Evofem Biosciences Inc (NASDAQ: EVFM) Receives Patent Covering Composition of Matter of Phexxi from the USPTO

Evofem Biosciences Inc (NASDAQ: EVFM) has received a Notice of Allowance from the US Patent and Trademark Office  for a patent application non 16/738868 titled, “Compositions and Methods for Enhancing the Efficacy of Contraceptive Microbicides.” The patent covers the matter composition of Pexxi and will offer protection until 2033.

Evofem granted exclusive rights for Phexxi in the US

With the granting of the patent, Evofem will have exclusive rights in the United States to create, procure the creation of, market, and distribute for commercial reasons the combination of matter that makes up Phexxi.

CEO of Evofem  Saundra Pelletier, “We are pleased to receive this new patent, which further builds on our composition of matter protection and while already well-protected by more than 40 patents, this allowance further solidifies the investment Evofem has made in creating Phexxi and providing it to women across the United States. This patent allowance is a clear nod to the innovation Phexxi brings to contraception and a woman’s ability to protect herself from unintended pregnancies.”

Phexxi is the company’s first FDA-approved hormone-free product, available on prescription-only contraceptive vagina gel. It is used between 0 and 60 minutes prior to each act of sex and arrives in a box with 12 pre-filled applicators. Topline results from the registrational Phase III EVOGUARD study testing Phexxi for prevention of gonorrhea and chlamydia in ladies- two potential additional indications—are anticipated in the second half of 2022.

Evofem signs agreement with PBM for Phexxi

The company also signed an agreement with a leading pharmacy benefit manager (PBM) to ensure most ladies are covered to fill their Phexxi prescriptions to prevent pregnancies without restrictions like step therapy or previous authorization.

By removing current obstacles, this new arrangement enables women in the United States who are covered by this plan to instantly complete their Phexxi prescriptions.

Evofem estimates that eliminating the prior authorization procedure for this PBM, beginning on July 1, 2022, will result in savings of about $400,000 through the end of this year and nearly to $1 million annually.