Aditxt, Inc. Enters into Definitive Agreement to Acquire Evofem Biosciences, Inc., Creator of Phexxi, the First and Only FDA-Approved Hormone-Free Contraceptive Gel, to Address Diverse Reproductive Health Needs of Women Globally

Aditxt, Inc. (“Aditxt” or the “Company”) (NASDAQ: ADTX), a company dedicated to discovering, developing, and deploying promising health innovations, and Evofem Biosciences, Inc. (“Evofem”) (OTCQB: EVFM), a pioneer in women’s health, today announced the signing of a definitive agreement (the “Agreement”) under which Aditxt is to acquire Evofem in consideration of the issuance of a combination of common stock and preferred stock, and the assumption of certain senior indebtedness, having an aggregate amount of approximately $100 million (the “Transaction”). Pending a successful Transaction, it will also mark the establishment of a women's health mission within Aditxt's platform, aligning with global healthcare needs.

Revolutionizing Women’s Reproductive Health with Phexxi

Evofem is a commercial-stage women's health company with a strong focus on innovation. Evofem is the creator of the first and only FDA-approved hormone-free contraceptive gel, Phexxi (lactic acid, citric acid, and potassium bitartrate). Phexxi empowers women with a convenient, discreet, and flexible contraception method, putting control in their hands. By allowing on-demand usage within one hour before intercourse, Phexxi addresses a critical need in the United States and global contraception market, offering women greater autonomy over their reproductive health decisions.

Phexxi represents a groundbreaking shift in women's healthcare, offering a non-daily, hormone-free contraceptive choice for the 23 million women who need alternatives to traditional methods in the United States alone. Like male contraception, female contraception should be adaptable to personal needs – not a daily burden, irrespective of actual necessity. This innovation not only challenges the decades-long norm of daily hormonal contraception but empowers women with more personalized healthcare choices. Phexxi is a testament to the urgent need for more focused innovation in women's health, ensuring choices are made for their benefit, not by chance or default.

Aditxt Unlocking Evofem’s Global Potential for Non-Hormonal Contraception

The global need for effective family planning is evident, with nearly 1.1 billion women worldwide desiring contraception, according to the UN Department of Economic and Social Affairs. This demand is mirrored in the significant market growth projections for non-hormonal birth control; Growth Plus Reports highlights an increase from $27.7 billion in 2022 to $52.2 billion by 2031. The success of Phexxi in the U.S., with an 82% approval rate for claims and escalating sales, reflects this rising demand. With Aditxt's acquisition of Evofem, there is an opportunity to leverage this momentum, access untapped markets, and potentially capture a significant global market share. This move is poised to meet commercial objectives and address a crucial aspect of women’s healthcare. The power to decide when to have a family should rest firmly in each woman's hands, aligning with her life choices and aspirations and thus playing a crucial role in shaping her economic and social future.