ObsEva, a Geneva, Switzerland-based biopharmaceutical company dedicated to the development of innovative drugs for women’s reproductive medicine, closed a CHF32m (approximately €25.6m) Series A financing round.
The round was led by Sofinnova Partners, and co-led by Sofinnova Ventures and Novo A/S. MS Ventures, the corporate venture capital fund of Merck Serono has taken a minority equity stake in the company and Jasper Bos, PhD, will represent MS Ventures on the board along with Rafaèle Tordjman MD, PhD, Managing Partner at Sofinnova Partners, Jim Healy MD, PhD, General Partner at Sofinnova Ventures, and Kim Dueholm, PhD, Partner at Novo A/S.
The funding will allow ObsEva to undertake the development of these compounds.
Concurrently, ObsEva signed a licensing agreement with Merck Serono, the biopharmaceutical division of Merck KGaA, Darmstadt, Germany, under which Merck Serono will grant the company worldwide development and commercialization rights to certain Merck Serono compounds in the field of preterm labor.
ObsEva was founded in November 2012 by Ernest Loumaye MD, PhD, CEO, and André Chollet, PhD.