Contraline One Step Closer to FDA
Monday, June 13, 2016
Contraline, a male contraceptive company founded by University of Virginia graduate Kevin Eisenfrats and UVa professor John Herr, raised $700,000 this spring to begin testing its product in rats, which will produce data it can present to the FDA.
The FDA process, Eisenfrats said, likely will take four or five years, meaning Contraline might not be on the market until 2020.
“My plans for the next five years are to make Contraline succeed. I will be working on this 100 percent of the time until we get FDA approval,” he said. “I was pre-med all through college, and I put med school on hold for Contraline. This is my calling and this is what I want to do.”
The company procured funding from angel investor and UVa alum Mark Galant; Paris-based venture fund Kima Ventures; Felton Group, a fund managed by Jaffray Woodriff, CEO of Quantitative Investment Management; Philippe Sommer; William Stilley; and Charlottesville-based pharmaceutical processing company Afton Scientific.
Contraline has been awarded a spot in the fellowship program of San Francisco Bay-area startup incubator Y Combinator, and a $20,000 investment from the incubator, as well as, $50,000 in funding through the Commonwealth Research Commercialization Fund program.