Aditxt and Evofem Biosciences have agreed to merge, creating an alliance focused on accelerating health innovations in women’s healthcare. Both companies believe that the field requires innovative solutions that address the evolving needs of women.
Under the amended agreement, Aditxt will acquire Evofem, with the transaction expected to close in the fourth quarter of 2024. Aditxt will fund Evofem with $3 million by purchasing preferred stock.
Evofem intends to drive revenue growth through various strategies, including increasing sales of its hormone-free contraceptive, Phexxi, and its treatment for sexual health infections, SOLOSEC. The company also aims to acquire complementary assets and license its products internationally to expand its global presence.
Aditxt operates programs in immune, precision, public, and women’s health. The merger with Evofem aligns with its goal of developing and deploying innovative health solutions for women.
This alliance signifies a commitment to addressing unmet needs in women’s healthcare and improving the quality of life for women worldwide. The combined expertise and resources of Aditxt and Evofem position them to make a significant impact in this field.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.