MANSFIELD, Mass., April 19, 2024 (GLOBE NEWSWIRE) -- 3Daughters, Inc., a clinical development company fueling evolutionary healthcare for women, was voted the “Startup of Year” by top life science investors and venture capitalists at the 2024 BioLabs Investor Day that took place in Philadelphia on April 16, 2024.
BioLabs Investor Day events are carefully curated, invite-only pitch events where top startups are connected directly with major investors from across the eastern seaboard. Out of 78 applications submitted, 3Daughters was one of 15 companies selected to pitch at the event. Following a competitive pitch process, participating investors anonymously selected 3Daughters as the “Startup of The Year” for 2024.
3Daughters is addressing the needs of women who use birth control on average for 30 years of their lives with a novel, frameless, and sophisticated non-hormonal intrauterine device (IUD) for long-acting contraception. The innovation behind 3D-001, 3Daughters’ lead asset, is a marked departure from the current plastic T-shaped framed IUD, which is widely known to cause significant insertion pain. With 3D-001 and the Company’s patented Slider™ for insertion and retrieval, 3Daughters will eliminate the most painful steps for IUD insertion, which prevent women from getting one of the most effective forms of birth control.
“It’s a privilege and honor for 3Daughters to be recognized as the ‘Startup of the Year’ by BioLabs and investors in the life science community. Selected from the great group of emerging companies that presented, this award stands out as an endorsement for Women’s Health and the need for innovation in the space. This recognition further fuels our commitment to bring our game-changing IUD into clinic next year,” commented Mary Beth Cicero, CEO of 3Daughters.
3Daughters is launching a Series A financing round of $15M that will fund 3D-001’s Phase 1 study that will provide critical data relating to pain and ease of insertion. With copper as the active ingredient and proven spermicide, the regulatory pathway has been confirmed as a 505(b)(2) relying on the FDA’s findings of safety and efficacy. As a non-hormonal contraceptive option, 3Daughters will be addressing the needs of women who are looking for a highly effective and long-term contraceptive without exposure to hormones that addresses the insertion pain, and without the strings T-shaped IUD’s need for removal.
“Thank you to BioLabs and the sponsors of this event for the chance to tell the 3Daughters story. We are well aware of pain women endure when they opt for the current IUD’s on the market. The attention from awards like the BioLabs Investor Day will help to heighten investor interest in supporting our clinical program and others to foster a better future for women’s health products – a sector poised to exceed $30 billion by the end of the decade,” concluded Mary Beth Cicero, CEO of 3Daughters.
The award from BioLabs totaling over $20,000 includes cash, credits, resources, and services across various operational aspects that are essential to success of an emerging life science company.
About BioLabs
Biolabs' mission is to empower entrepreneurs and drive life science innovation worldwide. BioLabs’ comprehensive innovation support platform provides entrepreneurs access to premium, fully-equipped co-working lab and office facilities, extensive educational programming, a supportive community and connections to a global network of fellow entrepreneurs, collaborators, and capital partners. Currently operating in 15 locations across the US, Europe and Japan, BioLabs accelerates the pace of innovation commercialization by enabling entrepreneurs to focus on science, not operations. This is the 8th Investor Day held by BioLabs worldwide, and the second annual Investor Day at the Philadelphia location.
About 3DaughtersTM
3Daughters is a clinical development company focused on evolutionary healthcare for women where cutting-edge research and innovation is desperately needed. The Company’s technology platform is based on physics and geometry to deliver targeted therapy to the uterus. The first product, (3D-001), is a frameless, magnetic, non-hormonal intrauterine device (IUD) for long-acting contraception that conforms to a woman’s body. Combined with our unique, patented Slider™ system (for insertion and retrieval), we will eliminate the most painful steps in the insertion process as well as the nuisance factor of strings (needed for removal). 3Daughters’ vision is to solve health issues for women, particularly significant, and neglected, problems. 3Daughters plans to radically disrupt the IUD market by addressing the major adoption barrier — insertion pain. This pain is associated with all current rigid, plastic T-shape framed IUDs on the market and prevents women from selecting one of the most effective forms of birth control. Visit 3daughtershealth.com for more information.
Contact:
Louis Scotti
Senior Vice President, Business Operations & Corporate Development
lscotti@3daughtershealth.com
