Alydia Health has raised fresh funds to support the US commercial launch of the suction device for the treatment of postpartum haemorrhage (PPH).

Called Jada System, the device stops postpartum haemorrhaging within a few minutes.

The company recently completed the pivotal PEARLE IDE Study of the system and is currently awaiting the market clearance from the US Food and Drug Administration (FDA).

The $13.9m Series C financing round was led by AXA Investment Managers through the Impact Investing Strategy.

The company’s existing investors, including Global Health Investment Fund and Avestria Ventures, also participated in the round.

AXA Investment Managers Impact Investing head Jonathan Dean said: “Alydia Health’s device for postpartum haemorrhage has tremendous potential to improve outcomes for mothers and families around the world.

“We are proud to invest in some of the most innovative technologies that address major public health issues worldwide while generating attractive social and financial returns. Alydia’s technology addresses both of these measures and we look forward to supporting the company through the upcoming launch of the Jada System.”

The company also appointed Robert Binney as the new CEO. He previously worked as a chief commercial officer for Intersect ENT.

Binney said: “Alydia is poised to successfully address a serious condition that contributes significantly to maternal mortality in the US and around the world, and I could not be more excited to join this team during this critical time in the company’s evolution.

“I believe in the potential of this unique technology to fill a growing clinical need in postpartum care and I look forward to leading the company through its next phase of commercialisation.”

Founded in 2010, Alydia focuses on developing medical devices to treat maternal morbidity and mortality, resulting from PPH and abnormal postpartum uterine bleeding.