ObsEva Announces Application for a Moratorium to Facilitate Pivotal Deals

Rhea-AI Summary

ObsEva SA (SIX: OBSN) seeks a moratorium from the competent court in Geneva, Switzerland to protect its financial position and focus on negotiations and conclusions of deals that could impact its trajectory. Dr. Ernest Loumaye intends to secure funding for operational expenditures until the completion of ongoing business development and financing discussions. The company aims to ensure the seamless continuity of its operations and maximize potential benefits from the opportunities under discussion.

Ad hoc announcement pursuant to Art. 53 LR of the SIX Swiss Exchange

Geneva, Switzerland – November 30, 2023 – ObsEva SA (SIX: OBSN), a biopharmaceutical company developing novel therapies for women's health, today announced that, following a comprehensive assessment of the company's financial position, the Board of Directors has opted to seek a moratorium from the competent court in Geneva, Switzerland. The moratorium, if granted, will provide essential protection, enabling the company to focus on negotiations and conclusions of deals that could significantly impact its trajectory.

Dr. Ernest Loumaye, MD, PhD, Co-Founder and Chairman of the Board of Directors, intends to secure funding for ObsEva's operational expenditures until the anticipated completion of one of the several advanced ongoing business development and financing discussions in the upcoming months. This financial strategy is designed to ensure the seamless continuity of the Company's operations.

“Important strides have been accomplished in our business development and financing endeavors over the past few months.” said Fabien de Ladonchamps, Chief Executive Officer. “The sought-after court protection, coupled with the invaluable financial support from Ernest, positions us favorably to secure the time needed to actively negotiate and finalise the most advantageous deals for ObsEva and its shareholders. This strategic move is aimed at maximizing the potential benefits from the various opportunities currently under discussion.”

“I’m pleased to keep supporting ObsEva as we get closer to completing deals that will allow to resume Nolasiban development, and to unlock its potential to increase live birth rate for women undergoing IVF, a significant unmet medical need” said Ernest Loumaye, Co-Founder and Chaiman of the Board of Directors.

ObsEva appreciates the support of its stakeholders as it embarks on this strategic initiative and remains steadfast in its dedication to advancing women's health through innovative therapies.

About ObsEva

ObsEva is a biopharmaceutical company developing novel therapies to improve women’s reproductive health and pregnancy. ObsEva has established a development program focused on improving in vitro fertilization success rates. ObsEva is listed on the SIX Swiss Exchange where it is traded under the ticker symbol “OBSN”. For more information, please visit www.ObsEva.com.

For further information, please contact:

For general information:                                For investors information:
contact@obseva.ch                                         IR@obseva.ch

###

Attachment

• 2023.11.30_ObsEva - PR - Moratorium

FAQ

What is ObsEva SA's ticker symbol?

The ticker symbol for ObsEva SA is SIX: OBSN.

Why is ObsEva seeking a moratorium from the court in Geneva, Switzerland?

ObsEva is seeking a moratorium to protect its financial position and focus on negotiations and conclusions of deals that could impact its trajectory.

Who is securing funding for ObsEva's operational expenditures?

Dr. Ernest Loumaye, Co-Founder and Chairman of the Board of Directors, intends to secure funding for ObsEva's operational expenditures.

What is the aim of ObsEva's financial strategy?

The aim of ObsEva's financial strategy is to ensure the seamless continuity of the company's operations and maximize potential benefits from the opportunities under discussion.

What is the focus of ObsEva's business development and financing discussions?

ObsEva's business development and financing discussions focus on completing deals that will allow the company to resume Nolasiban development and unlock its potential to increase live birth rate for women undergoing IVF, a significant unmet medical need.