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    September 18, 2009 — (BRONX, NY) — An innovative drug-delivery system — nanoparticles encapsulating nitric oxide or prescription drugs — shows promise for topical treatment of erectile dysfunction (ED), according to a new study by scientists at Albert Einstein College of Medicine of Yeshiva University. The new system, tested successfully on a small number of animals, could potentially prevent side effects associated with oral ED medications, if study results can be replicated in humans. That could mean safer and more effective ED therapy for millions of men with heart disease and other health problems affecting erectile function. The study is published today in the online edition of the . However, these medications — which belong to a class of drugs called phosphodiesterase type 5 (PDE5) inhibitors — have limitations. They can cause systemic side effects that can be serious. These side effects include headache, facial flushing, nasal congestion, upset stomach, abnormal vision as well as isolated reports of hearing and vision loss. READ THE FULL DARE RESEARCH REPORT Q2 / Pipeline Update Daré (NASDAQ: DARE) continues to not only move their various development programs forward, but also continues to add promising candidates to their high-potential women’s health-focused pipeline. Relative to the former, DARE provided development updates during recent presentations at two of the most highly anticipated annual small-cap conferences; Canaccord Genuity’s Annual Growth Conference (August 9th) in Boston and H. Wainwright’s Annual Global Investment Conference (September 6th) in NYC. As anticipated, operating expenses climbed from the previous quarter, reflecting personnel additions, Ovaprene development-related costs, expenses related to the (May) acquisition of Pear Tree Pharmaceuticals and an increase in licensing fees related to Juniper’s intravaginal ring technology (which DARE secured in April). Relative to the latter, DARE’s most recent pipeline addition, Cat Sper, a potential first-in-kind contraceptive for both men and women, was announced in mid-July. Cash balance was a healthy $12.5M at Q2 quarter-end and the balance sheet remains debt-free. Cash balance should further benefit from ~$1.7M that remains under the NIH grant related to development of Ovaprene. Securing non-dilutive funding, such as this recent award, is an ongoing goal for DARE. Given that their focus on developing novel contraceptives aligns with the goals of foundations and certain government initiatives aimed at reducing unwanted pregnancies through increasing the use of birth control (which includes providing new contraceptive options), we anticipate further success in securing non-dilutive funds. DARE Adds Novel Preclinical Contraceptive Candidate for Men and Women In mid-July DARE announced an asset transfer agreement with Hydra Biosciences for their Cat Sper ion channel intellectual property.

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