The startup, which is based at the New Orleans BioInnovation Center downtown, is developing the idea of a young Tulane graduate which will hopefully lead to safer intrauterine birth control. This type of birth control, called IUD’s, currently requires to use multiple tools to insert the birth control device into a woman’s uterus.
While the procedure is relatively safe and performed thousands of times a day, the more tools involved the more likely there is a risk for puncturing the uterine wall. With Bioceptives insertion method it reduces the number of tools needed to insert the birth control.
The $385,000 in seed money came from private investors, venture capital funds, physicians and Tamara Kreinin. Kreinin is the former executive director of women and population with the United Nations Foundation in Washington DC.
The BioInnovation Center opened last fell. Bioceptive is the latest center tenant to receive funding. The center is an incubator for Biotech startups in the region.
Source: New Orleans City Business
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