Evofem Biosciences Secures $25 Million Strategic Investment from Adjuvant Capital
10/15/20, 12:25 PM
Location
san diegoMoney raised
$25 million
Industry
biotechnology
Evofem Biosciences, Inc., (NASDAQ: EVFM) announced today that it has sold $25 million of unsecured convertible promissory notes to funds affiliated with Adjuvant Capital, LP ("Adjuvant Capital"). The notes are convertible into shares of Evofem common stock at a conversion price of $3.65 per share. Proceeds from the sale of the notes will be used to support EVOGUARD, Evofem's planned Phase 3 clinical trial of EVO100 for the prevention of urogenital chlamydia and gonorrhea in women, and to expand global market access for Phexxi™ (lactic acid, citric acid, potassium bitartrate) vaginal contraceptive gel.
Company Info
Location
7770 regents road
san diego, california, united states
Additional Info
SOLOSEC is a commercially attractive, single-dose oral antibiotic FDA-approved to treat bacterial vaginosis and trichomoniasis, two common sexual health infections. The company was acquired by Evofem Biosciences, Inc. to strengthen its portfolio of women's sexual health products.