EVOFEM, Inc., a La Jolla, San Diego, CA-based women’s healthcare company, has announced that it has recently received a $25m investment from an undisclosed private equity firm in Europe.
EVOFEM currently markets feminine hygiene products and is developing technologies in the field of women’s reproductive health. Its lead drug candidate, Amphora, is being evaluated as a microbicide to protect women from pregnancy and a variety of sexually transmitted diseases including the AIDS virus.
The company will use the proceeds from the investment to accelerate the commercialization of Amphora.
Commenting on the financing EVOFEM CEO, Joe Pike, was reported as saying: “This investment is a significant step in EVOFEM’s growth. We will now be able to proceed with a program we have been developing with Médecins Sans Frontières to get Amphora into the hands of women who need it in Africa. “We are excited about our momentum and the potential impact our technology will have on the AIDS pandemic worldwide”, he added.
EVOFEM also added Dr. Kenneth Herbst, former Deputy Surgeon General of the Army for Reserve Affairs and a professor of medicine at UCSD, to the company’s medical advisory board.