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Exhibit 99.1 Femasys Inc. Announces Financial Results for the Second Quarter of 2021 Completed initial public offering ( " IPO " ) raising net proceeds of $ 31.6 million Appointed Anne Morrissey to the Board of Directors , an industry expert with decades of medical device experience Initiated 792 - patient , pivotal LOCAL trial after receipt of investigational device exemption ( IDE ) submission approval for FemaSeed ™ Atlanta , GA . August 11 , 2021 --- Femasys Inc. ( NASDAQ : FEMY ) , a biomedical company developing a suite of product candidates to transform women's healthcare with minimally invasive , non - surgical , in - office technologies , today announced financial results for the second quarter and six months ended June 30 , 2021 . " This is an exciting time of growth for Femasys after becoming a publicly traded company on June 18th , " stated Kathy Lee - Sepsick , president , chief executive officer and founder of Femasys . " We are galvanizing on all fronts to advance FemaSeed ™ , our localized directional insemination product candidate that is part of our fertility portfolio , through clinical development and are thrilled to have treated the first patient in our prospective , multi - center pivotal LOCAL trial in July . " Ms. Lee - Sepsick , further commented , " We are continuing our clinical work with FemBloc® , our permanent birth control product candidate , in preparation for an IDE submission for a pivotal trial planned for next year . Both reproductive products may provide women access to superior technologies and increase their options related to reproductive care . We remain enthusiastic and poised to address the vast underserved markets within women's health worldwide with our next- generation medical solutions . " Recent Corporate Developments On June 17 , 2021 , Femasys announced the pricing of its initial public offering of 2,650,000 shares of its common stock at a public price of $ 13.00 per share . The net proceeds to Femasys from the offering , after deducting the underwriting discounts and commissions and legal expenses , totaled $ 31,613,500 . Shares began trading on the Nasdaq Capital Market on June 18 , 2021 , under the ticker symbol “ FEMY ” . The offering closed on June 22 , 2021 . On June 24 , 2021 , Femasys announced the appointment of Anne Morrissey to the company's board of directors . Ms. Morrissey brings decades of experience to Femasys . Most recently , Anne served as President and Chief Executive Officer of Alydia Health from 2016 to 2020 , and thereafter as an advisor until it was acquired by Merck in March 2021. She holds several patents on medical devices and advises medical device companies , including Raydiant Oximetry .