eha Impact Ventures Backs Ananya Health’s Innovative Medical Device with $150,000 Investment

Abuja, Nigeria — April 25, 2024

eha Impact Ventures (EIV) is excited to announce an additional investment of $150,000 in Ananya Health, one of its portfolio companies pioneering medical technology advancements across Africa. 

Ananya Health is developing a battery-powered cryoablation device to freeze abnormal cervical cells before they become cancerous. Traditional cryoablation procedures are expensive, require specialised doctors, and pose logistical challenges, making this needed and preventative technology inaccessible. Ananya Health’s cutting-edge device eliminates these barriers by making it portable, affordable, and accessible at primary healthcare centres. 

EIV’s newest $150,000 investment, structured as a Simple Agreement for Future Equity (SAFE), brings its total investment to $175,000. This funding supports Ananya Health towards securing a National Institutes of Health (NIH) grant and pursuing its long-term goal of obtaining U.S. Food and Drug Administration (FDA) 510(k) clearance. This clearance ensures the safety and efficacy of their medical device, allowing it to be marketed in the United States.

Evelyn Castle, CEO and Co-founder of EIV stated, “We are proud of Ananya Health’s progress in 2023 and 2024. Its key milestones include designing a battery-operated cooling system that can consistently reach -40 degrees Celsius and establishing partnerships with clinical organisations, advocacy groups, and screening companies to support device adoption in target regions like Kenya, Nigeria, and India. We believe this device will be a game-changer in preventing cervical cancer and are proud to be an early investor and supporter.”  

In recognition of EIV’s commitment to Ananya Health, Evelyn Castle has joined the Board of Directors as a Board Observer to provide strategic guidance and support to Ananya Health’s leadership team in navigating the subsequent phases of development.

Expressing her appreciation, Anu Parvatiyar, CEO of Ananya Health, stated, “Ananya Health is thrilled to have eha Impact Ventures as an investor. Their deep strategic and operational experience in African health systems is invaluable as we progress towards final product development. They have a uniquely comprehensive understanding of patients, clinicians, and policy that will be a huge asset as we move toward commercial launch and beyond.”

eha Impact Ventures’ investment reflects a shared vision for a future where accessible and affordable medical solutions can improve global health. Ananya Health’s innovative approaches can transform cervical cancer prevention, and with EIV’s continued support, the journey toward widespread adoption is poised for success.

 
About eha Impact Ventures

eha Impact Ventures (EIV) is a philanthropic impact investing enterprise that supports early-stage, high-impact, women-led businesses in Africa. Unlike traditional business financing, EIV offers flexible, innovative financing and high-quality, local, shared resources to ensure business growth and success. Learn more at eha Impact Ventures.

Media Contact: Sumayyah Ibrahim | Email: sumayyah.ibrahim@eha.ventures

Investor Contact: Evelyn Castle | Email: evelyn@eha.ventures

 

About Ananya Health:

Ananya Health is a seed-stage medical technology company developing a device for the global fight against cancer. The device uses battery-powered cryoablation, eliminating the need for cryogen gas to freeze abnormal cells and prevent them from developing into cancer. This innovative approach aims to revolutionise cancer prevention at the grassroots level of healthcare.

 

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