Biopharmaceutical company ObsEva raised CHF 32 million or EUR 25.6 million in its Series A financing. The round was led by Sofinnova Partners. Sofinnova Ventures and Novo A/S also supported the Geneva-based specialty biopharmaceutical firm. ObsEva is engaged in the business of developing drugs for women's reproductive health, specifically therapies for preterm labor.

ObsEva also concurrently inked a licensing deal with Merck Serono. The latter is the biopharmaceutical unit of Germany-based drugmaker Merck. Under the terms of the agreement, Merck Serono would grant ObsEva the right to develop and commercialize its compounds for preterm labor. In return, Merck Serono's venture capital fund MS Ventures would hold a minority stake in ObsEva. While details of the Merck Serono deal were not given, ObsEva said the proceeds from its Series A round would enable it develop the said compounds.

Managing Partner at Sofinnova Partners Dr. Rafaèle Tordjman, General Partner at Sofinnova Ventures Dr. Jim Healy, Partner at Novo A/S Dr. Kim Dueholm and Dr. Jasper Bos of MS Ventures would be serving on the ObsEva Board of Directors as part of the transaction.