In recent years, the landscape of venture funding has seen a notable shift towards innovative healthcare solutions, particularly in the realm of women’s health technology, often referred to as femtech. Despite receiving only a fraction of healthcare innovation funding, the femtech sector has demonstrated resilience and growth. According to Deloitte’s research, while the broader health tech market experienced a 27% decline in venture funding between 2022 and 2023, investments in women’s health companies saw a 5% increase.
This upward trend is further evidenced by the rapid expansion of the women’s health startup ecosystem, with FemHealth Insights reporting that over 60% of current femtech companies were established between 2018 and 2022. The sector has evolved beyond its initial focus on pregnancy and fertility, now addressing a more comprehensive range of issues, including menopause, pelvic health, and mental well-being.
Armistice Capital, a global value-oriented and event-driven hedge fund founded by Steven Boyd, is at the forefront of this investment wave. Armistice Capital has shown particular interest in companies developing cutting-edge solutions for women’s health. A prime example is their significant investment in Aspira Women’s Health Inc., where Armistice holds the position of top investor with 1,157,000 shares valued at $3,586,700 as of March 31, 2024.
Aspire Women’s Health has made strides in developing AI-powered, non-invasive tests for gynecologic diseases. Their OvaWatch and Ova1Plus products aim to revolutionize ovarian cancer risk assessment and diagnosis. The company is also making headway in creating a non-invasive test for endometriosis, which affects millions of women worldwide.
Steven Boyd’s Armistice Capital has not limited its focus to femtech alone. The fund has demonstrated a keen interest in broader biotech research, particularly in areas that intersect with women’s health. In 2023, Armistice participated in a private placement for Spruce Biosciences, a late-stage biopharmaceutical company developing polycystic ovary syndrome (PCOS) treatments. Spruce’s tildacerfont, a novel oral antagonist, shows promise in addressing PCOS symptoms by potentially reducing adrenal androgen production.
Armistice Capital’s investment strategy extends to companies tackling other critical health issues. For instance, the fund has invested in Bone Biologics Corporation, a company whose bone regeneration technology could significantly impact osteoporosis treatment—a condition that disproportionately affects women.
Beyond women’s health, Steven Boyd’s Armistice Capital has shown interest in ocular research and treatments. The fund has made strategic investments in companies like Eyenovia, which is developing innovative ophthalmic drug delivery systems, and Outlook Therapeutics, which is working on a formulation to treat retinal diseases.
In March of this year, Armistice Capital participated in a private placement for GenSight Biologics, a biotech company developing gene therapies for retinal neurodegenerative diseases. This investment underscores Armistice’s commitment to supporting groundbreaking research in diverse areas of medical science.
Through Armistice Capital, Steven Boyd has positioned the fund as a significant player in the evolving landscape of health tech investments. By focusing on areas such as women’s health and ocular research, Armistice seeks financial returns and supports developing potentially life-changing medical technologies.
As the femtech market continues to grow and diversify, and as ocular research advances, Steven Boyd’s Armistice Capital appears well-positioned to capitalize on these trends while contributing to meaningful progress in healthcare innovation. The fund’s strategic investments reflect a nuanced understanding of the healthcare sector’s evolving needs and the potential for technology to address long-standing medical challenges.