Evofem, Orion Biotech Join Forces To Develop Multipurpose Product, Including HIV Prevention

Evofem Biosciences Inc EVFM has collaborated with Orion Biotechnology Canada Ltd to evaluate the compatibility and stability of Orion's OB-002 in Evofem's Phexxi vaginal gel to develop a Multipurpose Prevention Technology (MPT) product candidate for indications including the prevention of HIV in women.

• This collaboration will focus on determining the compatibility and stability of OB-002 in Phexxi and is expected to yield results in Q3 2022. 
• Assuming positive results, the companies will seek government and philanthropic funding for subsequent clinical trials of the MPT vaginal gel product candidate.
• Phexxi is a hormone-free, on-demand prescription contraceptive vaginal gel launched in the U.S. in September 2020. 
• Top-line data is expected from Evofem's pivotal Phase 3 trial to prevent chlamydia and gonorrhea in women in 2H of 2022.
• Price Action: EVFM shares are up 7.39% at $0.41 during the premarket session on the last check Thursday.