Monday June 10th 2024


  • On Monday morning, the Tribunal de l'Entreprise of Liège opened bankruptcy proceedings against Mithra Pharmaceuticals SA and appointed trustees

  • Mithra CDMO and Novalon SA entities are not affected by the bankruptcy as they are subject to separate judicial reorganization proceedings

Mithra, a company dedicated to women’s health, today announces that the Tribunal de l'Entreprise of Liège pronounced the opening of the bankruptcy procedure of Mithra Pharmaceuticals SA this morning.

Mithra Pharmaceuticals SA was indeed facing major financial difficulties which prevent it from fulfilling its obligations and no longer had the working capital required to pursue its activities.

As previously announced, Mithra Pharmaceuticals SA had entered into negotiations with Gedeon Richter. Mithra Pharmaceuticals announces today that it continues negotiations with Gedeon Richter relating to the sale to Gedeon Richter of all shares in Neuralis SA and Estetra SRL held by Mithra Pharmaceuticals SA and specific assets of Mithra R&D SA relating to the manufacture of estetrol. It is expected that the transaction would be signed and completed as soon as reasonably possible. The Mithra CDMO and Novalon SA entities are not affected by the bankruptcy as they are subject to separate judicial reorganization proceedings. The judicial protection measures to which they are subject should, subject to the court’s approval, be extended until 30 June 2024. This extension is intended to allow the different parties interested in Mithra CMDO’s assets to continue their due diligence and submit binding offers by mid-month.

The amount to be received from the sale of Neuralis SA and Estetra SRL as well as certain assets of Mithra R&D SA, after deduction of financial debts, will allow to repay some amounts to the creditors as per their legal privilege. As a result, this transaction does not create any value for the shareholders of Mithra Pharmaceuticals SA.

Mithra Pharmaceuticals SA was born of the ambition to significantly improve women's health, Mithra has distinguished itself by the unwavering determination of its employees to push the boundaries of science for the common good. Their research and the progress it heralds will outlive Mithra and will continue under a different banner from now on. We all hope that these efforts will lead to the development of new solutions that will benefit as many people as possible.

The management and Board of Directors would like to thank Mithra's shareholders and partners who have played a decisive role in the scientific advances that Mithra has made possible.