$1.55M Raised for Plan A™ Male Birth Control Product, Seeking Clinical Trials in 2023
ORIGINALLY POSTED ON YAHOO! FINANCE
After years in development by the Parsemus Foundation, NEXT Life Sciences, Inc. has announced its plans to bring a new contraceptive product to market through Plan A™ – a safe, effective, reversible birth control for men.
"In developing Plan A™, NEXT has seen increasing demand for male contraception and a growing interest among investors that see male contraception as an untapped field, ripe for innovation," said L.R. Fox, CEO of NEXT Life Sciences, Inc. "Our goal for Plan A™ is to become men's first choice for family planning. Reaching that goal starts with bringing on the right investors who are interested in entering the male contraceptive market on the ground floor."
Plan A™ utilizes Vasalgel®, a proprietary hydrogel acquired by NEXT. The Plan A™ procedure is similar to that of a no-scalpel vasectomy – except instead of permanently cutting the vas deferens, the hydrogel acts as a flexible filter to block the flow of sperm, preventing pregnancy. Preclinical studies demonstrated rapid restoration of sperm flow after Vasalgel® was dissolved and flushed from the vas deferens.
With the goal to initiate clinical trials by the end of 2023, NEXT has brought together leading family planning experts to join their Medical Advisory Board, including Dr. Charles Carignan, an experienced CEO and former CMO of Boston Scientific, with extensive contraceptive development experience with Conceptus, WHO, FDA, and USAID. "Men want a reliable, reversible, non-hormonal birth control that's easy to use," said Dr. Carignan. "Plan A™ has the promise of revolutionizing birth control – and NEXT is ready to make that promise a reality."
NEXT just initiated a venture-backed priced equity round to support the development and commercialization of Plan A™. This comes following a successful, oversubscribed $1.55M seed round this year.
NEXT Life Sciences, Inc. (NEXT) is a medical device company striving to transform lives through Plan A™, a safe, effective, and reversible contraceptive solution for men. NEXT's leadership has a proven track record across early-stage research, development, and commercialization with successful medical device and contraceptive companies.
Disclaimer
Forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them. Statements within this document have not been evaluated by the Food and Drug Administration. Products have not been approved to diagnose, treat, cure, or prevent any disease.