Daré Bioscience Announces Receipt of $1.5 Million Under the Current Grant Supplement Award for Continued Development of User-Controlled Long-Acting Reversible Contraceptive
Daré Bioscience, Inc. recently announced the receipt by its wholly owned subsidiary of $1.5 million in additional grant funding from the Bill & Melinda Gates Foundation. The grant supports ongoing development activities in 2020 for its user-controlled long-acting reversible contraceptive program, referred to as DARE-LARC1. DARE-LARC1 has been developed with the support from the foundation in the form of approximately $18 million in grant funding prior to this most recent disbursement. The remaining $1 million in funding under the grant from the foundation may be awarded before the end of 2020 in further support of DARE-LARC1 development activities.
The technology underlying DARE-LARC1 is designed to enable drug storage and precise delivery of therapeutic doses over months or years through a single implant and was originally developed at the Massachusetts Institute of Technology (MIT) by renowned researchers Robert Langer, PhD, and Michael J. Cima, PhD.
“We are honored to continue to receive this non-dilutive funding support from the foundation for the ongoing development of DARE-LARC1,” said Sabrina Martucci Johnson, President & CEO of Daré Bioscience. “The timing of this payment coincides with important preclinical activities planned for the second half of this year.”
DARE-LARC1 is a preclinical-stage implantable, long-acting, reversible investigational contraceptive designed to deliver the benefits of traditional long-acting, reversible contraceptive products with the added flexibility of wirelessly controlling drug release based on individual needs. The implant is intended to be operated by the woman to deliver contraceptive medication automatically on a pre-set schedule after initiation or on a dosing schedule entirely controlled by the woman and, in any case, that can be activated or deactivated wirelessly as desired.
Daré Bioscience is a clinical-stage biopharmaceutical company committed to the advancement of innovative products for women’s health. The company’s mission is to identify, develop, and bring to market a diverse portfolio of differentiated therapies that expand treatment options, improve outcomes and facilitate convenience for women, primarily in the areas of contraception, vaginal health, sexual health, and fertility.
Daré’s product portfolio includes potential first-in-category candidates in clinical development: Ovaprene, a hormone-free, monthly contraceptive intravaginal ring whose US commercial rights are under a license agreement with Bayer; Sildenafil Cream, 3.6%, a novel cream formulation of sildenafil to treat female sexual arousal disorder utilizing the active ingredient in Viagra; DARE-BV1, a unique hydrogel formulation of clindamycin phosphate 2% to treat bacterial vaginosis via a single application; and DARE-HRT1, a combination bio-identical estradiol and progesterone intravaginal ring for hormone replacement therapy following menopause. To learn more about Daré’s full portfolio of women’s health product candidates, and mission to deliver differentiated therapies for women, visit www.darebioscience.com.
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