AXIOS | NEXT Life Sciences Eyes $20M for Male Birth Control
ORIGINALLY POSTED ON: AXIOS
NEXT Life Sciences is raising $20 million to develop male contraceptive product Plan A, CEO Darlene Walley tells Axios exclusively.
Why it matters: Male birth control options such as condoms and vasectomies haven't changed since the age of disco.
The latest: Calif.-based NEXT is courting investors for the Series A.
The launch follows a $2.5 million raise last January and includes a $200,000 renewed grant from the Male Contraceptive Initiative (MCI), bringing MCI's total contribution to $400,000.
Next has so far closed a total of six seeds, per Walley, bringing it to $10 million in total capital raised to-date (none of which will go towards the Series A).
Walley expects the Series A to close by the end of June.
What's next: Series A money will go toward early feasibility trials in Australia and Canada, as well as preparing for a 2027 U.S. FDA submission.