Femasys raises $10.2 million in Series B financing round

Femasys raises $10.2 million in Series B financing round

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Femasys Inc. raised a $10.2 million Series B financing round from some big players in the lifesciences investment world.

Femasys Inc. raised a $10.2 millionSeries B financing round from some bigplayers in the life sciences investmentworld.

The Suwanee, Ga.-based developer ofmedical devices for the women's health-care market reported the investorgroup was led by Southlake, Texas-based Legacy Capital Partners andMario Family Partners, the familyoffices of life sciences industry veteransJohn Adams Jr. and Dr. Ernest Mario

John Adams Jr. Adams, the former CEO of Adams Respiratory Therapeutics, will join the company'sboard of directors.

Femasys developed a non-surgical female sterilization device (FemBlo Permanent ContraceptiveSystem) that allows physicians to deliver a biomaterial through a catheter based system topermanently block the fallopian tubes allowing for a reduction in risks and costs by eliminating theuse of anesthesia and permanent implants.

Mario Family Partners is the private equity arm of Mario's family office. Mario was the former CEOof Alza Corp., which was sold to Johnson Johnson for $12 billion in 2001, the largest-ever MA dealfor JJ at the time.

Salem Partners, a Los Angeles-based investment bank focused on life sciences, advised the companyon the transaction and participated as a principal investor.

Phil W. Hudson is a finance, music and sports reporter.

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