Contraline, a Charlottesville, Virginia-based biotech company producing a long-lasting, contraception for men, raised $7.2M in funding.
The round was led by GV with support from Rhia Ventures, ShangBay Capital, Amboy Street Ventures, MBX Capital, Graphene Ventures, and Metaplanet Holdings.
The company intends to use the funds to advance in-human clinical trials.
Led by Kevin Eisenfrats, Co-Founder and CEO, Contraline is developing an injectable hydrogel designed to provide long-lasting, non-permanent contraception for men. ADAM, non-hormonal, and non-permanent, is designed to occlude sperm flow through the vas deferens for a predefined period of time, eventually degrading and thus offering a non-permanent contraceptive option, in contrast to vasectomy, which is considered permanent.
Four men were implanted with ADAM at Epworth Freemasons Hospital in Melbourne, Australia, led by principal investigator Nathan Lawrentschuk, Professor of Urology at Royal Melbourne Hospital and Epworth Hospital, and co-investigator Paul Anderson. The procedures were performed using a minimally invasive, no-scalpel approach, with ADAM being injected using a patent-pending delivery device.
Contraline is continuing the study in Australia with the eventual goal of opening a second study with a larger group of patients in the United States.
FinSMEs
10/11/2022