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ObsEva to raise $60M through private placement

ObsEva SA is looking to raise $60 million in a private placement priced at $8 per share.

The shares will come bundled with prepaid warrants, also exercisable at $8 per share, that expire within 30 days from the date of issue.

The company is looking to raise funds for its product pipeline, including OBE2109 for treating uterine fibroids and endometriosis.

Some of the company's existing investors will take part in the placement, including New Enterprise Associates, New Leaf Venture Partners, Sofinnova Ventures, DAFNA Capital Management, Sphera Global Healthcare Fund and Venrock Healthcare Capital Partners.

Aisling Capital, First Manhattan Co., Ghost Tree Capital and Omega Funds will be investing in the company for the first time.

The placement closes by Oct. 13 with Jefferies and BMO Capital Markets acting as joint placement agents.