MAPLE GROVE, Minn., Jan. 28, 2019 /PRNewswire/ -- Morari Medical announced that the company was selected as the winner of the inaugural P&G Ventures Innovation Challenge during the recent CES 2019 Meeting in Las Vegas. By winning, Morari Medical was awarded $10,000 from P&G Ventures, has qualified as a finalist in a Techstars® accelerator and will be provided complimentary attendance to the EY Strategic Growth Forum®.
P&G Ventures is the startup studio within P&G that is partnering with entrepreneurs, visionaries and startups to create business and brands in categories new to P&G.
Morari Medical is developing a device-based treatment for premature ejaculation (PE). PE is the most prevalent male sexual dysfunction, estimated to affect up to 30% of men worldwide. With a higher incidence than erectile dysfunction or an enlarged prostate, PE represents a large global market opportunity.
"Great ideas can come from anywhere. At P&G Ventures, we are looking to take the best of entrepreneurs and the best of P&G to solve some of our consumers' biggest problems," said Leigh Radford, Vice President and General Manager of P&G Ventures. "We had a great response to our first ever Innovation Challenge. The solid business model, proposed technology solution and team at Morari Medical were factors that led to selecting Morari Medical as the winner of the Innovation Challenge."
"Premature ejaculation is a true medical condition that impacts millions of men worldwide. At Morari, we believe that a device-based solution could restore confidence in sexual health for those impacted by premature ejaculation," said Jeff Bennett, CEO and Founder of Morari. "We appreciate P&G Ventures providing a forum to discuss male health issues and are honored to have received the inaugural P&G Ventures Innovation Challenge award."
About Morari Medical
Morari Medical is an early stage medical device company that is developing the first external device for the treatment of premature ejaculation. Grounded in basic science and clinical study research, the Morari product concept is intended to be a transdermal based product using neuromodulation as a means of inhibiting the nerves of the penis, thereby delaying an ejaculation. Please visit www.morarimedical.com to learn more about Morari Medical and connect on Twitter and Facebook.
SOURCE Morari Medical