Funding profile · Contraception

YourChoice Therapeutics

One announced round in eight years, no Regulation D notice of its own, and a single outside vehicle that collected just over a million dollars from 40 people in September 2025. The clinical record is public. The capital record is thin.

$15.0MSeries A announced July 2022, company-reported
$1.03MSold by an outside SPV, Form D, September 2025
40Investors in that vehicle, average about $25,800
$225KOnly federal award on record, NICHD, FY2019

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Winter 2019 Y Combinator batch Not disclosed Y Combinator YC data
FY2019 NICHD small business award 1R43HD097944-01 $224,998 National Institute of Child Health and Human Development NIH record
Jul 2022 Series A $15,000,000 Led by Future Ventures, with North South Ventures, RH Capital and Olive Tree Capital Independent reporting
Since inception Nonprofit grant support Not disclosed Male Contraceptive Initiative Partner-stated
Sep 2025 Portfolia 2025 YourChoice SPV LLC $1,030,948 sold 40 investors, managed by Portfolia Venture Management LLC Form D

What the filings show

Portfolia 2025 YourChoice SPV LLC · Form D · filed Sep 15, 2025

First sale
Sep 10, 2025
Type
Pooled investment fund, venture capital fund (single-company SPV)
Offered
Indefinite
Sold
$1,030,948 · amount remaining reported as indefinite
Investors
40 · average about $25,774 · none non-accredited
Minimum
$10,000 outside investment accepted
Fees
Sales commissions $0 · finders fees $0
Exemptions
Rule 506(b); Investment Company Act 3(c)(1)
Related persons
Portfolia Venture Management LLC, managing member of the issuer; Patricia Costello, director of the managing member
Filing
SEC EDGAR, CIK 0002085475, San Mateo, CA

Reading the filings

  1. The company has filed no Form D at all.A search of EDGAR returns no Regulation D notice under YourChoice Therapeutics, Inc., despite a $15 million round reported in July 2022 and seed money before it. Issuers that raise under Section 4(a)(2) rather than Regulation D file nothing, so the absence is not evidence that no money moved. It does mean the only primary filing that names this company was written by somebody else.
  2. The one filing is angel-sized.$1,030,948 divided among 40 investors is about $25,774 each, and the vehicle accepted a minimum outside investment of $10,000. That is a syndicate of individuals, not an institutional round. Portfolia runs themed investor funds, and the vehicle was formed in Delaware in 2025 for this single position.
  3. Money moved in 2025 with no announcement.The SPV recorded its first sale on September 10, 2025 and filed five days later, inside the 15 day window. No company release, and no independent report found, describes a 2025 financing. Whatever round that vehicle was buying into was not publicized.
  4. Non-dilutive support paid for the program that was set aside.The single federal award on record, $224,998 from NICHD in FY2019, funded a plant-derived on-demand contraceptive for women, not YCT-529. The federal money behind YCT-529 went to the University of Minnesota, whose laboratory discovered the compound and licensed it to the company. Nonprofit support from the Male Contraceptive Initiative is repeatedly described in releases but never quantified.
  5. The asset sits on a license, not on internal chemistry.The Regents of the University of Minnesota hold the patent, published as US-2022-0388993-A1 on December 8, 2022, and YourChoice holds the exclusive license. The inventor consults for the company. Any acquirer is buying a license position and a clinical package, which is a different balance sheet than owning the composition of matter outright.

Commercial signals

Signal Detail Source type
Regulatory No FDA approval, clearance or marketing application on public record. The company labels YCT-529 investigational. Public record
Clinical Phase 1a completed June 2024 and published July 2025. Repeat-dose study NCT06542237 started September 2024, estimated enrollment 88, estimated primary completion July 31, 2026, still listed as recruiting. Public record
Efficacy A reduction in sperm count in the current study was reported by STAT in February 2026 on the company’s word. No posted results, no efficacy publication. Company-stated
Revenue None. No product, no partnership revenue disclosed. Not found
Category funding Contraline closed a $92.5 million Series B on June 2, 2026, co-led by BVF Partners and RA Capital, for a hormonal gel licensed from the Population Council and its own implant. The category can now raise at that scale. Independent
Exit dependency The University of Minnesota inventor has said publicly that a larger company will have to take the drug over, and that none is working in this area. Interview

What to watch

  • A Form D under the company’s own name, which would be the first primary evidence of a post-2022 round.
  • Amended or further filings from the Portfolia vehicle, whose offering amount is left open.
  • Sperm count data from NCT06542237, the result that sets any Series B valuation.
  • A registry update on a study whose estimated primary completion date has passed.
  • A pharmaceutical partner, without which a placebo controlled efficacy trial is hard to fund.

The YourChoice Therapeutics story on Healthcare DiscoveryHealthcare Discovery

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  • SFA Therapeutics: Shared investor: North South Ventures. A Temple University spinout turning short chain fatty acids from the human gut into oral pills
  • Asher Bio: Shared investor: Ra Capital. A South San Francisco company rebuilding interleukin-2 so it reaches only the killer T cells that attack tumors
  • Granza Bio: Shared investor: North South Ventures. A San Francisco biotech trying to turn the immune system's own cell killing machinery into a programmable drug platform

Sources

  1. Public recordForm D, Portfolia 2025 YourChoice SPV LLC, CIK 0002085475SEC EDGAR · Sep 15, 2025
  2. Public recordNIH RePORTER 1R43HD097944-01, NICHDNIH · FY2019
  3. Public recordClinicalTrials.gov NCT06094283 and NCT06542237ClinicalTrials.gov · accessed Sep 22, 2026
  4. Public recordSafety and pharmacokinetics of the non-hormonal male contraceptive YCT-529, competing interests statementCommunications Medicine · Jul 22, 2025
  5. IndependentYourChoice Therapeutics banks $15M for male contraceptionAxios, Erin Brodwin · Jul 20, 2022
  6. IndependentMale contraception company YourChoice Therapeutics adds $15M in Series A fundingFemtech Insider · Jul 28, 2022
  7. IndependentAs male birth control gets closer to reality, men are lining up for clinical trialsSTAT, Annalisa Merelli · Feb 2, 2026
  8. IndependentContraline and its male birth control candidate rally $92.5MFierce Pharma, Fraiser Kansteiner · Jun 2, 2026
  9. IndependentBehind the scenes: creating a hormone-free male birth control pillUniversity of Minnesota · Dec 22, 2025
  10. CompanyYourChoice Therapeutics begins second human studyBusiness Wire · Sep 24, 2024
  11. CompanyYourChoice Therapeutics website, investor and clinical development pagesAccessed Sep 22, 2026

Compiled from SEC, NIH and ClinicalTrials.gov public records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in YourChoice Therapeutics. This page is not an offer to sell or a recommendation to buy any security.