3Daughters closes oversubscribed $4.7m seed funding for novel IUD contraception
The start-up is working on a more comfortable non-hormonal IUD for women
A major barrier for women when considering which contraception method to use is pain - particularly with intrauterine device (IUD) insertion and remova;.
3Daughters, a clinical development company working on a more comfortable non-hormonal IUD for women, has announced successful completion of an oversubscribed Seed financing round of $4.7M.
The start-up, based out of Massachusetts, USA, previously announced the close of the first tranche of $2million towards this seed round back in January 2024.
Research indicates that over 275 million women worldwide use intrauterine devices (IUDs), with copper IUDs being the most popular choice for non-hormonal, long acting, and reversible contraception.
3Daughters’ small frameless IUD ‘self-assembles’ in the uterus using magnets and conforms to a women’s body with no strings needed. 3D-001 is paired with a patented inserter and retriever designed as an integrated system to eliminate the three major pain points during the IUD insertion process.
This round included participation from existing investors Thairm Bio, Argosy Foundation, Wexford Science and Technology, LLC, UMass Amherst, and new undisclosed investors.
The additional investor participation underscores the growing significance and need for innovation in women’s health and particularly for contraception - a growing $8 billion dollar market in the US. Women use contraceptives on average for 30 years and improved options are needed.
Mary Beth Cicero, CEO of 3Daughters, said:
“We are thrilled by the overwhelming response from both our existing and new investors who share our determination and dedication to improving therapies for women, starting with our advanced IUD and integrated system for insertion and retrieval.
“Notably, this oversubscribed round supports our preclinical development through an IND filing in early 2025, a major milestone in our development timeline.”
3Daughters has now launched a Series A financing round of $15M to fund 3D-001’s first-in-human Phase 1 study expected to start following IND approval in 2025.