NEW YORK, June 21, 2021 /PRNewswire/ — The Global Health Investment Fund (GHIF) is pleased to announce the successful exit from its investment in Alydia Health, following the completion of a previously announced acquisition of Alydia by Organon, a spinoff of Merck. GHIF, which led the Series B financing for Alydia Health in September 2018, achieved a 5x return on behalf of its investors. Alydia is the eighth company from GHIF’s 12-company portfolio to generate realized returns for investors.
Founded in 2010, Alydia Health is a commercial-stage medical device company focused on preventing maternal morbidity and mortality caused by postpartum hemorrhage (PPH) or abnormal postpartum uterine bleeding. Alydia Health’s device, the Jada System, is designed to encourage normal contraction of the uterus to stop excessive bleeding after childbirth.
The Series B funding round by GHIF supported and financed Alydia Health’s pivotal PEARLE Study. The Series C funding, led by AXA Investment Managers with support from GHIF, culminated in the U.S. Food and Drug Administration (FDA) granting 510(k) clearance to the Jada System in September 2020.
“We’re thrilled by this major milestone that the Alydia team has achieved on its path to commercializing the Jada System globally. We’re proud of Alydia’s achievements and are confident that the lives of mothers and families worldwide will be improved through Organon’s global reach,” said Curt LaBelle, MD, Managing Partner of the Global Health Investment Fund and Board Chair for Alydia Health.
“We’re grateful to have received ongoing and thoughtful support from Curt and GHIF as we’ve taken the Jada System from the research stage to commercialization,” added Rob Binney, chief executive officer, Alydia Health. “As we look to improve the safety of childbirth and improve the standards of maternal care, we believe this acquisition is the next step in our goal to broadly deliver our innovative product to those in need.”
About Global Health Investment Fund
GHIF is a social impact investment fund structured by JPMorgan Chase & Co. and the Bill & Melinda Gates Foundation. With an emphasis on late-stage projects, GHIF finances the development of drugs, vaccines, devices, and diagnostics for diseases that disproportionately burden low-income populations. Key global health challenges targeted by the fund include malaria, tuberculosis, HIV/AIDS, cholera, and preventable causes of maternal and infant mortality, in addition to other neglected infectious diseases. GHIF’s definition of success requires meaningful improvements in the lives of those afflicted by these challenges, and the fund forecasts and measures its progress against this objective alongside traditional financial return benchmarks. For additional information about GHIF, please visit ghif.com.
About Alydia Health
Founded in 2010 with a vision to make childbirth safer for all mothers, Alydia Health is a commercial-stage medical device company focused on preventing maternal morbidity and mortality caused by postpartum hemorrhage (PPH) or abnormal postpartum uterine bleeding – a challenging condition to manage and a growing problem in the U.S. and globally.
Alydia’s device, the Jada® System, is designed to encourage normal contraction of the uterus to stop excessive bleeding after childbirth. Alydia received 510(k) clearance (marketing authorization) from the FDA for the Jada® System in August 2020 based on results from the company’s pivotal PEARLE IDE Study.
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Dukas Linden Public Relations
SOURCE Global Health Investment Fund