WARRINGTON, PA — Windtree Therapeutics, Inc. (NasdaqCM: WINT) has entered a License and Supply Agreement with Evofem Biosciences, Inc. (OTCQB: EVFM) to become the sourcing partner for Evofem’s FDA-approved, hormone-free contraceptive, PHEXXI® (lactic acid, citric acid, and potassium bitartrate). The innovative vaginal gel, which empowers women with an on-demand, prescription-based, non-hormonal contraceptive option, achieved annual revenues of over $19 million in 2024 with more than 96,000 boxes sold.
Under the terms of the agreement, Windtree will leverage its global manufacturing contacts to reduce the product’s cost of goods significantly. Windtree will coordinate production through a third-party manufacturer while Evofem retains ownership of PHEXXI and continues its commercialization efforts in the U.S. and global markets. The anticipated cost reductions are expected to enhance profitability and facilitate PHEXXI’s expansion into price-sensitive international markets.
“Windtree announced our new corporate strategy to become a revenue-generating biotech in January 2025,” said Jed Latkin, CEO of Windtree. “This License and Supply Agreement with Evofem is a first step in our plan to generate profitable revenue to provide value to our stockholders. Using our extensive contacts across the globe, we have engaged with a pharmaceutical manufacturer on the plan to produce PHEXXI. We look forward to this opportunity. We anticipate that our manufacturing partner will work with us as we do the tech transfer and manufacture the initial batches and the validation batches in line with the FDA requirements.”
Evofem CEO Saundra Pelletier underscored the importance of this partnership in expanding the global reach of PHEXXI. “Global expansion of PHEXXI has always been a critical mandate for Evofem, but a significant hurdle has been high manufacturing costs which make commercialization cost-prohibitive in many markets outside of the U.S.,” Pelletier explained. “The meaningful decrease in the per-box cost of PHEXXI that we expect to achieve with Windtree’s assistance should allow Evofem to take PHEXXI into new, price-sensitive global markets where there is great need for non-hormonal contraceptives that women control. Our goal is to empower women; and to have PHEXXI available in all markets around the world is a big step in that direction.”
This new collaboration aligns strategically for both companies. Windtree’s focus on becoming a revenue-generating biotech allows it to capitalize on its global network to drive value creation, while Evofem looks to meet the growing demand for accessible, non-hormonal contraceptive options across international markets. With this partnership, both companies aim to reinforce their commitment to innovation, affordability, and global market reach.
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