Aditxt, Inc., a company focused on driving health innovations, has reached a significant milestone in acquiring Evofem Biosciences, Inc., a women’s health company. This milestone involved Aditxt purchasing $2.28 million of Evofem’s convertible preferred stock, marking the final investment agreed upon in their merger agreement.
The acquisition, contingent on approval from Evofem stockholders and other closing conditions, will result in Evofem becoming a wholly-owned subsidiary of Aditxt. This move is anticipated to position Evofem as a leading force in global women’s health, focusing on advancements in treatment, prevention, and diagnostics.
The completion of this acquisition relies on several factors, most importantly shareholder approval from both companies and Aditxt successfully raising an estimated $17 million to cover associated costs, including the repayment of Evofem’s Senior Secured Note. It is important to note that while Evofem is currently disputing a notice of default received regarding the note, there is no guarantee the acquisition will be finalized.
To discuss the acquisition and future plans, a Virtual Fireside Chat will be held, featuring key figures from both Aditxt and Evofem. Dr. Drew Pinsky will moderate the chat and will provide insights into the post-acquisition strategy.
Evofem Biosciences is known for developing innovative products addressing unmet needs in women’s sexual and reproductive health. Their portfolio includes Phexxi®, a hormone-free, on-demand contraceptive gel, and SOLOSEC®, a single-dose oral antibiotic for treating bacterial vaginosis and trichomoniasis.
Aditxt, through its unique platform, connects research institutions, industry partners, and shareholders to foster rapid progress in healthcare solutions. The company operates programs focused on immune and precision health, with plans to expand into public health and women’s health through the acquisitions of Appili Therapeutics, Inc. and Evofem Biosciences, Inc.
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.
