Cadence OTC Announces Community Investment Campaign to Support the Movement for Accessible Birth Control in Post-Roe America
28 March 2024 - 11:00PM
Business Wire
A unique opportunity to own a stake in the
mission to revolutionize contraceptive access
Cadence OTC, a pioneering public benefits consumer healthcare
company, has passionately pursued the vision of accessible
over-the-counter (OTC) birth control pills. Today marks an exciting
development in this journey, as Cadence OTC unveils a community
investment round on Wefunder, a platform that allows individuals to
invest in startups. The campaign invites the public to champion
affordable, accessible birth control and make a heartfelt
investment in women's reproductive autonomy.
In the United States, the pressing issue of 2.3 million
unintended pregnancies each year underscores the critical need for
accessible contraception. For over six decades, the path to
obtaining birth control pills has remained confined behind
prescription barriers. Cadence OTC is at the forefront of a
revolution in reproductive health, advocating for accessibility and
affordability. Their collaboration with the U.S. Food and Drug
Administration (FDA) is working to bring forth a combination oral
contraceptive pill available over the counter without a
prescription. If approved, the FDA provides 3 years of market
exclusivity for Cadence’s product category within a total
addressable market of more than $9 billion. Cadence's innovative
efforts have already materialized in the first emergency
contraceptive – Morning After Pill (MAP) – now accessible through
our partnership with the #1 distributor of healthcare products
across over 150,000 convenience stores nationwide, like
7-Eleven.
Samantha Miller, co-founder and co-CEO of Cadence OTC, asserts,
“Birth control should be as easy to buy as condoms. We are
committed to removing the hurdles in accessing contraception,
enabling women to take charge of their reproductive decisions any
time, any place. This community investment opportunity invites
everyone who supports equity in contraceptive access to join us in
this transformative journey, investing in a future where birth
control is within everyone’s easy reach.”
The Wefunder campaign is a community-building initiative running
in parallel with Cadence OTC's core fundraising effort, spearheaded
by the Soros Economic Development Fund. The company has already
garnered more than $35 million in support from investors like RH
Capital, NJF Capital, Elizabeth Banks, Abigail Disney, and the
Global Fund for Women. This funding will propel the commercial
expansion of Morning After Pill (MAP) in convenience stores
nationwide, launch its ultra-sensitive pregnancy test, and most
importantly, support the final steps toward making its OTC birth
control pill a reality.
Dr. Nap Hosang, co-founder, co-CEO, and chief medical officer of
Cadence OTC emphasizes, “Investing is not just for the affluent;
we’re democratizing it to empower those committed to improving
contraceptive access. The consequences of unintended pregnancies
are profound, affecting education, economic stability, and health.
The time is now to revolutionize our outdated birth control access
methods.”
The Cadence OTC community funding round is open to all on the
Wefunder platform, with a minimum investment of $250, and investor
perks beginning at a $500 investment level. To be part of this
historic movement in reproductive care and for more information on
Cadence OTC, visit https://wefunder.com/cadenceotc/.
About Cadence OTC: Cadence OTC is a Public Benefits
consumer healthcare company headquartered in Oakland, CA, on a
mission to enhance over-the-counter (OTC) access to safe,
effective, and affordable contraceptives for everyone, everywhere.
Cadence holds rights to three of the most popular oral
contraceptive formulations and is actively working towards moving
The Pill from prescription to over-the-counter. Additionally, the
company is making history by introducing an OTC emergency
contraceptive to convenience stores nationwide. Founded and led by
renowned reproductive health experts, experienced healthcare
entrepreneurs, and passionate supporters, Cadence OTC is committed
to ensuring equal accessibility to birth control for all
individuals. Learn more at www.cadenceotc.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240328289214/en/
Dara Shlifka dara@gcomworks.com 646-964-4446