Xoma to acquire Ebopiprant License Agreement from Obsevafor $113m..

Xoma, a health care company, agreed to acquire Ebopiprant License Agreement from Obseva, a biopharmaceutical company for $113m. “The sale of the Ebopiprant license agreement both strengthens our immediate financial position, while providing the potential for future upside for shareholders. The transaction marks the successful completion of a restructuring process whereby we have extracted material savings through the assignment of contracts, streamlined our organizational structure, and restructured our debt. With the receipt of the upfront payment, we expect to have more than a year of cash runway and an enhanced strategic position, and we intend to turn the Company’s resources towards nolasiban, a novel, oral oxytocin receptor antagonist being developed to improve clinical pregnancy and live birth rates in women undergoing in vitro fertilization, while also evaluating strategic options to maximize shareholder value. ObsEva retains worldwide, exclusive, commercial rights for nolasiban, except for the People’s Republic of China,” Brian O’Callaghan, ObsEva CEO.