Femasys Inc. Announces Existing Board Member Charles Larsen as Chairperson of the Board

ATLANTA, July 06, 2022 (GLOBE NEWSWIRE) -- Femasys Inc. (NASDAQ: FEMY), a biomedical company aiming to meet women's needs worldwide by developing a suite of product candidates that include minimally invasive, in-office technologies for reproductive health, today announced that Charles Larsen, a current member of Femasys’ Board of Directors, has been appointed to the role of non-executive Chair, replacing founder, president and chief executive officer, Kathy Lee-Sepsick. Mr. Larsen has served as a member of Femasys’ board of directors since October 2015.

Ms. Kathy Lee-Sepsick founder, president and chief executive officer of Femasys, commented, “Charlie’s extensive experience in the medical device industry, executive leadership and experience in strategic transformations, along with his public board experience will provide important insight as we plan to make our novel biomedical solutions available to women worldwide, in support of our mission to change women’s health.”

Mr. Larsen, chairperson of Femasys’ board of directors added, “I have spent the entirety of the past 40 years of my career developing medical technologies to address areas of unmet need and improve patient outcomes and I am excited for this opportunity to serve as Chair of the Board. I look forward to working with Kathy Lee-Sepsick, the board and the broader team to continue the development of its lead product candidates, FemaSeed and FemBloc, and preparations for the commercial launch of FemCerv.”

Mr. Larsen co-founded Novoste Corporation in 1992 and The Innovation Factory in 1999, and, through his role at The Innovation Factory, he co-founded additional companies including medical device companies such as Acufocus, Inc., AqueSys Inc., Halscion, Inc., Neuronetics, Inc. and Sebacia, Inc. He holds over 30 issued U.S. and international patents on medical devices. Before joining Novoste, Mr. Larsen held positions with Novoste Puerto Rico, Cordis Corporation, Key Pharmaceuticals and Parke-Davis/Warner Lambert in executive, senior engineering, and project management roles. Mr. Larsen also served on the Board of Directors of Acufocus, CardioFocus, Inogen Inc, Intuity Medical Inc., Novoste Inc. and Torax Medical, Inc. Mr. Larsen holds a BS in Mechanical Engineering from the New Jersey Institute of Technology.

About Femasys

Femasys Inc. is a biomedical company aiming to meet women's needs worldwide by developing a suite of product candidates that include minimally invasive, in-office technologies for reproductive health. Its two lead product candidates are FemBloc^® permanent birth control and FemaSeed^® localized directional insemination for infertility. The Company’s product for fallopian tube assessment by ultrasound, FemVue^®, is currently marketed in the United States. Femasys is also advancing FemCath^™, an intrauterine catheter for selective evaluation of the fallopian tubes and FemCerv^®, an endocervical tissue sampler that is the first product of the technology platform for tissue sampling intended to be marketed alongside its other women-specific medical products in the physician’s office setting.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “pending,” “intend,” “believe,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on our current expectations and are subject to inherent uncertainties, risks and assumptions, many of which are beyond our control, difficult to predict and could cause actual results to differ materially from what we expect. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ include, among others: our ability to develop and advance our current product candidates and programs into, and successfully initiate, enroll and complete, clinical trials; the ability of our clinical trials to demonstrate safety and effectiveness of our product candidates and other positive results; estimates regarding the total addressable market for our product candidates; our business model and strategic plans for our products, technologies and business, including our implementation thereof; and those other risks and uncertainties described in the section titled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021 and our Form 10-Q for the quarter ended March 31, 2022 with the Securities and Exchange Commission (the “SEC”), and other reports as filed with the SEC. Forward-looking statements contained in this press release are made as of this date, and Femasys undertakes no duty to update such information except as required under applicable law.

Contacts:

Investors
Chuck Padala
LifeSci Advisors, LLC
+1-917-741-7792
chuck@lifesciadvisors.com

Media
Karissa Cross, Ph.D.
LifeSci Communications
kcross@lifescicomms.com

Femasys Inc.

Investor Contact:
IR@femasys.com

Media Contact:
Media@femasys.com