ObsEva, a Swiss-based, specialty biopharmaceutical company, signed a licensing agreement with Merck Serono, the biopharmaceutical division of Germany-based Merck, granting ObsEva worldwide development and commercialization rights to certain Merck Serono compounds for preterm labor. The details of the agreement were not disclosed. The funding will allow ObsEva to undertake the development of these compounds.
MS Ventures, the corporate venture capital fund of Merck Serono, has taken a minority equity stake in the company. Jasper Bos, Ph.D., will represent MS Ventures on ObsEva's board of directors. Rafaèle Tordjman M.D., Ph.D., managing partner at Sofinnova Partners, Jim Healy M.D., Ph.D., general partner at Sofinnova Ventures and Kim Dueholm, Ph.D., partner at Novo, will serve on the board, with Ernest Loumaye M.D., Ph.D., co-founder and chief executive officer of ObsEva.