procedures, trips to physician offices, long delays, and can be both expensive and unpredictable. The Stork™ is currently being evaluated by the FDA for safety and effectiveness. The technology behind the Stork™ has been shown historically to achieve results that are comparable to those of intrauterine insemination (IUI.)
"We are grateful for this capital from our new investors and appreciate their support for our mission to build families naturally," said Ib2C™'s Founder and CEO Steve Bollinger. "Today, one in six women seeks help conceiving. This segment of the population has very few options, most of which are slow, invasive, costly and frequently awkward. We are delighted to offer them an option that can deliver technology, hope and control in the privacy of their own home." Mr. Bollinger continues, "This financing will en
|SOURCE Pittsburgh Life Sciences Greenhouse|
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