ObsEva SA’s $60 million Private Placement with Existing and New Investors


NASDAQ listed ObsEva SA has entered into a private investment in public equity (PIPE) transaction with new and existing investors.

The private placement is expected to yield gross proceeds of $60 million, and is 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.

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.

Jefferies and BMO Capital Markets acted as joint placement agents for the offering.

Lenz & Staehelin acts as Swiss counsel to ObsEva SA with a team led by Jacques Iffland (Partner, Corporate and M&A, in picture) and includes associates Danusha Nacht and Ariel Ben Hattar (both Corporate and M&A).

Involved fees earner: Jacques Iffland – Lenz & Staehelin; Danusha Nacht – Lenz & Staehelin; Ariel Ben Hattar – Lenz & Staehelin;

Law Firms: Lenz & Staehelin;

Clients: ObsEva SA;