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SAN ANTONIO, Texas–(BUSINESS WIRE)–Evestra, Inc. announced today that the Bill & Melinda Gates Foundation has given a grant to Evestra to advance preclinical and clinical development of a novel long-acting injectable contraceptive product for women in underserved regions such as Sub-Saharan Africa.
The $15.9 million, three and a half-year grant follows the successful outcome of a five-year research and development collaboration between Evestra and the foundation to develop novel long-acting injectable methods of contraception. The product concept is based on Evestra’s proprietary prodrug platform technology, supported by a strong proprietary position. A prodrug is a compound that is inactive until it is inside a human body, where metabolic processes convert it into an active drug.