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Evofem Biosciences Secures $25 Million Strategic Investment from Adjuvant Capital

PUBLIC · EVFMOct 15, 2020

Amount Raised

$25 Million

Round Type

Corporate Round

San DiegoBiotechnology

Description

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.

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Company Information

Company

Evofem Biosciences

Location

12400 HIGH BLUFF DRIVE, SUITE 600

San Diego, California, United States

About

Evofem Biosciences, Inc., (OTCQB: EVFM) is a commercial-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women's sexual and reproductive health. In September 2020, Evofem launched Phexxi, the first and only hormone-free, on-demand, prescription birth control available in the U.S. that women use only when they have sex. In July 2024, Evofem acquired SOLOSEC, an FDA-approved single-dose oral antimicrobial agent for the treatment of two common sexual health infections: trichomoniasis and bacterial vaginosis.

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