HERA HEALTH SOLUTIONS SHOWCASED AT MEMPHIS DEMO DAY AND KICKS OFF FUNDRAISING ROUND
Startup developing innovative implant technology graduates from Zeroto510 Accelerator Program subsequently kicking off its seed raise
MEMPHIS, Tenn. (August 16, 2018) – Hera Health Solutions announced today it has completed the Summer of Acceleration as part of the ZeroTo510 program and has subsequently officially kicking off its seed raise.
Hera Health Solutions’ (HHS) entry to market is through the development of a biodegradable contraceptive arm implant, which sits just beneath the skin to provide effective birth control. It aims to fill the market gap for long-acting reversible contraception as well as solve the safety concerns surrounding the removal procedures of the current marketed implants and IUDs. However, HHS’ proprietary technology can be streamlined to deliver other long acting medications or treatments.
The company, whose presentation will mark its successful completion of the nationally-ranked ZeroTo510 medical device accelerator program, originated from the Wallace H. Coulter School of Biomedical Engineering at the Georgia Institute of Technology. The founding team led by co-founder and CEO, Idicula Mathew, researched and created a novel method for long-acting pharmaceutical treatment.
Over 170 million Americans have to take at least one prescription medicine daily. To combat major issues involving compliance, drug-eluting implants have taken the medical field by storm. One of the most popular long-acting drug-eluting implants on the market today is in the field of contraception. This implant must be removed through an invasive and potentially costly and risky procedure, which results in complications including bruising, scarring, and loss of the implant in the arm. This problem is further exacerbated in developing regions of the world where reliable access to daily prescription options is infrequent or cultural opposition to contraception exists, making the implant the only long-acting and discreet method available.
Hera Health’s first patent-pending product, Eucontra, combines biodegradable material from previously FDA-approved products with the generic pharmaceutical to deliver safe, discreet, and long-acting implantable contraception that does not have to be removed.
HHS’ great strides over the past one hundred days include determining a full regulatory pathway and strategy, establishing key industry partnerships with industry experts, and filing a full nonprovisional patent on their technology.
The Summer of Acceleration Demo Day is an annual event hosted by Start Co which allows high-growth startup companies in the home services, medical device, logistics, and social enterprise fields working in Memphis to showcase their progress made during their accelerators. You can learn more about Hera Health Solutions by visiting their website at herahealthsolutions.com.
ABOUT HERA HEALTH SOLUTIONS INC
Hera Health Solutions (HHS) is a pharmaceutical device company seeking to redefine the way people take long-term prescription drugs. HHS specializes in the research, development and commercialization of long term treatments through proprietary biodegradable implants by using existing generic drugs in combination with already FDA-approved structural materials. www.herahealthsolutions.com