Paula Newell, AVeta Medical
A Hormone-free and Effective treatment of Vaginal Atrophy Suitable for All Women
What problem are you solving and what is innovative about your approach?
Vaginal Atrophy (VA) is a chronic and progressive condition that impacts on a woman’s quality of life, intimate relationships and makes it uncomfortable to sit, stand, urinate or even work. It occurs naturally to 80% of all women globally. Chemotherapy treatments induce early menopause to Breast Cancer Survivors and the drugs they take to remain cancer free further exacerbate the symptoms of VA. The number of women with VA is rising, driven by aging populations, longer life expectancies, better breast cancer survival rates and a more educated, informed, motivated demographic who want hormone-free solutions.
Current treatment options: Over the Counter products and Hormonal Therapy are not meeting women’s needs. They are poorly tolerated, ineffective, present with clinical side effects and risks and are not suitable for long term use or for all women sufferers of VA. Women deserve, want, and need better treatment options to treat VA. AVeta is this solution.
AVeta delivers a hormone-free, safe, affordable solution that is suitable for all women sufferers. It will be clinically prescribed in an outpatient setting. Treatment is natural and immediate based on the body’s healing response. It fits seamlessly into a woman’s life as it is only used monthly at home for a short duration. AVeta will radically transform the VA market as currently only served by pharmaceuticals.
How is this idea commercially attractive?
There are 14.6 million women in Europe and USA seeking treatment for VA. There are 3.6m women; Postmenopausal women and Breast Cancer Survivors who have no treatment option. This represents a €2.5 billion market opportunity. AVeta is seeking to provide a solution for these women as their initial customer base. This will provide a platform to target a further 6 million women sufferers taking hormonal therapy but are not happy with its side effects or safety issues but have no hormone-free alternative. AVeta will target high volume and niche clinics within Europe and the USA. The clinical trial centres will be AVeta’s first customers.
AVeta Medical has been recently awarded the EIC accelerator grant of €2.5 million to expand the team, conduct a USA multi-centred clinical trial and obtain FDA approval. This funding will bring the AVeta device a step closer to providing a much wanted and needed solution to millions of women suffering from VA.
What do you hope to achieve by participating in Big Ideas?
AVeta Medical is excited about growing an innovative Irish company in the Femtech space.
Big Ideas provides an invaluable opportunity to promote our profile and attract passionate team members in R&D (mechanical, electronics, and QA) to join the AVeta team. AVeta Medical also seeks to connect with potential strategic investors to scale the business in a market ripe for disruption where customers and clinicians are craving a safe, efficacious, and lasting solution.