Laborie Medical Technologies Invests in Medical Technology Start-Up Novocuff

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