Mission-Driven Entrepreneurship

When it comes to contraception, the burden has historically fallen on women. However, thanks to L.R. Fox (aka Fox) and his team at NEXT Life Sciences, a paradigm shift is gradually taking root. 

Fox isn’t your average entrepreneur. While many leave footprints in one or two different fields, his resume spans a wide range of tightly regulated industries, including cybersecurity, defense, and aerospace. On top of that, he was featured in Forbes' list of 30 under 30 in 2019 and founded WhiteFox Defense Technologies, a trailblazer in drone airspace security. Most recently, he dove into the world of medtech head-first, and the prospects are no less promising than in any of his previous ventures.

Around 50% of pregnancies in the U.S. are unplanned, a statistic that isn't just alarming but calls for immediate and cogent action. Fox's current endeavor, NEXT Life Sciences, started off in 2020. As a child who grew up in the foster care system, his epiphany regarding family planning struck him "like a brick in the face" when he realized that a fundamental human right had been grossly overlooked: the right to choose when and whether to have a child. 

As for NEXT’s flagship product, Plan A is a long-lasting — but reversible — male contraceptive. It’s a quick, simple, and pain-free contraceptive procedure that utilizes a proprietary hydrogel. The gel is injected into the vas deferens, where it solidifies into a microfilter, allowing all fluids to pass through — except sperm. A subsequent quick injection of sodium bicarbonate can dissolve the hydrogel matrix, turning it back into a liquid that is easily flushed from the body for those who wish to reverse the procedure completely.

The core technology behind this innovative male contraceptive had its origins in the 1970s, thanks to the pioneering work of Professor Guha in India. Backed by decades of research, including an incredibly comprehensive 13-year-long study, the technology was scrutinized and refined.

Around 2010, the study crossed over to the United States, taken up by a nonprofit called the Parsemus Foundation under the name Vasalgel. Here, it underwent another decade of preclinical testing in animal models that helped solidify its promise and efficacy.

Interestingly, Fox was aware of the studies and knew he wanted Plan A for himself long before it became his venture. "I signed up even as a teenager. I was like, 'This just makes sense,'" he recalls. 

Recognizing its potential, NEXT Life Science partnered with the Parsemus Foundation to bring this innovation to market and is now preparing for clinical trials.

NEXT Life Sciences recently announced that they have raised $1.55 million, and the studies are set to launch in late 2023 or early 2024.

Key Learnings From Fox’s Experience

• In emerging markets, there is often room for multiple players to thrive. Fostering collaboration often yields greater results than intense competition. That’s why taking a human-centric approach to resource management can often be more effective than merely relying on financial incentives. 

• The adoption of a product hinges on the complete understanding of your target market, which includes stakeholders beyond your immediate end-users like care partners, payers, and even skeptics. Engaging with these groups will allow you to capture patient insights across the lifecycle of your technology – from development to commercialization.

• Fundraising is more about finding investors aligned with your mission than it is about securing money. Here, authenticity is key, and rejection can be a stepping stone to better opportunities. Working on a technology with a broader social impact can also further enhance investor appeal.