Agile Therapeutics, Inc. Raises $11.1 Million And Announces Name Change (Formerly Levotech, Inc.)

Investment Supports Ongoing Development of 7-Day Contraceptive And

HRT Patches



Apr 04, 2001, 01:00 ET from Agile Therapeutics, Inc.

    WEST CONSHOHOCKEN, Pa., April 4 /PRNewswire/ -- Agile Therapeutics, Inc.
 (formerly known as Levotech, Inc.) today announced that it has raised over
 $11 million in equity financing.  The investment was lead by TL Ventures and
 included the affiliates of the Hillman Company and PA Early Stage Partners.
 The funds will be used to support the ongoing clinical development of Agile
 Therapeutics' 7-day contraceptive patch and the development of a 7-day hormone
 replacement therapy (HRT) patch.  The next trial Agile plans is a Phase II
 trial to evaluate different contraceptive formulations of levonorgestrel (LNG)
 and ethinyl estradiol (EE), and is scheduled to commence this month.
     "We now have the funds required to aggressively pursue the continued
 clinical development of transdermal approaches to delivery of contraceptives
 and hormone replacement therapy (HRT)," said Tom Stagnaro, President and Chief
 Executive Officer.  "Transdermal delivery offers a number of advantages to
 many women over oral delivery.  For example, since there are no peaks and
 valleys in hormonal blood levels, as are experienced with oral approaches, we
 have seen significantly fewer nausea and vomiting episodes in clinicals
 conducted to date."
     Mr. Stagnaro noted that Agile Therapeutics, Inc. has been chosen to
 replace the Levotech, Inc. name because Agile reflects the approach that the
 company is assuming towards women's health issues.  "We will be responsive,
 nimble and well-coordinated in our development activities," he said.  "Our
 goal is to stay on top of women's health issues and take advantage of the many
 opportunities in this large and important category."
     "Agile has all of the right characteristics associated with success," said
 Chris Moller, Managing Director, TL Ventures.  "The management team is strong,
 the markets for contraceptive and HRT products are large, and the clinical
 program that Agile has already completed reduces the investment risk
 considerably."
     Agile has conducted a number of clinical trials on the 7-day contraceptive
 patch.  Over 100 women have already been evaluated.  Mr. Stagnaro indicated
 that progress to date has been excellent and that the company plans to
 initiate additional trials during the year 2001.  "The goal of these next
 trials," he said, "is to lock-in the final dosage form prior to the phase III
 trial.  Our next trial will evaluate different contraceptive formulations of
 levonorgestrel (LNG) and ethinyl estradiol (EE).  Mr. Stagnaro said the
 contraceptive and HRT markets are each is over $1 billion in size and growing.
 Agile Therapeutics, Inc., is a development-stage research-based company
 founded in 1997, focusing on the development of novel transdermal products
 addressing women's health.  Its lead product is a 7-day transdermal
 contraceptive patch, combining levonorgestrel (LNG), a synthetic progestin,
 with ethinyl estradiol (EE), a synthetic estrogen.  Contact Tom Stagnaro at
 Agile:  tel. 610 940-0300; fax 610 940-0301.
 
 

SOURCE Agile Therapeutics, Inc.
    WEST CONSHOHOCKEN, Pa., April 4 /PRNewswire/ -- Agile Therapeutics, Inc.
 (formerly known as Levotech, Inc.) today announced that it has raised over
 $11 million in equity financing.  The investment was lead by TL Ventures and
 included the affiliates of the Hillman Company and PA Early Stage Partners.
 The funds will be used to support the ongoing clinical development of Agile
 Therapeutics' 7-day contraceptive patch and the development of a 7-day hormone
 replacement therapy (HRT) patch.  The next trial Agile plans is a Phase II
 trial to evaluate different contraceptive formulations of levonorgestrel (LNG)
 and ethinyl estradiol (EE), and is scheduled to commence this month.
     "We now have the funds required to aggressively pursue the continued
 clinical development of transdermal approaches to delivery of contraceptives
 and hormone replacement therapy (HRT)," said Tom Stagnaro, President and Chief
 Executive Officer.  "Transdermal delivery offers a number of advantages to
 many women over oral delivery.  For example, since there are no peaks and
 valleys in hormonal blood levels, as are experienced with oral approaches, we
 have seen significantly fewer nausea and vomiting episodes in clinicals
 conducted to date."
     Mr. Stagnaro noted that Agile Therapeutics, Inc. has been chosen to
 replace the Levotech, Inc. name because Agile reflects the approach that the
 company is assuming towards women's health issues.  "We will be responsive,
 nimble and well-coordinated in our development activities," he said.  "Our
 goal is to stay on top of women's health issues and take advantage of the many
 opportunities in this large and important category."
     "Agile has all of the right characteristics associated with success," said
 Chris Moller, Managing Director, TL Ventures.  "The management team is strong,
 the markets for contraceptive and HRT products are large, and the clinical
 program that Agile has already completed reduces the investment risk
 considerably."
     Agile has conducted a number of clinical trials on the 7-day contraceptive
 patch.  Over 100 women have already been evaluated.  Mr. Stagnaro indicated
 that progress to date has been excellent and that the company plans to
 initiate additional trials during the year 2001.  "The goal of these next
 trials," he said, "is to lock-in the final dosage form prior to the phase III
 trial.  Our next trial will evaluate different contraceptive formulations of
 levonorgestrel (LNG) and ethinyl estradiol (EE).  Mr. Stagnaro said the
 contraceptive and HRT markets are each is over $1 billion in size and growing.
 Agile Therapeutics, Inc., is a development-stage research-based company
 founded in 1997, focusing on the development of novel transdermal products
 addressing women's health.  Its lead product is a 7-day transdermal
 contraceptive patch, combining levonorgestrel (LNG), a synthetic progestin,
 with ethinyl estradiol (EE), a synthetic estrogen.  Contact Tom Stagnaro at
 Agile:  tel. 610 940-0300; fax 610 940-0301.
 
 SOURCE  Agile Therapeutics, Inc.