After more than a decade of trying to "reinvent the condom," Australian medtech startup Eudaemon Technologies said it's ready to begin manufacturing it at scale and taking the technology to global markets.
The Sydney company has officially launched its manufacturing facility in Annandale, completed an oversubscribed $4.5 million seed raise and opened a further $10 million funding round to support its commercialization plans.
Eudaemon has also launched Operation International Relations, its first major consumer campaign, as it starts building an audience in Australia and the United States ahead of a targeted 2028 commercial launch.
Eudaemon’s lead product is the world’s first hydrogel condom. The company said it's 50 percent water, inherently wet, latex-free and designed to more closely replicate the mechanical and thermal properties of human tissue.
The technology grew out of research supported by the Bill & Melinda Gates Foundation’s Grand Challenges initiative, which sought to develop a new condom to increase uptake and improve sexual health outcomes worldwide.
Eudaemon Technologies
The company's advanced manufacturing facility in Annandale, Sydney, has now officially launched as it prepares for the next stages of clinical development and commercialization. It has secured 61 granted patents, including in the U.S. and China, and has successfully completed an initial clinical study of the technology.
Eudaemon Executive Chairman and Co-Founder Nick Northcott said the company was entering an important stage of its development.
“We’ve spent more than a decade working through the science, engineering and manufacturing required to reinvent the condom. A lot of that work has happened quietly. We’ve developed the material, built the machines, tested the product and worked out how to manufacture something that hasn’t been made before," he said in a statement. “We now have our manufacturing facility operating in Sydney, fresh capital behind us and a clear path towards commercial launch. We’re also ready to start introducing Eudaemon to consumers and building the audience we hope will eventually buy the product.”
