OAKLAND, Calif. – September 1, 2020 – Cadence Health, a mission-driven organization focused on women’s health OTC products, today announced the successful closing of its Series C financing, raising $14.1 million. The round was led by the impact investment arm of a major foundation, and included new mission-aligned investors Global Fund for Women, Lindelof Trust, Elizabeth Banks, Gamble Family members, Sant Foundation and Spielberg Trust, as well as existing investors. In conjunction with the financing, the foundation will select a director to join the Cadence Board, bringing the board total to six.
“Cadence Health’s mission to make reproductive health products accessible to all women aligns with our impact investment work and Women’s Rights Program. We look forward to actively partnering with the company to advance its efforts,” commented the foundation's Director of Investments. “With COVID-19 creating even more distinct barriers for underserved populations to access birth control, we believe this is the team with the product portfolio and vision to break down obstacles for women nationwide.”
“The foundation's impact investment team devoted an enormous amount of time and effort to understand all aspects of our OTC switch process as well as our strategy for commercialization. Our groups are so well aligned and compatible - we expect an extraordinary collaboration moving forward in achieving our mission to bring the oral birth control pill over-the-counter,” commented Nap Hosang, M.D., co-CEO of Cadence Health.
“We have completed 26 consumer studies with more than 1800 women and we plan to begin our Actual Use Trial in the year ahead,” said Samantha Miller, co-CEO of Cadence Health. “This funding will allow us to complete our actual use consumer trial, submit our application to the FDA, complete manufacturing validation, and ramp up our marketing preparations to be ready for a robust launch of our first over-the-counter oral combination contraceptive, Zena™.”
About Cadence Health
Cadence Health is knocking down the obstacles between women and the reproductive health options they want – starting with bringing The Pill over the counter. We’re making safe, affordable options available to all women, without a prescription. Based in Oakland, California, Cadence is founded, led, and supported by a diverse team of internationally renowned reproductive health experts, world-class entrepreneurs, and champions of women. A public benefits company, Cadence is committed to transforming reproductive health for all women everywhere.