Femasys Inc., a biomedical company, focuses on women's healthcare market in the United States. The company develops permanent birth control solutions, such as FemBloc and FemChec; FemaSeed, an artificial insemination solution; FemCerv, a biopsy device for endocervical curettage; and FemEMB, a product candidate for endometrial sampling in support of uterine cancer detection testing. It also commercializes FemVue saline-air device in the United States, Europe, Canada, Japan, and internationally. The company offers its infertility products to obstetrics-gynecological physicians, related healthcare professionals, women's healthcare provider organizations, and reproductive endocrinologists. In addition, it provides non-surgical product technologies. Femasys Inc. was incorporated in 2004 and is based in Suwanee, Georgia.
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- A specialized women's health medical device company, akin to a more focused Hologic for reproductive health solutions like non-surgical contraception and fertility.
- A medical device innovator for women's reproductive health, aiming to develop less invasive solutions, much like Intuitive Surgical innovates surgical tools, but specifically for contraception and fertility.
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FemBloc®: An investigational, non-surgical device designed to provide permanent birth control through tubal occlusion.
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FemaSeed®: An investigational intrauterine device designed to facilitate conception by delivering sperm directly into the fallopian tube.
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FemCerv®: A single-use cervical retractor designed to provide improved visualization and access to the cervix during gynecological procedures.
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FemCath®: An investigational atraumatic catheter system designed for accessing the fallopian tubes to deliver diagnostic or therapeutic agents.
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Femasys (FEMY) Major Customers
Femasys (symbol: FEMY) primarily sells its medical devices to other companies, specifically healthcare providers and facilities that perform gynecological procedures. As a medical device company, its products are designed for professional use in clinical settings.
Due to the nature of its business and its current stage of commercialization, Femasys does not typically disclose specific major customer names in its public filings. Its customer base is composed of a fragmented market of healthcare organizations. These "customer companies" are generally private entities or parts of larger hospital systems and, as such, typically do not have public stock symbols.
The types of healthcare organizations that serve as Femasys' customers include:
- Hospitals: Medical institutions that provide a wide range of healthcare services, including gynecological procedures.
- Ambulatory Surgery Centers (ASCs): Specialized outpatient facilities where surgical procedures that do not require an overnight hospital stay are performed.
- Specialized Clinics and Physician Practices: This category includes OB/GYN clinics, fertility clinics, and individual gynecologist practices that focus on women's health.
There are no specific publicly traded companies listed as major customers in Femasys' available SEC filings.
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Kathy Lee-Sepsick, President and Chief Executive Officer
Ms. Lee-Sepsick is the founder of Femasys Inc., established in February 2004, and has served as its President and CEO since then. She brings nearly three decades of experience as a top executive in the medical technology sector, with a proven track record in scaling emerging companies and corporate operating divisions. Ms. Lee-Sepsick holds over 200 global patents for Femasys' products and candidates. Prior to founding Femasys, she held strategic, operational, and executive roles at companies such as Novoste Corporation (intravascular therapy) and SaluMedica (biomaterials for artificial cartilage). Early in her career, she managed product strategy at Terumo Medical Corporation, where she collaborated closely with Boston Scientific Corporation. She was inspired to create Femasys to address unmet needs in women's reproductive health, particularly in permanent birth control and infertility. She earned a BS in Biochemistry and an MBA from Rutgers University.
Dov Elefant, Chief Financial Officer
Mr. Elefant was appointed Chief Financial Officer of Femasys, effective February 28, 2022. He has 25 years of financial management experience in both public and private biopharmaceutical companies. His expertise includes financial reporting, fundraising, and mergers and acquisitions. Most recently, he served as the Vice President and CFO of Cellectar Biosciences, a late-stage clinical biopharmaceutical company. Before that, Mr. Elefant was CFO of Celsus Therapeutics until its acquisition by Volution Immuno Pharmaceuticals in 2015, which was then renamed Akari Therapeutics Plc. He also served as CFO at Althera Medical Ltd, a medical device company, and led business operations including equity and debt financings and licensing deals at Lev Pharmaceuticals through its acquisition by ViroPharma in 2009. Mr. Elefant holds a B.S. in accounting from the Sy Syms School of Business at Yeshiva University.
Daniel Currie, Chief Operating Officer
Mr. Currie was designated Chief Operating Officer on August 10, 2023, having served as Senior Vice President, Operations since 2009, and Vice President, Operations since 2004. He possesses over 30 years of operational experience in the medical device industry, working with both early-stage and large established companies. His experience includes working with research and development teams, implementing quality systems, and spearheading compliance and complaint handling systems at CIBA Vision Corporation. As head of Quality at Novoste Corporation, he was involved in design and manufacturing controls, quality auditing, and managing subcontractor operations. Mr. Currie is a graduate of Georgia Southern University with a BBA in Economics.
Kelley Nicholas, Chief Commercial Officer
Ms. Nicholas was appointed Chief Commercial Officer of Femasys on June 17, 2025. She is responsible for leading the execution and optimization of Femasys' commercial strategy to drive revenue growth across its portfolio, with a focus on expanding the U.S. infertility market and building international partnerships. Ms. Nicholas has over 25 years of industry experience, including two decades leading high-performing commercial teams, with a strong record of driving revenue growth and expanding markets in the medical device and biotechnology sectors. Prior to joining Femasys, she served as Head of Sales at NeuroPace.
Christine Thomas, Senior Vice President, Regulatory & Clinical Affairs
Ms. Thomas serves as the Chief Regulatory and Clinical Officer at Femasys. She oversees regulatory and clinical affairs for the company's product candidates.
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Femasys (NASDAQ: FEMY) develops a range of therapeutic and diagnostic solutions focused on women's healthcare needs. The addressable markets for their main products and services are outlined below:
FemBloc (Permanent Birth Control)
FemBloc is Femasys' non-surgical permanent birth control solution. The global contraceptive market, which includes permanent birth control methods, was valued at approximately USD 31.37 billion in 2024 and is projected to reach USD 56.59 billion by 2034, growing at a compound annual growth rate (CAGR) of approximately 6.1% from 2025 to 2034. Another estimate places the global contraceptives market size at USD 19.9 billion in 2024, with a projection to reach USD 43.8 billion by 2034, registering a CAGR of 8.4% during the forecast period. North America held the largest share of the global contraceptive market, accounting for 30.98% in 2023. The U.S. market alone was valued at USD 7.3 billion in 2024 and is anticipated to grow at a CAGR of 6.6% between 2025 and 2034. FemBloc is considered a disruptive advancement with broad global potential, especially as a non-surgical alternative to surgical sterilization.
FemaSeed (Infertility Treatment)
FemaSeed is an intratubal insemination solution designed as a first-step infertility treatment. The global infertility treatment market size was valued at USD 1.70 billion in 2024 and is projected to reach USD 3.65 billion by 2034, expanding at a CAGR of 7.9% from 2024 to 2034. Another report estimates the global infertility treatment market size at USD 1.7 billion in 2023, expected to reach USD 3.8 billion by 2033, with a CAGR of 8.6% from 2024 to 2033. The broader fertility treatment market size was valued at USD 34.63 billion in 2025 and is forecast to reach USD 49.02 billion by 2030, growing at a 7.21% CAGR. North America is the largest regional market for infertility treatment, capturing 38.62% of global revenue in 2024.
FemVue, FemCath, and FemChec (Fallopian Tube Assessment & Diagnostics)
FemVue is a diagnostic for fallopian tube assessment through ultrasound, while FemCath is a cornual balloon catheter for selective fallopian tube evaluation, and FemChec is a controlled contrast-generating device for fallopian tube diagnosis. These products fall under the broader market for hysteroscopy procedures and instruments, which are used for examining the interior of the uterus and fallopian tubes. The global hysteroscopy procedures market size was estimated at USD 13.90 billion in 2024 and is projected to reach USD 18.98 billion by 2030, growing at a CAGR of 5.21% from 2025 to 2030. North America accounted for 38.2% of the global hysteroscopy procedures market revenue share in 2024. The U.S. market alone for hysteroscopy procedures was valued at USD 1.70 billion in 2024, with forecasts indicating it will grow to USD 3.67 billion by 2034. The global hysteroscopy instruments market size was valued at USD 2.19 billion in 2024 and is expected to reach USD 3.96 billion by 2032, at a CAGR of 7.70%. North America is expected to dominate the hysteroscopy instruments market with a 44.12% share. These diagnostics also address conditions like abnormal uterine bleeding (AUB); the dysfunctional uterine bleeding market was valued at USD 2.8 billion in 2024 and is projected to reach USD 4.6 billion by 2034, registering a CAGR of 5.1%. North America holds the largest dysfunctional uterine bleeding market share, accounting for 38.2% of the global market in 2024.
FemCerv (Cervical Tissue Sampler)
FemCerv is an endocervical tissue sampler used for cervical cancer diagnosis. The global cervical cancer screening market size was valued at USD 2.6 billion in 2023 and is expected to reach USD 4.9 billion by 2033, growing at a CAGR of 6.5% from 2024 to 2033. North America dominated this market with the largest share in 2023. The cervical biopsy market, a component of cervical cancer diagnosis, was valued at USD 254.4 million in 2022 and is projected to reach USD 487.8 million by 2032, at a CAGR of 6.7%. North America is expected to hold a significant market share in the cervical biopsy market.
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Femasys (FEMY) is expected to drive future revenue growth over the next 2-3 years through several key initiatives in women's healthcare. These anticipated drivers include:
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Commercialization and Adoption of FemaSeed: Femasys is actively commercializing FemaSeed, a first-line infertility treatment, with reported increases in sales and strategic partnerships aimed at broadening access. The company has initiated U.S. commercialization, including collaborations with major fertility networks like Boston IVF, and has established international partnerships in Europe. The recent launch of the FemSperm™ Analysis Kit further enhances the FemaSeed product family, enabling in-office sperm preparation and analysis, which is expected to expand the reach and adoption of FemaSeed.
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Global Expansion and Regulatory Approvals for FemBloc: FemBloc, Femasys's non-surgical permanent birth control solution, is a significant growth driver. It has secured regulatory approvals in key international markets, including Europe, the United Kingdom, and New Zealand, with an initial European order already placed. The ongoing progress towards securing U.S. FDA approval for FemBloc, including advancing its final trial phase, represents a substantial future revenue opportunity.
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Growth of Existing Products: Alongside the newer offerings, Femasys's existing diagnostic products like FemVue® and FemCerv® are expected to continue contributing to revenue growth. FemVue, a companion diagnostic for fallopian tube assessment, has shown increased adoption and sales, often in conjunction with FemaSeed. FemCerv is another commercially available biopsy device.
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Strategic Partnerships and Market Penetration: Femasys is focused on expanding its market presence through strategic partnerships. Collaborations with fertility centers and distribution partners in various regions, such as Spain, are crucial for increasing customer reach and driving the adoption of its fertility and birth control portfolios. These partnerships are anticipated to generate substantial revenue over the coming years.
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Share Issuance
- Femasys announced a public offering in August 2025, pricing 10,434,586 shares of common stock, or pre-funded warrants, to raise approximately $8 million.
- The number of outstanding shares significantly increased from 9.11 million in 2020 to 28.88 million as of November 2025.
- Outstanding shares were 23,355,926 as of December 31, 2024, an increase from 21,657,381 shares as of December 31, 2023.
Inbound Investments
- Femasys secured $12 million in financing in early November 2025, with the potential to reach $58 million.
- The company raised approximately $5.4 million subsequent to December 31, 2024, through an at-the-market facility.
Capital Expenditures
- In the 12 months leading up to November 2025, Femasys reported capital expenditures of -$705,562.
- Proceeds from the August 2025 public offering are intended for various corporate purposes, including capital expenditures.
