ObsEva, a Switzerland-based developer of drugs to treat serious pregnancy-related conditions, closed a CHF60m ($59m) series B round yesterday featuring corporate venturing subsidiaries of pharmaceutical firms Merck Serono and Novo.
The corporate units, Novo Ventures and MS Ventures, invested alongside HBM Healthcare Investments, New Enterprise Associates, OrbiMed, Rock Springs Capital, Sofinnova Ventures and Sofinnova Partners.
ObsEva is developing drug candidates that include an oral oxytocin antagonist in phase 2 studies for preterm labour and assisted reproductive technology, while another preterm labour treatment is expected to reach the clinical stage in 2016.
The company previously raised $34.4m in a 2013 series A round backed by Novo, Sofinnova Partners and Sofinnova Ventures, closed around the same time as Merck Serono took a stake in the company as part of a licensing deal.
Ernest Loumaye, ObsEva’s co-founder and CEO, said: “This significant financing and the quality of the investors affirm that ObsEva is leading the field through our development expertise in high-value, oral treatments for endometriosis, infertility and preterm labour.
“We welcome the new investors and look forward to benefiting from their insights and expertise as we continue our commitment to develop novel drugs addressing women’s reproductive health.”
Leerink Partners acted as financial advisor for the series B round.