MANSFIELD, Mass., July 11, 2024 (GLOBE NEWSWIRE) -- 3Daughters, Inc., a clinical development company fueling evolutionary healthcare for women, announced successful completion of an oversubscribed Seed financing round of $4.7M. This round included participation from existing investors Thairm Bio, Argosy Foundation, Wexford Science and Technology, LLC, UMass Amherst, and new undisclosed investors. Previously, the company had announced the close of the first tranche of this financing round, exceeding $2 million.
The additional investor participation underscores the growing significance and need for innovation in Women’s Health and particularly for contraception, a growing $8 billion dollar market in the U.S. Women use contraceptives on average for 30 years and improved options are needed.
Mary Beth Cicero, CEO of 3Daughters, commented, “We are thrilled by the overwhelming response from both our existing and new investors who share our determination and dedication to improving therapies for women, starting with our advanced IUD and integrated system for insertion and retrieval. Notably, this oversubscribed round supports our preclinical development through an IND filing in early 2025, a major milestone in our development timeline.”
Research indicates that over 275 million women worldwide use intrauterine devices (IUDs), with copper IUDs being the most popular choice for non-hormonal, long acting, and reversible contraception. 3Daughters’ lead asset (3D-001) is a frameless, non-hormonal, magnetic IUD that self-assembles when placed in the uterus and conforms to a woman’s body. 3D-001 is paired with a patented inserter and retriever designed as an integrated system to eliminate the three major pain points during the IUD insertion process. A recent Wall Street Journal article highlighted the well-known insertion pain that scares many women away from getting one of the most effective forms of birth control.
3Daughters has launched a Series A financing round of $15M to fund 3D-001’s first-in-human Phase 1 study expected to start following IND approval in 2025.
About 3Daughters™
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), this integrated system is expected to 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
