October 28, 2024
$6 million oversubscribed seed investment to advance pioneering in vitro spermatogenesis science, offers new hope for people struggling with infertility.
“Paterna is poised to redefine reproductive health with our first-of-its-kind in vitro spermatogenesis technology. With this funding, we are a step closer to expanding access to fatherhood for millions.”
Alexander Pastuszak, MD, PhD, CEO, Paterna
SALT LAKE CITY, UT, UNITED STATES
Paterna BioSciences, a pioneering biotechnology company dedicated to solving male infertility, today announced the successful closure of a $6 million oversubscribed seed funding round, led by SpringTide Ventures, with participation from e184 and others. The investment will accelerate the development of the company’s innovative in vitro spermatogenesis (IVS) technology, poised to transform male and couple fertility treatment worldwide.
Male infertility contributes to approximately 50% of failed in vitro fertilization (IVF) cycles globally, highlighting an urgent need for new treatment options. Despite these high failure rates, fertility care has seen limited innovation for decades. Paterna’s IVS science addresses this critical gap by offering a novel solution that stands to improve IVF success rates for countless families worldwide.
Alexander Pastuszak, MD, PhD, CEO of Paterna BioSciences, expressed his enthusiasm: “This seed funding marks a pivotal moment for Paterna and the field of reproductive medicine. Our in vitro spermatogenesis (IVS) science has the potential to fundamentally change reproductive health treatment, putting male infertility on par with female fertility, and improving how couples around the world receive fertility care. We are grateful for the support of our investors who share our vision of making infertility history.”
The seed funding will be used to advance Paterna’s IVS technology through preclinical development, as well as to develop the company’s infrastructure and grow its team. Paterna expects to enter early-phase studies in 2025 and will bring its male fertility solution to market after FDA approval.
Other investors include the Utah Innovation Fund, Freya Ventures, Divergent Capital, Seaside Ventures, and several individual investors.
Paterna’s science is based on over a decade of collaborative research by its co-founders. The company is led by CEO Alex Pastuszak, MD, PhD, who brings extensive experience in reproductive medicine, urology, scientific research, and entrepreneurship. He is joined by other co-founders Jim Hotaling, MD, MS, FECSM, Brad Cairns, PhD, and Kyle Orwig, PhD. The company has successfully deciphered the in vivo environment for spermatogenesis and is applying this scientific knowledge to in vitro spermatogenesis (IVS), facilitating the treatment of male infertility.