The sum will support the researchers in a two-year project, which will see the development of a reversible and non-hormonal male contraceptive, that will prohibit the mobility and effectiveness of sperm.
And the US-based charity, The Male Contraceptive Initiative who have granted the £120,000 ($150,000), will be working with the university in the development of the oral contraceptive.
John Howl, Professor of molecular pharmacology said: "We are so pleased to have been successful to be awarded the grant to move towards a crucial stage in our research.
"These continued developments have recently attracted significant commercial interest and we are confident that this research will provide substantial benefits for the University of Wolverhampton as we introduce a new contraceptive modality that is both reversible and safe, and that we hope will become a viable supplement to existing birth control techniques."
Dr Sarah Jones, reader in pharmacology said: "This is an exceedingly exciting time and the first step to drive our non-hormonal male contraceptive into the clinical setting. Finally, years of dedicated effort have come to fruition."