Daré Bioscience Announces Grant Funding Installment To Support Further Development Of Novel Contraceptive Technology DARE-LARC1; Daré May Receive A Total Of Up To Approximately $49 Million To Support Nonclinical Development Of DARE-LARC1
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Daré Bioscience, Inc. (NASDAQ:DARE) will receive a payment of approximately $4.5 million as the latest installment under a grant agreement to advance the development of its investigational contraceptive DARE-LARC1. The total grant could reach up to $49 million. Daré received an initial $11.5 million payment in 2021 and aggregate payments of approximately $12.4 million in 2022. The company is also advancing the late-stage development of Ovaprene, a hormone-free monthly intravaginal contraceptive. Daré has a license agreement with Bayer for the development and commercialization of Ovaprene in the United States, if approved by the FDA.
September 21, 2023 | 12:06 pm
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Daré Bioscience is set to receive a $4.5 million grant installment to support the development of its contraceptive DARE-LARC1. The total grant could reach up to $49 million. The company is also advancing the late-stage development of another contraceptive, Ovaprene, in collaboration with Bayer.
The news of the grant installment and the potential total grant amount of $49 million is positive for Daré Bioscience as it provides financial support for the development of its contraceptive DARE-LARC1. Additionally, the advancement of the late-stage development of Ovaprene, in collaboration with Bayer, could potentially lead to a new product launch and revenue generation in the future.
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