Fertility treatment startup Myma Medical has secured further funding of 拢145,000 from innovation management consultants LYVA Labs.
It takes the total investment and grant leverage support from LYVA Labs to 拢779,000.
LYVA Labs invested 拢105,000 in Myma Medical in 2022, enabling the company to secure an Innovate UK SMART grant of 拢389,000 whilst creating a spinout company from the University of Birmingham.聽
The company leveraged a further 拢140,000 Innovate UK Future Economy Investor Partnerships grant, with support from LYVA Labs.
Myma Medical鈥檚 autoICSI system is part of the next generation of fertility treatment.
Its patented automated egg manipulation and sperm injection technology, minimises inconsistencies that are inherent in the manual process, significantly improving IVF success rates.
鈥淚nvestment from LYVA Labs will allow the company to complete the development of autoICSI and associated AI based high-definition vision camera system in record time, to get the system ready for full clinical trial and to present it for regulatory approval before commercialisation,鈥� said Myma Medical CEO Yash Khandhia.
The AI-based high-definition vision camera system employs algorithms and artificial intelligence in the detection and positioning of eggs, prior to injection. Meanwhile, an AI-based algorithm assesses sperm morphology (shape and size) and motility (movement), against a clinical benchmark, to make sure the most viable sperm is chosen.
Using automated ICSI could reduce the number of IVF cycles a person needs for a successful outcome, because each round is more likely to be successful.聽
One in six people worldwide experience issues with infertility, whilst the cost of a round of IVF can be around 拢12,000. Any technology that improves IVF outcomes could significantly reduce this cost for people needing IVF.
Lorna Green, CEO of LYVA Labs, said: 鈥淲e鈥檙e delighted to provide further investment and business support to Myma Medical. They are developing a technology that can bring about a step change in the success of fertility treatments and deliver real results for families across the UK.
鈥淢yma Medical is the perfect example of combined authority investment funding working in tangent with national innovation funding, to support a start-up to commercialise their innovation and stimulate the regional economy.鈥�