Salt Lake City, UT, October 28, 2024 – Paterna BioSciences, a leading biotechnology firm focused on tackling male infertility, has announced the completion of a $6 million seed funding round, exceeding expectations. Spearheaded by SpringTide Ventures, with contributions from e184 and others, the investment will propel the development of Paterna’s groundbreaking in vitro spermatogenesis (IVS) technology, set to revolutionize male and couple fertility treatments globally.
Male infertility contributes to about 50% of failed in vitro fertilization (IVF) cycles worldwide, underscoring a pressing need for novel treatment options. Despite this, fertility care has seen minimal innovation in recent decades. Paterna’s IVS technology addresses this gap by offering a transformative approach that could improve IVF success rates, bringing new hope to countless families.
Dr. Alexander Pastuszak, CEO of Paterna BioSciences, expressed optimism about the company’s future: “This funding milestone represents a turning point for Paterna and reproductive medicine. Our IVS technology has the potential to reshape fertility treatment, placing male infertility treatment on equal footing with female fertility care and enhancing couples’ options globally. We deeply appreciate the support from our investors who share our vision of making infertility a thing of the past.”
Dr. Antonio Pellicer, Chairman of IVI RMA Global, reinforced the potential of Paterna’s work, stating, “As a global leader in reproductive medicine, we understand the need for innovation in fertility treatment. Paterna’s approach to in vitro spermatogenesis could be transformative for patients, raising success rates and expanding treatment options around the world.”
The funds will drive the progression of Paterna’s IVS technology through preclinical stages and support company growth, with plans to initiate early-phase trials in 2025. Following FDA approval, Paterna aims to bring its male fertility solution to market.
SpringTide Ventures’ Partner Ryan Morley, the lead investor, praised Paterna’s approach: “Paterna BioSciences embodies the innovation and scientific rigor we prioritize. Their solution addresses a neglected area in fertility treatment, which has remained largely unchanged for nearly 30 years, and could significantly lower costs while enhancing outcomes. We are excited to support the Paterna team as they work to fulfill families’ hopes of parenthood.”
Alex Pisanov, Managing Director at e184, added, “At e184, our goal is to support organizations advancing humanity through science and technology. Paterna’s IVS technology is poised to change the landscape of human reproduction, and we are proud to back such a pioneering company.”
Additional investors in this round include the Utah Innovation Fund, Freya Ventures, Divergent Capital, Seaside Ventures, and several private investors.
Paterna’s science is rooted in over a decade of collaborative research by its founding team, led by CEO Dr. Pastuszak, a seasoned expert in reproductive medicine and urology. Joined by co-founders Dr. Jim Hotaling, Dr. Brad Cairns, and Dr. Kyle Orwig, the team has successfully replicated the in vivo environment required for spermatogenesis, paving the way for the application of this knowledge in IVS and offering new possibilities for male infertility treatment.
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