- Organon & Co (NYSE:OGN) will license the global development, manufacturing, and commercial rights to ObsEva SA's (NASDAQ:OBSV) ebopiprant (OBE022) for preterm labor.
- Ebopiprant is a selective prostaglandin F2α (PGF2α) receptor antagonist being evaluated as a potential treatment for preterm labor by reducing inflammation and uterine contractions.
- Under the terms of the agreement, ObsEva will receive tiered double-digit royalties on commercial sales and up to $500 million in upfront and milestone payments.
- Organon will pay $25 million at signing, up to $90 million in development and regulatory milestones, and up to $385 million in sales-based milestones.
- Goldman Sachs acted as an exclusive financial advisor to ObsEva.
- Price Action: OBSV shares are up 28.2% at $3.23 during the premarket session on the last check Tuesday, while OGN shares closed at $29.66 on Monday.
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