(RTTNews) - ObsEva SA (OBSV) announced a strategic relationship with Syneos Health (SYHN) to commercialize linzagolix, an oral GnRH antagonist which is pending regulatory approval in the U.S. and Europe for the treatment of uterine fibroids.
Brian O'Callaghan, CEO of ObsEva, said, "With a leading women's health sales force, Syneos Health is uniquely suited to support our goal of offering relief to women suffering from uterine fibroids."
ObsEva also announced a convertible note financing agreement with certain funds and accounts managed by JGB Management, Inc. which is structured to provide up to $135 million in borrowing capacity, available in nine tranches.
Also, ObsEva's license and supply agreement with Kissei for linzagolix has been amended so that first commercial sales milestones for the EU and the US will now be extended over a 5-year period.
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