Intimate Bridge 2 Conception Inc. said it obtained $4.3 million in financing to prepare its first reproductive aid device for sale next year.
The device known as the Stork is meant for in-home use and is being evaluated by the Food and Drug Administration, Ib2C said Thursday. It's billed as a simple, affordable alternative to methods that typically include invasive procedures and trips to physicians' offices. Technology behind the Stork achieves results similar to intrauterine insemination, the company said.
The money earmarked for manufacturing and marketing comes from an unnamed private, Pennsylvania-based investment group and the PLSG Accelerator Fund, a $10 million for-profit fund managed by Pittsburgh Life Sciences Greenhouse professionals.
