In 2003, I played a pivotal role in launching a trailblazing venture that became the first in the U.S. to empower women to take control of their fertility journey.
While pursuing my MBA at Harvard Business School, I co-developed a business plan for a groundbreaking egg-freezing technology. This innovation wasn’t just a medical advancement; it was a beacon of hope for women who feared losing their chance at motherhood. Our vision won the Harvard Business School business plan contest, marking the inception of Extend Fertility. I was only 24 and very few of the women I knew realized that cancer treatments like chemotherapy, which many of us will undergo in our lives, irremediably affect fertility. I realized the profound impact of our work on these many women who would face fertility challenges. Our technology offered a lifeline, preserving their dream of motherhood.
Achievements and Recognition
Our concept resonated far and wide, winning the Dubilier prize at the Harvard Business School contest, securing second place in the Fortune Small Business competition, and reaching the finals in the Global Startup@Singapore contest. These accolades were a testament to our innovative approach in a field ripe for change.
Creating a Paradigm Shift
For years, sperm and embryos had been successfully preserved, but egg-freezing faced significant hurdles with success rates hovering around 1-3% globally. Extend Fertility emerged at a pivotal moment. As techniques improved, promising success rates of 20-40%, akin to natural fertility rates, we saw a chance to revolutionize the market. By seizing this opportunity, Extend Fertility became a forerunner in the U.S., focusing exclusively on proactive fertility preservation. By 2015, the U.S. witnessed 47,000 egg-freezing procedures, generating around $500M in revenue and contributing to a significant segment of the $3-4 billion U.S. fertility market. To date, around 5,000 babies have been born from these frozen eggs.
The Science Behind the Success
Egg-freezing involves extracting, freezing, and storing a woman’s eggs. When she’s ready for pregnancy, these eggs can be thawed, fertilized, and implanted. The process starts with hormone injections to stimulate the production of multiple eggs. The retrieval, a 15-minute procedure involving a needle and no incisions, is done under sedation. Remarkably, the longest successful thaw of an egg leading to a birth was after 14 years, underscoring the technology’s incredible potential.
Through Extend Fertility, we didn’t just create a service; we empowered women to take charge of their reproductive health and opened a new chapter in fertility science!