DARE Dare Bioscience Inc

On April 9, 2018, the Board of Directors (the “Board”) of Daré Bioscience, Inc. (“Daré”), upon recommendation of Daré’s Nominating and Corporate Governance Committee (the “N&CG Committee”), increased the size of the Board from five directors to six directors and elected Jessica Grossman, M.D. to fill the vacancy created by such increase. The increase in the size of the Board and the election of Dr. Grossman became effective on April 9, 2018. Dr. Grossman was elected as a Class I director whose term expires at Daré’s 2018 annual meeting of stockholders, expected to be held in July, 2018. The Board determined that Dr. Grossman is as an “independent director” under Rule 5605(a)(2) of the Nasdaq Listing Rules.

Immediately following Dr. Grossman’s election to the Board, the Board appointed her as a member of the N&CG Committee and Roger Hawley resigned from his position as a member of the N&CG Committee. The N&CG Committee is presently composed of Susan L. Kelley, M.D. as Chairperson and Dr. Grossman as a member.

Dr. Grossman currently serves as the Chief Executive Officer of Medicines360, a position she has held since 2015. Medicines360 is a global non-profit women’s health pharmaceutical company that developed the FDA approved contraceptive IUS LILETTA ^® (levonorgestrel-releasing intrauterine system). From 2011 to 2014, Dr. Grossman served on the board of directors of Medicines360, and from 2014 to today she has served as Chair of AlliancePartners360, a wholly owned subsidiary of Medicines360. From 2013 to 2014, Dr. Grossman served as President and Founding Chief Executive Officer of Sense4Baby, Inc. Dr. Grossman served as a Medical Director at Ethicon Endo-Surgery, part of the Johnson & Johnson family of companies, from 2010 to 2013. From 2008 to 2010, Dr. Grossman was the Founder and Chief Executive Officer of JG Limited LLC, a consulting company providing services to medical technology companies and non-profit organizations in the areas of clinical and commercial strategy. From 2005 to 2008, Dr. Grossman was Founder and President of Gynesonics, an early stage medical device company focused on minimally invasive solutions for women’s health which developed the first intrauterine ultrasound-guided radiofrequency ablation device for fibroid tumors. Dr. Grossman holds numerous patents, has published several peer-reviewed articles and conducted research at the Beth Israel Deaconess Medical Center, one of the teaching hospitals of Harvard Medical School. Dr. Grossman received her M.D. from Thomas Jefferson University, Jefferson Medical College.

There are no arrangements or understandings between Dr. Grossman and any other person pursuant to which she was selected as a member of the Board. Daré is not aware of any transaction in which Dr. Grossman has an interest requiring disclosure under Item 404(a) of Regulation S-K.

In connection with her election to the Board, Dr. Grossman will not receive any equity compensation as of the date of her election, but she will receive equity compensation on the date of Daré’s 2018 annual meeting in accordance with Daré’s non-employee director compensation policy then in effect. In connection with Dr. Grossman’s election to the Board, Daré will enter into an indemnification agreement with Dr. Grossman in the same form that Daré has entered into with its other directors.