Mithra, a company dedicated to Women’s Health today announces that it has entered into a license and supply agreement (LSA) with Gynial GmbH for the commercialization of its hormonal contraceptive ring Myring™ in Switzerland.
Under the terms of this agreement, Gynial will distribute Myring™ in Switzerland, where the Swiss contraceptive rings market is worth EUR 8 million per year. Mithra will receive an upfront payment and recurring revenues based on an agreed licensing model. Moreover, Mithra will manufacture Myring™ at its Contract Development and Manufacturing Organization facility in Belgium. This LSA is the second agreement signed with Gynial, following the one entered in 2017 for the commercialization of Myring™ in Austria. Gynial is an Austrian pharmaceutical company founded in 2007 with a key focus on Women’s Health, and on contraception in particular.
To date, Mithra has licensed Myring™ to industry leaders in 31 countries, including the three biggest worldwide markets (United States, Germany and Italy). After the successful launch in Czech Republic, Belgium, Luxemburg and Germany, other launches should follow in Europe where Mithra has already obtained 21 out of 23 marketing authorizations. To meet the growing demand, the Mithra CDMO has increased its production capacity to nearly two million rings in 2020. From the beginning of the health crisis caused by Covid-19, Mithra has managed to maintain the production and supply of Myring™ on track, in compliance with all the measures required by the Belgian authorities while ensuring the safety of its collaborators
François Fornieri, CEO Mithra Women’s Health, commented: “We are pleased to have finalized this second agreement with Gynial, an excellent partner with whom we look forward to working with to commercialize our vaginal ring in both Swiss and Austrian markets. In this first half of the year marked by the Covid-19, we have worked very hard to ensure the pursuit of our activities, both in terms of R&D, production and financial management. All discussions and negotiations with potential commercial partners are currently being actively pursued and do not seem to be impacted in any way by the health crisis. This demonstrates a strong interest in our innovative products and solid confidence in their potential in the growing women’s health market.”
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Christophe Maréchal (Investors) : +32 495 55 14 78 – email@example.com
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Mithra (Euronext: MITRA) is a Belgian biotech company dedicated to transforming Women’s Health by offering new choices through innovation, with a particular focus on contraception and menopause. Mithra’s goal is to develop products offering better efficacy, safety and convenience, meeting women’s needs throughout their life span. Its three lead development candidates are built on Mithra’s unique native estrogen platform, Estetrol (E4): Estelle®, a new era in oral contraception, PeriNesta®, the first complete oral treatment for perimenopause and Donesta®, the next-generation hormone therapy. Mithra also develops and manufactures complex therapeutics in the areas of contraception, menopause and hormone-dependent cancers. It offers partners a complete spectrum of research, development and specialist manufacturing at its technological platform Mithra CDMO. Active in more than 100 countries around the world, Mithra has an approximate headcount of 250 staff members and is headquartered in Liège, Belgium. www.mithra.com
Myring™ (etonogestrel/ethinyl estradiol vaginal ring) is a non-biodegradable, flexible, transparent, combination contraceptive vaginal ring, with an outer diameter of 54 mm and a cross-sectional diameter of 4 mm. It is made of ethylene vinylacetate copolymers, and contains 11.7 mg etonogestrel and 2.7 mg ethinyl estradiol. When placed in the vagina, each ring releases, in line with the originator (Nuvaring®), on average 0.120 mg/day of etonogestrel and 0.015 mg/day of ethinyl estradiol over a three-week period of use. The ring is to remain in place continuously for three weeks. It is removed for a one-week break, during which a withdrawal bleed usually occurs. A new ring is inserted one week after the last ring was removed.
The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes", "estimates," "anticipates", "expects", "intends", "may", "will", "plans", "continue", "ongoing", "potential", "predict", "project", "target", "seek" or "should", and include statements the Company makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The Company's actual results may differ materially from those predicted by the forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.