This payment represents the next tranche under the up to approximately $10.7 million grant agreement originally announced in November 2024 and reflects Daré's continued achievement of key development and reporting milestones.
"We appreciate the Gates Foundation's continued support in our work and its strong commitment to expanding non-hormonal contraceptive options for women," said Sabrina Martucci Johnson, President and CEO of Daré Bioscience. "This additional funding will enable us to continue advancing potential first-of-its-kind intravaginal method that aligns with women's unmet needs and preferences, particularly in LMIC settings where non-hormonal, user-controlled methods can have a profound public health impact."
This tranche will support activities related to product design, formulation, acceptability, and early-stage development work that will inform subsequent clinical development. In parallel, the initial tranche received in 2024 continues to support enrollment at clinical trial sites for Ovaprene®, Daré's investigational, hormone-free monthly intravaginal contraceptive currently in its pivotal Phase 3 study (ClinicalTrials.gov ID: NCT06127199).
"We believe a novel non-hormonal intravaginal contraceptive could fill a critical gap in today's contraceptive landscape," said Liz Proos, VP of Product Development at Daré Bioscience. "Our goal is to develop methods that meet women where they are and reflect their preferences for autonomy and ease of use. Continued support from the foundation accelerates our ability to advance this important innovation."
Daré received an initial payment under the grant agreement of approximately $5.4 million in 2024. Future payments are contingent on Daré's achievement of additional milestones specified in the grant agreement.
About Daré Bioscience
Daré Bioscience is a purpose-driven health biotech company solely focused on closing the gap in women's health between promising science and real-world solutions. Every innovation Daré advances is based in advanced science and backed by rigorous, peer-reviewed research. From contraception to menopause, pelvic pain to fertility, vaginal health to infectious disease, Daré is working to close critical gaps in care using science that serves her needs.
For decades, women have been told to "wait it out" or "live with it," while innovations that could improve their quality of life languish in the regulatory or funding pipeline. With growing awareness around menopause, sexual health, and vaginal health, the conversation is shifting. However, access to real, evidence-based solutions continues to lag. Daré was founded to change that. As a female-led health biotech company, Daré is accelerating the development of credible, science-based solutions that meet the high standards of clinical rigor, randomized, controlled trials; validated endpoints; peer-reviewed publications; and current Good Manufacturing Practice (cGMP) requirements.
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