Women’s health and medical device start-up Cosm Medical (“Cosm”), has announced it has raised US$3.8M in seed funding, led by Fusion Fund, with participation from iGan Partners, MaRS IAF, TELUS Pollinator Fund, and several industry experts, physicians and angel investors. Additionally, Lu Zhang of Fusion Fund will be joining Cosm’s Board of Directors.
“Many women’s health needs have long been unmet due to the lack of investment and innovation in the space,” said Lu Zhang, Founder and Managing Partner of Fusion Fund. “We are excited about the potential for Cosm’s unique AI and data-driven platform to change the standard of care for women suffering from pelvic floor disorders.”
Cosm will use the proceeds to expand R&D, operations, and clinical studies while achieving market approvals from FDA and Health Canada for Gynethotics.
Cosm is the 2021 winner of the BASF Additive Manufacturing, RESI Digital, and TieQuest Toronto pitch competitions. The company is developing a digital gynecology platform to create gynecological prosthetics, GynethoticsTM, to provide a personalized and holistic approach to improving the lives of women suffering from prolapse and incontinence. The current standard of care with gynecological prosthetics, commonly known as pessaries, involves trial-and-error with 100+ shapes and sizes and has relatively poor patient compliance and high complication rates.
“On the heels of success for our first clinical study, we’re excited to be partnering with Fusion Fund and our other investors to bring world-class technologies in a streamlined platform for a growing, stigmatized, and underserved women’s health market.” says Derek Sham, Cosm’s Founder and CEO. “While working as a general manager for a gold-standard urology diagnostics company, I had to watch my grandmother’s health decline because of pelvic floor disorders and knew there had to be a better way.”
About Cosm Medical
Cosm Medical is creating Personal Pelvic Health – a digital gynecology platform to personalize care for women affected by pelvic floor disorders such as pelvic organ prolapse and incontinence. Using emergent ultrasound, artificial intelligence and 3D printing, Gynethotics will personalize pelvic health devices so more women can live and age with dignity and grace.
