Daré Bioscience Receive Additional $1.5M Funding Installment Under Grant Agreement For DARE-LARC1

With this installment, Daré Bioscience has received a total of approximately $43.3 million in non-dilutive funding under the grant agreement. The remaining approximately $5.6 million of the up to approximately $48.9 million commitment is tied to the future achievement of development and other milestones specified in the grant agreement. The funding will support continued preclinical development of DARE-LARC1, including nonclinical studies, activities intended to support an Investigational New Drug (IND) application, and other program-related work.

Extending the DARE-IDDS Platform Beyond Contraception

Daré Bioscience believes the DARE-IDDS platform may have potential beyond women's health, including with GLP-1 analogs, anti-obesity medications, hormone therapies for areas such as diabetes, breast cancer, and infertility, and neurologic disease treatments such as for Parkinson’s disease, where long-term dosing and treatment burden are central challenges. Many current therapies in these areas rely on frequent injections or daily dosing, and maintaining adherence over months and years can be difficult for patients. A device designed to enable programming not only how much drug is released, but when, could offer an alternative approach. Daré Bioscience is exploring strategic collaborations with companies developing therapies in these areas to evaluate the DARE-IDDS platform in additional indications.

Advancing Long-Acting Contraception

DARE-LARC1 is being developed as a long-acting contraceptive that uses a programmable implantable device (DARE-IDDS) to deliver levonorgestrel over an extended period. By combining an active pharmaceutical ingredient found in several types of contraceptive products with a device designed to control the timing and duration of drug release, the DARE-LARC1 program aims to offer an alternative approach to contraception that would not require daily administration.

Looking Ahead

Daré Bioscience expects to continue advancing DARE-LARC1 through nonclinical development and activities intended to support a future IND submission. Under the grant agreement, Daré Bioscience’s receipt of additional funding is contingent on achieving specified development milestones and other requirements. The Company is also exploring potential collaborations to evaluate the application of DARE-IDDS in additional therapeutic areas.

DARE-IDDS is an investigational device in preclinical development. It has not been approved or cleared for clinical investigation in humans or for any use in humans. The DARE-IDDS features described in this press release are based on the results of technological proof-of-concept studies.