Thursday, October 15, 2020

Evofem Biosciences Scores $25M

San Diego-based Evofem Biosciences, a biopharmaceuticals firm which is developing products to prevent urogenital chlamydia and gonorrhea in women, and which also markets a vaginal contraceptive gel, saysi t has raised $25M in a strategic investment. The publicly held company--which trades on the NASDAQ as EVFM--said the investment came via unsecured convertible promissory notes. The investment came from Adjuvant Capital. The company said the funding goes towards Phase 3 trials of its EVO100 product, and for global marketing of its contraceptive gel.