ObsEva Closes CHF 60 Million in Series B Financing

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24.11.2015

ObsEva, a Swiss biopharmaceutical company developing a novel generation of drugs addressing serious conditions compromising pregnancy from conception to birth, today announced the closing of a CHF 60 (USD 60) million Series B preferred equity financing.

The financing included new investors HBM Healthcare Investments, New Enterprise Associates (NEA), OrbiMed, Rock Springs Capital as well as existing investors Sofinnova Partners, which seeded the company, Sofinnova Ventures, Novo Ventures and MS Ventures. In conjunction with the financing, Ed Mathers from NEA will join ObsEva’s Board of Directors. The proceeds will support continued progress in ObsEva’s late-stage pipeline of novel, oral treatments for women’s reproductive health conditions.

“This significant financing and the quality of the investors affirm that ObsEva is leading the field through our development expertise in high-value, oral treatments for endometriosis, infertility and preterm labor,” said ObsEva CEO & Co-Founder, Ernest Loumaye, MD, PhD. “We welcome the new investors and look forward to benefiting from their insights and expertise as we continue our commitment to develop novel drugs addressing women’s reproductive health.”

ObsEva has achieved substantial pipeline development in 2015. The company’s product candidate OBE001, an oral oxytocin antagonist, is currently in Phase 2 for preterm labor and a separate Phase 2 study for assisted reproductive technology (ART). OBE002, a first-in-class, oral PGF2α receptor antagonist for preterm labor, will enter the clinic in 2016. ObsEva recently announced the expansion of its pipeline through an exclusive license with Kissei Pharmaceutical Co., Ltd. for OBE2109, an oral gonadotropin-releasing hormone (GnRH) antagonist for endometriosis that recently completed three Phase 2a studies in Japan.

 

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