The business, which is currently handled by Naked Communications, focuses on teenage pregnancy as well as general sexual health issues.
COI, which is handling the review, has invited the WPP-owned Mediaedge:cia and Omnicom's Manning Gottlieb OMD to pitch against Naked for the business.
The pitching agencies must provide an overall communications framework.
A COI spokesman said: "A recent strategic review held by DoH and DCSF recommends evolving the way campaigns are used.
"It recognises that, in addition to the measures that people can take to protect themselves against unwanted pregnancy and sexually transmitted infections, better communication between individuals and different audience groups has an important role to play in bringing about safer sexual attitudes and behaviours."
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