(CBS SF) — A Massachusetts company is rethinking the future of contraception with a tiny chip that can be implanted under a woman’s skin.

CNET reports how MicroCHIPS, a MIT entity backed by the Gates Foundation, is developing a 20x20x7 millimeter chip that’s designed to last up to 16 years, or about half of woman’s reproductive lifespan.

The chip releases a daily dose of levonorgestrel, a common hormone already used in several contraceptives, and can be turned on and off again with remote control depending on when a woman wants to conceive.

The device, which can be implanted in a 30 minute procedure, has been tested in a human clinical trial and is awaiting FDA approval for pre-clinical trials by next year.