Lyndra Therapeutics, the company that has literally rendered daily pills obsolete, has reportedly announced receiving a USD 13 million grant from the Bill & Melinda Gates Foundation for the development of an oral contraceptive which is expected to last for over a month.
As per the authentic sources, the endowment is a part of the Bill and Melinda Gates Family Planning program, which is currently working on providing access to high-quality contraceptive information, facilities and supplies to women in low- and middle-income countries.
According to the industry experts nearly 214 mn women of reproductive age in developing regions are avoiding the use of contraceptives as of 2017. Amongst the estimated 206 million pregnancies reported in 2017 in the developing nations, 43% were unplanned, and the care expenses related to these pregnancies approximately adds up to USD 8.3 billion yearly.
Amy Schulman, CEO & co-creator of Lyndra Therapeutics was reportedly quoted stating that the 13-million-dollar grant was special to the company as it extends their focus on addressing the unmet therapeutic needs into women health. The company is also gratified to be associated with the Bill and Melinda Gates Foundation’s attempts to improve the lives of women and ensure proper health conditions.
Reportedly, with the funds collected, Lyndra is currently designing and structuring a new once-a month oral combination therapy that produces a continuous dosage of estrogen and progestin, which are used in everyday combined oral contraceptives. The development program is focused on demonstrating that once-monthly residence is achievable which includes preclinical evaluation conducted in collaboration with a non-profitable social and public health research organization- Routes2Results with extensive regional expertise, through additional funding from the foundation.
Headquartered in USA, Lyndra Therapeutics aims to advance the healthcare outcomes through oral therapies that change the way people take medicines.
Source credit: https://finance.yahoo.com/news/lyndra-therapeutics-develop-once-monthly-040100614.html