ADTX - InvestorNewsBreaks - Evofem Biosciences Inc. (EVFM) Inks Middle East License Supply Agreement for Proprietary Birth Control Product
Evofem Biosciences Inc. (OTCQB: EVFM), a company commercializing innovative products to address unmet needs in women's sexual and reproductive health, has signed a license and supply agreement for the Middle East rights to Phexxi(R), Evofem's FDA-approved, hormone-free contraceptive, with private Emirati health care company Pharma 1 Drug Store LLC. Evofem and Aditxt (NASDAQ: ADTX), a company dedicated to discovering, developing and deploying promising health innovations, entered into a merger agreement with an anticipated Sept. 2024 closing. According to the Evofem/Pharma 1 agreement, Pharma 1 will obtain and maintain regulatory approvals required to market and sell Phexxi and will also manage the distribution, sales and marketing, pharmacovigilance and other commercial functions required in these countries. Pharma 1 is planning to file UAE regulatory submission for Phexxi as a hormone-free contraceptive this year.The only locally acting contraceptive gel approved by the U.S. Food and Drug Administration (“FDA”), Phexxi is applied before intercourse, maintaining the normal vaginal microbiome with a pH that is naturally inhospitable to sperm as well as certain viral and bacterial pathogens. “The Phexxi licensing agreement for the Middle East is an important milestone as we continue to execute Evofem's strategy to expand and diversify our revenue stream,” said Evofem CEO Saundra Pelletier in the press release. “We are delighted to partner with Pharma 1, which is uniquely positioned to launch the product and provide women in the UAE and surrounding region with access to hormone-free, nonsystemic birth control that they control and use on demand, only when needed.”
To view the full press release, visit https://ibn.fm/K3OYP
About Evofem Biosciences
Evofem Biosciences is commercializing innovative products to address unmet needs in women's sexual and reproductive health. The company's first FDA-approved product, Phexxi(R) (lactic acid, citric acid and potassium bitartrate), is a hormone-free, on-demand prescription contraceptive vaginal gel. It comes in a box of 12 prefilled applicators and is applied 0–60 minutes before each act of sex. In December 2023, Evofem entered into a merger agreement with Aditxt under which Aditxt intends to acquire Evofem. The parties amended and restated the merger agreement in July 2024 . The companies are targeting a Sept. 30, 2024, closing. For more information about the company, please visit www.Evofem.com.
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