Mithra, a company dedicated to Women’s Health, announces that it has entered into a license and supply agreement (LSA) with Zentiva for the commercialization of its hormonal contraceptive ring Myring™ in France, Poland and the United Kingdom. Based in Czech Republic, Zentiva is a pharmaceutical company with more than 4,700 people and a network of production sites - including flagship sites in Prague, Bucharest, and Ankleshwar.
Under the terms of this 7-year agreement, Zentiva will distribute Myring™ in these three European countries, where the total contraceptive rings market represents nearly EUR 13 million per year1 . 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. This agreement is worth over EUR 2 million for Mithra over the contract period.
To date, Mithra has licensed Myring™ to industry leaders in 34 countries, including the two biggest European markets, Germany and Italy, where the product is already commercialized. To meet the growing demand, the Mithra CDMO has increased its production capacity and is currently manufacturing batches for upcoming European commercial launches in Austria, Denmark and the Netherlands.
François Fornieri, CEO Mithra Women’s Health, commented: “We are pleased to have concluded this agreement with Zentiva for the commercialization of Myring™ in three important European markets. We are proceeding with our commercial roll-out in Europe, where we should soon obtain our two last marketing authorizations to cover 23 countries. Production is on-going at the Mithra CDMO in order to meet an everincreasing demand from our growing number of partners.”