NEW YORK, June 21, 2021 /PRNewswire/ -- Chardan, a global investment bank, today announced that it acted as lead left bookrunner in the successful closing of the $34.45 million IPO of Femasys, Inc. (NASDAQ: FEMY) a biomedical company focused on transforming women's healthcare by developing novel solutions and next-generation advancements providing significant clinical impact to address severely underserved areas.

"We are delighted to work with the outstanding team at Femasys in support of their commitment to women's healthcare," said Matthew Mrozinski, a partner in the investment banking group at Chardan. "Chardan's goal as a bank is to identify and support companies that address areas of significant unmet need. Femasys' mission of transforming women's healthcare is a substantial market opportunity."

This transaction further solidifies Chardan's dedication to ESG and healthcare companies with novel and differentiated platforms. Since 2020, Chardan has acted as book runner or lead placement agent in 32 transactions including for healthcare companies: 4D Pharma plc (PIPE), Forge Biologics (Private offering) Forte Biosciences (FO), GenSight Biologics (PIPE), Immunome (IPO), Immunovant (FO), MeiraGTx (FO), NeuBase Therapeutics (FO), and Renovacor (announced PIPE).

Femasys is a woman-led company founded by Kathy Lee-Sepsick, President, CEO and Founder. Femasys will use the proceeds of their IPO to fund the completion of enrollment in the stage 2 clinical trial and commencement of the stage 3 clinical trial for the FemBloc system and for the initiation and completion of the pivotal trial for the FemaSeed system. The proceeds will also be used to fund product development and research and development activities, to hire additional personnel, and for working capital and general corporate purposes.

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