Athena Feminine Technologies Closes Series A Preferred Financing
Emeryville, CA – September 1, 2009 – Athena Feminine Technologies announced today that is has closed a $2 million Series A Preferred Stock investment from vSpring Capital.
“Athena is very excited to partner with vSpring Capital,” said David Berryman, CEO of Athena. “This investment will allow us to greatly accelerate our sales and marketing efforts, which will allow us to help more women worldwide that suffer with incontinence.”
“Women’s health is a very key component of the healthcare market,” said Dinesh Patel, Ph.D., Managing Director of vSpring. “Athena’s initial product addresses a problem that will affect one in three women during their lifetime. We anticipate that our investment will help Athena reach its potential in this important market.”
About Athena Feminine Technologies:
Athena Feminine Technologies, Inc. (www.athenaft.com) develops, produces, and markets innovative proprietary devices for women’s health. Athena’s first product, the Athena Pelvic Muscle Trainer™ (PMT), has been developed for the treatment and prevention of female incontinence. The product has FDA approval in the U.S. and CE and ISO Certifications for most of the world. The product provides effective, non-invasive relief of stress, urge or mixed incontinence, and can be used in the privacy of the home. The product has been recognized by two of the most prominent groups involved in consumer and professional education, the National Association for Continence (NAFC) and the National Association of Nurse Practitioners in Women’s Health (NPWH).
APL Capital Advisors (www.APLcapital.com) acted as Athena’s financial advisor in the transaction.
About vSpring Capital:
vSpring Capital (www.vspring.com) is an early-stage venture capital firm with approximately $400 million under management. With offices in Utah and New Mexico, vSpring invests in information technology and life science companies that have the potential to transform their markets and create lasting value.
Contact:
David Berryman, CEO
Athena Feminine Technologies, Inc.
866-308-4436
dberryman@athenaft.com
www.athenaft.com
