Whitehead credits her work with Addyi for inspiring her focus on the women’s market, and says she still hopes the drug will succeed. The company has not taken any outside investment it will be funded in large part by the $1 billion sale of Sprout. Right now, The Pink Ceiling consists of ten people-all women, and all of whom have worked with Whitehead before. “We’re looking for companies that are either going to propel the social conversation or open up a new category,” says Whitehead, noting that interested startups can submit through. But she’s also happy to branch out into other industries. Pharma companies are welcome, says Whitehead, and would likely benefit from her extensive experience with regulatory approvals. Whitehead says that although The Pink Ceiling will focus on companies that are developing “women-centric” products, it is not necessary that companies have female founders or leadership teams-though “it’s a bonus if it’s led by a woman,” she says. Interestingly, the startup was founded by four recent North Carolina State University grads, all of whom are male. “I asked them, ‘How can I help?'” She was drawn to the idea of a product that could become “a real solution to a real problem faced by women.” “I understand how misunderstandings can become truths,” says Whitehead, referring to some of the negative media coverage of Addyi. Sign up: Click here to subscribe to the Broadsheet, Fortune’s daily newsletter on the world’s most powerful women. Whitehead says that she reached out to the Undercover Colors founders after reading the early press on the company, some of which has been quite critical, alleging that such products imply that the responsibility for protecting themselves against assault should be borne by women. The Pink Ceiling is an investor in the Undercover Colors, though Whitehead declines to specify the size of that investment. In theory, the product should allow a woman to dunk her nail into a drink and immediately know whether it’s been spiked. The startup says its polish will change color when it comes into contact with ketamine, ecstasy, Rohypnol, or GHB. The company’s first partner is Undercover Colors, a Raleigh, N.C.-based company that is developing nail polish intended to help wearers detect the presence of date-rape drugs.
For those that she doesn’t put money into, Whitehead will charge for her services. She expects The Pink Ceiling to invest in some, but not all, of the companies it works with. Whitehead says that the company will partner with startups that provide products or services to women, helping the fledgling businesses come to market and scale. For those who have followed her 22-year long career in pharmaceuticals, the nature of her new company may be a surprise-though the through-line from her work on Addyi is clear.Ĭalled The Pink Ceiling-a fitting name, given Whitehead’s signature hot pink lipstick and clothing-the new company is something of a cross between a VC fund, an incubator, and a consulting firm. But not for long: Just four months later, Whitehead is back with a new venture that launches Wednesday.
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