Mithra signs license and supply agreement for commercialization of Myring™ in Venezuela
Mithra, a company dedicated to Women’s Health, announces that it has entered into a license and supply agreement (LSA) with Chemical Dampe for the commercialization of its hormonal contraceptive ring Myring™ in Venezuela. Based in Venezuela, Chemical Dampe builds alliances for the health of Venezuelans focused on women's health with advanced technology and high quality products, made inside and outside its borders.
Under the terms of this agreement, Chemical Dampe will distribute Myring™ in Venezuela. Mithra will receive an upfront payment and will be eligible to receive milestone payments and recurring revenues based on minimum annual quantities (MAQ). Moreover, Mithra will manufacture Myring™ at its Contract Development and Manufacturing Organization facility in Belgium.
To date, Mithra has licensed Myring™ to industry leaders in 36 countries, including the three biggest worldwide markets (United States, Germany and Italy) and 6 regions in Latin and South America (Venezuela, Argentina, Chili, Mexico, the Dominican Republic and Paraguay).
François Fornieri, CEO Mithra Women’s Health, commented: “We are very pleased to count Chemical Dampe amongst our global partners. The opportunity to grow the Venezuelan market is great, considering the economic and political turmoil of the past, which had temporarily forced transnational pharmaceutical companies to stop in-country operations. Gynecologists, through the Venezuelan Society of Gynecology, have requested the presence of new brands with advanced technology in the country to serve Venezuelan patients. In parallel to the commercialization of our hormonal contraceptive ring in Europe, and despite the occurrence of the global health pandemic, we continue to pursue the international expansion strategy.”