📝 Elle MD Technologies raises $800k

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Nova Scotia-based healthtech startup Elle MD Technologies has raised $800,000 in an all-equity pre-seed funding round led by investors including H Venture Partners, Invest Nova Scotia, and the New Brunswick Innovation Foundation. Founded by family physician Dr. Jennifer Johnston, the startup has accumulated $1.8 million in total combined funding to date, including non-dilutive grants, to develop its non-hormonal, monthly contraceptive ring called the Livv. Functioning similarly to flexible vaginal rings like NuvaRing, the silicone-and-copper device utilizes copper to interfere with sperm fertilization without releasing synthetic hormones or requiring clinical insertion and removal procedures like an IUD. Elle MD will deploy the new capital to conduct its first in-human safety clinical trial at The Ottawa Hospital this fall, building on successful pre-clinical testing in animals and collaboration through an accelerator program with women's health pharmaceutical firm Organon.

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