Image Credit: MicroCHIPS, Inc.
Daré Bioscience is a female-health-focused biotech company conducting end-to-end clinical development in ob-gyn. They are developing the “DARE-LARC1” smart implant, a programmable drug delivery system for long-acting reversible contraception (LARC) and other long-term therapeutic uses like diabetes and obesity. This implant uses programmable micro-reservoirs to deliver precise doses for months to years from a single device, features wireless control with smartphone integration, can have its software updated remotely, and is powered by a battery designed to last up to 20 years. According to the company:
“DARE-LARC1 is a preclinical-stage investigational, long-acting reversible contraceptive (LARC) utilizing a next-generation programmable drug delivery device to administer levonorgestrel, the active pharmaceutical ingredient in a number of FDA-approved birth control methods, for an extended period without requiring day-to-day effort.”
Daré announced that it had received a $4.0 million non-dilutive funding installment under its multi-year grant agreement to support development of DARE-LARC1. This brings the total received to approximately $41.8 million of the up to approximately $49 million in committed grant funding for nonclinical development, IND-enabling studies, and preparation for submission of an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA).