Femasys, Inc. (FEMY), a biomedical company focused on innovative solutions for women's health, on Thursday announced a major milestone with the United States Patent and Trademark Office issuing a Notice of Allowance for its U.S. patent application covering the use of FemaSeed for infertility treatment.
FemaSeed is an advanced artificial insemination device designed to deliver sperm directly into the fallopian tube, the natural site of conception.
Once issued, this new patent will provide additional intellectual property protection for FemaSeed, which received U.S. FDA clearance in September 2023 and regulatory approval in Canada and Europe.
Femasys plans to expand its patent portfolio further, including over 180 global patents, to protect its suite of women's health products.
FemaSeed is positioned as a safe, affordable, and effective alternative to in vitro fertilization (IVF), with positive clinical data demonstrating its efficacy compared to traditional intrauterine insemination methods.
Kathy Lee-Sepsick, Femasys' CEO, stated, "The allowance of claims for FemaSeed marks a key milestone in protecting this innovative infertility solution, currently marketed in the U.S. and Spain. With over 180 global patents, we are committed to safeguarding FemaSeed and our entire suite of accessible, cost-effective products for women."
Cash position:
Cash and cash equivalents as of September 30, 2024, was $7.6 million and the Company had an accumulated deficit of $122.1 million. The Company expects, based on its current operating plan, that its existing cash and cash equivalents will be sufficient to fund its ongoing operations into July 2025.
Currently, FEMY is trading at $1.09 up 2.83%.
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