Sabrina Martucci Johnson, CEO of Daré Bioscience, announced on Apr. 8 that the company is seeking to raise $24.3 million through a regulation A offering aimed at encouraging individuals to invest in women’s health.
The move comes as Daré prepares for several product launches this year and seeks to address the low percentage of private healthcare investment directed toward companies developing products for conditions solely affecting women. Johnson said, “We’ve been trying for a long time to close that gap between 1% of private healthcare investment that goes into companies like ours that are developing products for conditions solely affecting women.”
The offering allows individuals to invest with as little as $250, which Johnson said was designed to make participation accessible and help build momentum behind the movement. “It just seemed like the time to do something a little bit unusual,” she said.
Johnson highlighted that while anyone can participate, she especially wants women—potential customers of Daré—to become investors. The company is working on therapeutics targeting menopause, vaginal health, female fertility and other conditions without current FDA-approved options. She added, “I do feel a responsibility, in part, to build this movement and build this moment and do something that everyday investors can be a part of, because I do think that’s part of what it’s going to take to change the paradigm.”
Daré has previously collaborated with Organon on Xaciato for bacterial vaginosis but now plans solo launches including DARE to PLAY sildenafil cream for female sexual arousal disorder; DARE to RESTORE probiotics; and DARE to RECLAIM non-hormonal birth control. Johnson said trends such as increased use of GLP-1 medications among women show they are motivated healthcare consumers: “Most of the GLP-1 prescriptions are to women… Women want solutions. They will find solutions.”
Looking ahead, Johnson hopes success with this initiative will encourage more biotechs focused on women's health therapeutics: “There should be—just like there’s hundreds and whatever of oncology companies—there should be hundreds of women’s health companies.”
