New York, October 08, 2024 - PRISM MarketView - Aditxt, Inc. (ADTX), an innovative platform dedicated to accelerating health outcomes and Evofem Biosciences, Inc. (EVFM), women’s health focused company have announced the completion of the Third Parent Equity Investment under the Amended and Restated Merger Agreement. The aim of this investment is to bolster the companies’ strategy and collaboration as they expand access to global healthcare solutions for women.
As part of the agreement, Aditxt has purchased 460 shares of Evofem Series F-1 Convertible Preferred Stock for a total purchase price of $460,000. Aditxt’s previous investments in Evofem equate to $1.7M in aggregate. Aditxt intends to complete the required Fourth Parent Equity Investment by October 31,2024 by purchasing an additional 2,280 shares of Evofem Preferred Stock for $2.28M.
Evofem has diversified its women’s health offerings with a focus on prevention treatment and monitoring to include an FDA-approved hormone-free contraceptive gel and an FDA-approved single-dose oral antibiotic to treat bacterial vaginosis and trichomoniasis. The company plans to launch an endometriosis test, which uses a novel mitochondrial DNA biomarker to provide earlier and more accurate monitoring and diagnosis, in the US in mid-2025.
“We believe that women’s health must remain in the hands of those committed to making a meaningful impact. With our stakeholders’ support, we believe that following closing Evofem, we can continue to build on its recent progress and drive its mission to provide innovative healthcare solutions for women. Our platform has the potential to strengthen Evofem’s ability to expand access to essential products and improve women’s health globally.”
Evofem
About Aditxt, Inc.
Aditxt, Inc.® is an innovation platform dedicated to accelerating promising health innovations. Aditxt’s ecosystem of research institutions, industry partners, and shareholders collaboratively drives their mission to “Make Promising Innovations Possible Together.” The innovation platform is the cornerstone of Aditxt’s strategy, where multiple disciplines drive disruptive growth and address significant societal challenges. Aditxt operates a unique model that democratizes innovation, ensures every stakeholder’s voice is heard and valued and empowers collective progress.
Aditxt currently operates two programs focused on immune health and precision health. The Company plans to introduce two additional programs dedicated to public health and women’s health. For these, Aditxt has entered into an Arrangement Agreement with Appili Therapeutics Inc. (“Appili”) (TSX: APLI; OTCPink: APLIF), which focuses on infectious diseases, and a Merger Agreement with Evofem Biosciences, Inc. (OTCQB: EVFM). Each program will be designed to function autonomously while collectively advancing Aditxt’s mission of discovering, developing, and deploying innovative health solutions to tackle some of the most urgent health challenges. The closing of each of the transactions with Appili and Evofem is subject to the successful satisfaction of several closing conditions, including but not limited to approval of the transactions by the respective target shareholders and Aditxt raising sufficient capital to fund its obligations at closing of each of the transactions. No assurance can be given that all of the conditions to closing will be obtained or satisfied or that either of the transactions will ultimately close.
For more information, www.aditxt.com.
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About Evofem Biosciences
Evofem Biosciences, Inc. is commercializing innovative products to address unmet needs in women’s sexual and reproductive health. The Company’s first FDA-approved product, Phexxi® (lactic acid, citric acid, and potassium bitartrate), is a hormone-free, on-demand prescription contraceptive vaginal gel. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each act of sex. Learn more at phexxi.com and evofem.com.
In July 2024 Evofem broadened its commercial offering with SOLOSEC® (secnidazole) 2g oral granules, an FDA-approved oral antibiotic for the treatment of two sexual health diseases: trichomoniasis, a common sexually transmitted infection (STI), in people 12 years of age and older and bacterial vaginosis (BV), a common vaginal infection, in females 12 years of age and older. SOLOSEC provides a complete course of therapy in just one dose.
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Phexxi® and SOLOSEC® are registered trademarks of Evofem Biosciences, Inc.
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