Nova Scotia medtech startup Elle, MD Technologies has raised C$1.1 million in an oversubscribed pre-seed financing round to support the first human clinical trial of its non-hormonal contraceptive device.

The New Minas-based company said the funding will allow it to begin its First-in-Human clinical trial of Livv at The Ottawa Hospital.

Livv is a non-hormonal vaginal contraceptive ring designed to provide birth control without the hormones used in many existing contraceptives. The company says the device is intended to reduce the side effects and trade-offs associated with common birth control methods, including oral contraceptives and intrauterine devices, or IUDs.

In a LinkedIn post announcing the financing, founder and CEO Dr. Jennifer Johnston thanked investors, advisors and the company's staff for supporting the business as it reaches the clinical testing stage.

“This funding takes us to a milestone we've been working toward for a long time, our First-in-Human clinical trial at The Ottawa Hospital,” she said.

The financing round included investments from H Venture Partners, Invest Nova Scotia, the New Brunswick Innovation Foundation (NBIF), CBDC Hants-Kings, Queen's University Tricolour Venture Fund, Spring Invest Together and Startup TNT. Physician Robin LeBlanc also participated in the round.

Johnston founded Elle, MD in 2022. She is a family physician and an assistant professor at Dalhousie University School of Medicine.

The funding builds on earlier support the company has received from Atlantic Canadian innovation agencies. Last October, Invest Nova Scotia invested $100,000 in the company, matching a previous $100,000 investment from NBIF.

Elle, MD has also gained national recognition. Earlier this year, it was selected as a winner in the Emerging Category of the CIX Startup Awards, Canada's largest showcase of innovative technology companies. The awards recognize early-stage and growth-stage startups selected by a panel of North American investors.

The latest financing is expected to fund the company's next stage of development as it moves from product development into human clinical testing, a key regulatory milestone for medical technologies. Success in the Ottawa trial would provide data on the safety and performance of the Livv device as Elle, MD continues the process of bringing the product to market.