ObsEva SA Announces $60.0 Million Private Placement with Existing and New Investors
(Thomson Reuters ONE) -
ObsEva SA /
ObsEva SA Announces $60.0 Million Private Placement with Existing and New
Investors
. Processed and transmitted by Nasdaq Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
Geneva, Switzerland and Boston, MA - 10 October, 2017 - ObsEva SA (NASDAQ:
OBSV), a clinical-stage biopharmaceutical company focused on the development and
commercialization of novel therapeutics for serious conditions that compromise a
woman's reproductive health and pregnancy, today announced that it has entered
into a securities purchase agreement with a group of institutional accredited
investors for the private placement of common shares and prepaid warrants. The
private placement is expected to yield gross proceeds of $60 million, and to
close on or about October 13(th), 2017, subject to the satisfaction of customary
closing conditions.
Investors in the private placement consist of new and existing investors,
including: some of the company's current shareholders New Enterprise Associates
(NEA), New Leaf Venture Partners, Sofinnova Ventures, DAFNA Capital Management,
Sphera Global Healthcare Fund, and Venrock Healthcare Capital Partners, as well
as initial investments from Aisling Capital, First Manhattan Co., Ghost Tree
Capital and Omega Funds.
"We are extremely pleased that this impressive group of biotech investors
supports our efforts to become a leader in the field of women's health and
reproductive medicine," said Ernest Loumaye, CEO and co-founder of ObsEva SA.
Net proceeds from this offering are expected to be used to fund the research and
development of the product candidates in ObsEva's pipeline, including its lead
compound OBE2109, an oral gonadotropin-releasing hormone (GnRH) receptor
antagonist in development for the treatment of uterine fibroids and
endometriosis, as well as working capital and general corporate purposes.
The common shares are priced at $8.00 per share and the prepaid warrants are
immediately exercisable at a price of $8.00 per share and will expire in 30
days.
The securities being issued and sold in the private placement have not been
registered under the Securities Act of 1933, as amended. Accordingly, these
securities may not be offered or sold in the United States, except pursuant to
an effective registration statement or an applicable exemption from the
registration requirements of the Securities Act. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of the securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of such jurisdiction.
Jefferies and BMO Capital Markets acted as joint placement agents for the
offering.
About ObsEva
ObsEva is a clinical-stage biopharmaceutical company focused on the clinical
development and commercialization of novel therapeutics for serious conditions
that compromise a woman's reproductive health and pregnancy. Through strategic
in-licensing and disciplined drug development, ObsEva has established a late-
stage clinical pipeline with development programs focused on treating
endometriosis, uterine fibroids, preterm labor and improving ART outcomes.
ObsEva is listed on The NASDAQ Global Select Market and is trading under the
ticker symbol "OBSV".
Cautionary Note Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical
facts may constitute forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. These statements may be
identified by words such as "believe", "expect", "may", "plan," "potential,"
"will," and similar expressions, and are based on ObsEva's current beliefs and
expectations. These forward-looking statements include expectations regarding
the closing of the private placement and ObsEva's anticipated use of proceeds.
These statements involve risks and uncertainties that could cause actual results
to differ materially from those reflected in such statements. Risks and
uncertainties that may cause actual results to differ materially include
uncertainties inherent in the conduct of clinical trials, ObsEva's reliance on
third parties over which it may not always have full control, and other risks
and uncertainties that are described in the Risk Factors section of ObsEva's
Annual Report on Form 20-F for the year ended December 31, 2016, and other
filings ObsEva makes with the SEC. These documents are available on the
Investors page of ObsEva's website at http://www.obseva.com. Any forward-looking
statements speak only as of the date of this press release and are based on
information available to ObsEva as of the date of this release, and ObsEva
assumes no obligation to, and does not intend to, update any forward-looking
statements, whether as a result of new information, future events or otherwise.
###
Media Contact:
Liz Bryan
Spectrum Science
lbryan(at)spectrumscience.com
+ 1 202-955-6222 x2526
Company Contacts:
CEO Office Contact
Delphine Renaud
delphine.renaud(at)obseva.ch
+41 22-552-1550
Investor Contact:
Mario Corso
Senior Director, Investor Relations
mario.corso(at)obseva.com
+1 781-366-5726
Press release:
http://hugin.info/157613/R/2140870/819927.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ObsEva SA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.10.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 563093
Anzahl Zeichen: 6686
contact information:
Town:
Plan-les-Ouates
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 239 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ObsEva SA Announces $60.0 Million Private Placement with Existing and New Investors"
steht unter der journalistisch-redaktionellen Verantwortung von
ObsEva SA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
