Evofem Biosciences (OTCQB: EVFM), known for its innovations in women’s contraceptive health, has acquired the women’s health specialty business from global pharmaceutical company Lupin Limited. This acquisition includes Solosec®, an FDA-approved single-dose antimicrobial agent that treats two common sexual health infections.
Currently, Evofem markets Phexxi®, a hormone-free, on-demand contraceptive vaginal gel. The company has also secured a License and Supply Agreement with Pharma 1 Drug Store LLC, a private health care company in the UAE, for the rights to Phexxi® in the Middle East.
Jennifer Trowbridge, Senior Counsel at Procopio, led the Solosec® acquisition for Evofem, supported by Mergers & Acquisitions co-leader Paul Johnson. Life Sciences practice co-leader Frank Yang, with Raph Kim’s assistance, managed the complex IP due diligence for the deal. Helen Goldstein, who co-chairs Procopio’s Technology Transactions and Licensing practice and its Life Sciences practice, represented Evofem in the licensing negotiations.
Evofem’s CEO, Saundra Pelletier, commented, “The acquisition aligns with our mission to enhance access to innovative solutions that impact women’s daily lives. This move allows us to fully utilize our commercial infrastructure, strengthen our physician relationships, and re-launch a product with significant growth potential.”
Regarding the Middle East licensing deal, Pelletier added, “This is a key milestone in our strategy to expand and diversify our revenue streams. We are excited to partner with Pharma 1, which is well-positioned to launch Phexxi® and provide women in the UAE and surrounding areas with access to a hormone-free, on-demand birth control option.”
In 2023, Procopio IP Litigation attorneys, including Partners Jeremy Edwards and Steve Maddox, successfully defended Evofem’s patents in a dispute with a generic company’s Abbreviated New Drug Application (ANDA).
