Veru Announces the Sale of the FC2 Female Condom® (Internal Condom) Business
MIAMI, FL, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Veru Inc. (NASDAQ:VERU), a late clinical stage biopharmaceutical company focused on developing innovative medicines for preserving muscle for high quality weight loss, oncology, and viral induced acute respiratory distress syndrome, today announced that it has sold its FC2 Female Condom® (Internal Condom) business to clients managed by Riva Ridge Capital Management LP, a New York City-based investment management firm as well as other co-investors, for $18 million, subject to adjustment as set forth in the purchase agreement. "The monetization of the FC2 business allows Veru to be a pure biopharmaceutical company focusing its additional nondilut
