Nova A/S also co-led the round, which coincided with ObsEva signing a licensing agreement with Merck’s biopharmaceutical division Merck Serono granting the business worldwide development and commercialisation rights to the latter’s pre-term labour compounds.
Merck Serono’s corporate venture arm MS Ventures has taken a minority stake in ObsEva as part of the deal.
Sofinnova Partners managing partner Rafaèle Tordjman said, “After our initial seed funding that enabled the co-founders to establish the company, we are very enthusiastic about continuing to work with ObsEva.
“The young company benefits from a combination of a highly experienced founding team with a successful track record, and a novel generation of potentially best-in-class proprietary products for preterm labor and additional indications.”
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