ObsEva (OBSV) announced that the competent court in Geneva, Switzerland has granted the Company’s request to withdraw its moratorium considering that the Company is no longer over-indebted. The Company resolved its over-indebtedness due to the previously announced sale of all its rights to Ebopiprant to XOMA Corporation (XOMA) for an upfront payment of $15M. Additionally, ObsEva is eligible to receive future milestone payments of up to approximately $98M upon the achievement of certain development and regulatory milestones and sales milestones relating to the development of Ebopiprant under a license agreement with Organon (OGN). In July 2021, ObsEva granted a license to Organon for the global development, manufacturing, and commercial rights to Ebopiprant. ObsEva retains worldwide, exclusive, commercial rights for nolasiban, except for the People’s Republic of China, where its partner Yuyuan BioScience plans to initiate a clinical trial following the recent approval of their Investigational New Drug application in China.
Published first on TheFly
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