Dare Bioscience receives $6M non-dilutive grant installment

Dare Bioscience (DARE) announced the receipt of a $6M non-dilutive funding installment under its multi-year grant agreement to support development of DARE-LARC1, the contraception-focused use case of Dare’s intelligent drug delivery system platform. This brings the total received to approximately $37.8M of up to approximately $49M in committed grant funding for nonclinical development, IND-enabling studies, and preparation for submission of an Investigational New Drug application with the U.S. Food and Drug Administration. DARE-LARC1 is a preclinical-stage investigational, long-acting reversible contraceptive 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. The underlying DARE-IDDS platform has broader potential across multibillion-dollar markets, including obesity, diabetes, and other chronic conditions that require precise, programmable, and/or long-term dosing. Dare is currently exploring strategic partnering discussions to expand evaluation of the platform’s use beyond reproductive health.