Israeli startup Virility Medical, which has developed a patch for the treatment of premature ejaculation, has raised $10 million from Migdal Insurance ($8 million) and Arkin investments ($2 million). Virility Medical, which is a portfolio company of Almeda Ventures, is planning to raise $40 million.
The company treats premature ejaculation by using a drug-free, skin patch based on EMS (Electrical Muscle Stimulation) in contrast to other medical interventions such as medication, which can cause side effects. The skin patch, which is clinically proven to prolong sexual intercourse, FDA-cleared and CE - mark approved.
Virility’s marketing strategy in the US and Europe focuses on selling the product via online platforms directly to the consumer, and to lead drugstores such as Boots, Walgreens, CVS, Walmart, and more.
About 25% of the male population suffers from premature ejaculation, which is the most common sexual dysfunction for men.
The company was founded in the NGT3 technological incubator in Nazareth by CTO Tal Gollan and is currently managed by CEO David Salton.
Salton said, "Such rapid securing of this investment, given current market conditions which are characterized by great uncertainty, indicates the business potential inherent in Virility."
Published by Globes, Israel business news - en.globes.co.il - on July 21 2022.
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