ObsEva announces the rejection of moratorium procedures

Ad hoc publication based on Art. 53 LR of the Swiss Stock Exchange SIX

GENEVA, SwitzerlandDecember 19in 2022ObsEva SA (NASDAQ: OBSV; SIX: OBSN), a biopharmaceutical company that develops and commercializes new therapies for women’s health, announced today that the competent court in Geneva, Switzerland approved the Company’s request to lift the moratorium, given that the Company is no longer over-indebted.

The company resolved its over-indebtedness due to the previously announced sale of all of its rights to Ebopiprant to XOMA Corporation (XOMA) for an upfront payment of $15 million. Additionally, ObsEva is eligible to receive future milestone payments of up to approximately $98 million upon achievement of certain development and regulatory goals and sales targets related to the development of Ebopiprant under the license agreement with Organon. In July 2021, ObsEva granted a license to Organon for the global development, manufacturing and commercial rights to Ebopiprant.

“The dismissal of the moratorium proceedings marks a milestone for ObsEva, as we now look ahead to the future development of nolasiban and other strategic options to maximize shareholder value,” said Brian O’Callaghan, CEO of ObsEva. “Having resolved our over-indebtedness and strengthened our financial position through a series of restructuring initiatives in recent months, we are now focusing our resources on nolasiban. Nolasiban has potential as a novel, oral oxytocin receptor antagonist being developed to improve the success rate of in vitro fertilization, for which there is significant unmet global need.”

ObsEva retains worldwide, exclusive, commercial rights to nolasiban, except for the People’s Republic of China, where its partner Yuyuan BioScience plans to initiate a clinical trial following the recent approval of their New Drug Application in China.

About ObsEva
ObsEva is a biopharmaceutical company developing new therapies to improve women’s reproductive health and pregnancy. ObsEva has established a development program aimed at improving the success of in vitro fertilization. ObsEva is listed on the Nasdaq Global Select Market and trades under the ticker symbol “OBSV” and on the SIX Swiss Exchange where it trades under the ticker symbol “OBSN”. For more information visit www.ObsEva.com

Warning regarding forward-looking statements of ObsEva SA

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as such term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe “, “expect”, “may”, “plans”, “potential”, “will” and similar expressions are based on ObsEve’s current beliefs and expectations. These forward-looking statements include statements regarding ObsEve’s plans for the future development of nolasiban and other strategic options to maximize shareholder value and the potential of nolasiban. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in such statements. Risks and uncertainties that could cause actual results to differ materially include uncertainties about ObsEve’s ability to successfully restructure its business, ObsEve’s ability to re-establish compliance with Nasdaq’s continuous listing rules, the conduct of clinical trials and clinical development, including the risk that the results of earlier clinical trials may will not be able to predict the results of later-stage clinical trials, ObsEva’s reliance on third parties over which it may not always have full control, and the capabilities of such third parties, the impact of the ongoing novel coronavirus outbreak and other geopolitical events and other risks and uncertainties described in the Risk Factors section ObsEva’s Annual Report on Form 20-F for the year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on March 10, 2022 , in reports on Form 6-K filed with the SEC on May 17 2022, August 17, 2022 and December 1, 2022 .and other filings ObsE makes with the SEC. These documents are available on the investor page of ObsEva’s website at http://www.ObsEva.com. All forward-looking statements speak only as of the date of this press release and are based on information available to ObsEva as of the date of this release, and ObsEva undertakes no obligation to update or intends to update any forward-looking statements. , whether as a result of new information, future events or otherwise.

For additional information, please contact:

Contact of the CEO’s office
Shauna Dillon

[email protected]
+41 22 552 1550

Contact with the investor
Will Brown
[email protected]
+1 (334) 313-2319

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