Evofem Biosciences Files Preliminary Proxy for Stockholder Approval of the Acquisition by Aditxt
Aditxt, Inc. (NASDAQ: ADTX) (“Aditxt” or the “Company”), an innovation platform dedicated to accelerating promising health innovations, today announced that its acquisition target, Evofem Biosciences, Inc. (“Evofem”) (OTCQB: EVFM), today filed a preliminary proxy to seek stockholder approval of transactions contemplated under the Amended and Restated Merger Agreement dated as of July 12, 2024 (the “Merger Agreement”), with Aditxt and Adifem, Inc., a wholly-owned subsidiary of Aditxt (“Adifem”), pursuant to which, and on the terms and subject to the conditions thereof, Adifem will merge with and into Evofem, with Evofem surviving as a wholly owned subsidiary of Aditxt.
Assuming the proposal is approved by Evofem stockholders and other closing conditions are met, including but not limited to the Company raising sufficient capital to fund its obligations at closing, the companies are targeting closing the transaction in the fourth quarter of 2024. No assurance can be provided that all of the conditions to closing will be obtained or satisfied or that either of the transactions will ultimately close.
About Evofem Biosciences, Inc.
Evofem is commercializing innovative products to address unmet needs in women's sexual and reproductive health. The Company's first FDA-approved product, Phexxi (lactic acid, citric acid and potassium bitartrate) , is a hormone-free, on-demand prescription contraceptive vaginal gel. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each act of sex. In July 2024, Evofem broadened its commercial offering with the acquisition of SOLOSEC (secnidazole) 2g oral granules , an FDA-approved oral antibiotic for the treatment of two sexual health diseases: bacterial vaginosis (BV), a common vaginal infection in females 12 years of age and older, and trichomoniasis, a common sexually transmitted infection (STI), in people 12 years of age and older. SOLOSEC provides a complete course of therapy in just one dose.
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Phexxi and SOLOSEC are registered trademarks of Evofem Biosciences, Inc.
About Aditxt, Inc.
Aditxt, Inc. is an innovation platform dedicated to accelerating promising health innovations. Aditxt’s ecosystem of research institutions, industry partners, and shareholders collaboratively drives their mission to "Make Promising Innovations Possible Together." The innovation platform is the cornerstone of Aditxt’s strategy, where multiple disciplines drive disruptive growth and address significant societal challenges. Aditxt operates a unique model that democratizes innovation, ensures every stakeholder’s voice is heard and valued, and empowers collective progress.