ObsEva, a Geneva, Switzerland-based biopharmaceutical company developing a novel generation of drugs addressing serious conditions compromising pregnancy from conception to birth, closed a CHF60 (US$60m) Series B equity financing.
Backers included new investors HBM Healthcare Investments, New Enterprise Associates (NEA), OrbiMed, Rock Springs Capital as well as existing investors Sofinnova Partners, Sofinnova Ventures, Novo Ventures and MS Ventures. In conjunction with the financing, Ed Mathers from NEA will join ObsEva’s Board of Directors.
The company intends to use the funds to progress its late-stage pipeline of novel, oral treatments for women’s reproductive health conditions.
Led by CEO & Co-Founder, Ernest Loumaye, MD, PhD, ObsEva is a clinical stage biopharmaceutical company focusing on the development of a novel generation of drugs addressing serious conditions compromising pregnancy from conception to birth. Its lead programs target the underserved problems of endometriosis, infertility and preterm labor affecting more and more women worldwide.
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, an 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.