3Daughters, a clinical development company dedicated to advancing healthcare for women, has successfully closed over $2 million in the initial phase of its seed funding round. The round, led by Thairm Bio and supported by the Argosy Foundation, Wexford Science & Technology, UMass Amherst, and other undisclosed investors, marks a significant step in the company’s mission to develop a new intrauterine device (IUD) for contraception. The focus of 3Daughters’ solution is to address insertion pain, a major deterrent for women considering this form of birth control.
The company is advancing in the IUD sector with its unique frameless delivery platform, leveraging physics and geometry for targeted therapy directly into the uterus. The first product from this technology, 3D-001, is a copper-containing IUD, recognized for its contraceptive efficacy. The device’s distinctiveness lies in its frameless structure, paired with the proprietary i-Slider for insertion and r-Slider, a straightforward magnetic retriever, aiming to mitigate the discomfort typically associated with IUD insertion. The recent seed funding will facilitate the progression of 3D-001 through an IND filing and a Phase 1 clinical trial in the upcoming year.
Mary Beth Cicero, Co-Founder and CEO of 3Daughters, commented, “We are thrilled to have garnered such strong support from our existing and new investors, all of whom share our vision of solving health issues for women. This investment marks the next chapter for 3Daughters and allows us to execute our streamlined development plans to move into the clinic. With this funding, we are getting closer to our promise to address significant and neglected issues, like IUD insertion pain, that women have been putting up with for over 50 years.”
“The lack of innovation in women’s health and the significant need 3Daughters is addressing drew me to this investment. It is clear that women’s health gets overlooked from an investment perspective and I want to be a part in changing that dynamic,” commented Mark Bamforth, Thairm Bio. “Given the apparent urgency for new and effective contraceptive options and the pain women experience with IUDs, I recognized the need and formed an investment vehicle with my colleagues to help fund this important innovation for women.”
Emily Van Dunk, Executive Director of the Argosy Foundation, stated, “Supporting 3Daughters aligns with our vision of empowering people and making a positive impact on communities globally. The recent changes in reproductive rights have strengthened our resolve to continue funding access to contraceptives, and we continue to support advancing women’s health with our investment in 3Daughters. We believe in the transformative potential of the 3Daughters novel IUD to make a significant impact for women.” The Argosy Foundation is a private family foundation founded in 1997 by John Abele, Founding Chairman of Boston Scientific.
“Wexford SciTech Fund is focused on investing in early seed opportunities in life sciences. We were attracted by the innovative technology of a frameless uterine delivery platform and the significant market need of addressing IUD insertion pain,” commented Thomas Osha, Executive Vice President, Wexford Science & Technology. “3Daughters has an outstanding Scientific Advisory Board and through this partnership, we will provide access to Wexford’s substantial network of university talent, industry experts, and strategic partners, as well as resources to help them scale and grow even faster. The 3Daughters team’s commitment to innovation for women, solid operational, scientific, and executive leadership, and, most importantly, the potential for positive impact on women’s health make this investment an exciting venture for us.”
“We aim to bring in an additional $1M to close the planned $3M seed financing round by the first quarter of 2024,” stated Mary Beth Cicero, Co-Founder and CEO of 3Daughters, and Shelley Amster, Co-Founder and Chief Strategy & Growth Officer.
