Ad hoc announcement pursuant to Art. 53 LR of the SIX Swiss Exchange
Geneva, Switzerland - October 27, 2023 - ObsEva SA (SIX: OBSN), a biopharmaceutical company developing novel therapies for women's health, today announced that XOMA will be receiving full worldwide rights on ebopiprant, an investigational, orally active, selective prostaglandin F2a (PGF2a) receptor antagonist, following the termination of the license agreement with Organon.
After positive Phase 2a results in November 2020, ObsEva granted a license to Organon in July 2021 for the global development, manufacturing, and commercial rights to ebopiprant. In November 2022, ObsEva sold and assigned to XOMA all its rights to ebopiprant, including the Company's license agreement with Organon, and the intellectual property estate. In addition to the $15 million received in upfront proceeds from the sale, ObsEva was eligible to receive certain milestones under the license agreement with Organon for ebopiprant. These contingent milestone payments will no longer be available to ObsEva, but the Company will evaluate strategic and partnership options with XOMA.
"We view the termination of the license agreement as a unique opportunity for a company to in-license ebopiprant rights from XOMA and are prepared to leverage ObsEva's expertise in the upcoming months for any purpose that could support ebopiprant further development," said Fabien de Ladonchamps, Chief Executive Officer.
About ObsEva
ObsEva is a biopharmaceutical company developing novel therapies to improve women's reproductive health and pregnancy. ObsEva has established a development program focused on improving in vitro fertilization success rates. ObsEva is listed on the SIX Swiss Exchange where it is traded under the ticker symbol "OBSN". For more information, please visit www.ObsEva.com.
For further information, please contact:
For general information:
contact@obseva.ch
For investors information:
IR@obseva.ch
Attachment
- 2023.10.27 - ObsEva - PR - Ebopiprant_Pdf (https://ml-eu.globenewswire.com/Resource/Download/c6a3ca0b-62b5-4937-ac2b-c210b172563d)
