Publication date: 27/12/2017
Mithra (Euronext Brussels: MITRA), a company dedicated to Women’s Health, today announced a non-exclusive, 10-year license and supply agreement with Adamed Group (Adamed), for the commercialization of MyringTM, Mithra’s combined hormonal contraceptive vaginal ring made of ethylene vinyl acetate copolymers (EVA), in the Czech Republic. Adamed is a Polish pharmaceutical and biotechnology company with a focus on gynaecology. Financial details of the agreement were not disclosed.
Under the terms of the agreement, Adamed will have the rights to sell MyringTM in the Czech Republic, a market worth approximately EUR 1.3m1 . Mithra will exclusively manufacture and supply the product to Adamed from its CDMO2 research and manufacturing center. In addition to an upfront fee and a milestone payment, Mithra anticipates annual revenues following commercial launch of MyRingTM, which is expected in H2 2018.
Earlier this year, Mithra announced an exclusive long-term license and supply agreement with Mayne Pharma for the commercialization of Myring™ in the US, as well as an agreement with Gynial for the Austrian market.
François Fornieri, CEO Mithra Women’s Health:
“Following the contracts with Mayne and Gynial, we are very pleased to announce this third agreement for Myring™ with Adamed for the Czech market. This new partnership again demonstrates Mithra’s global attractiveness to specialist biopharma players, while underlininig our expertise in polymer technology and manufacturing capabilities at our state-of-the art CDMO facility.”
About Adamed Group
Adamed Group (Adamed) is a Polish pharmaceutical and biotechnology company founded in 1986. The company is primarily focused on developing, manufacturing and marketing generic pharmaceutical products. Adamed is present in 60 countries, with gynaecology as one of the key therapeutic areas.
Myring™ is developed to be a generic of Nuvaring® vaginal ring, still under patent protection up to April 2018 both in the US and in EU. Myring™ (etonogestrel/ethinyl estradiol vaginal ring) is a nonbiodegradable, 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.
Mithra (Euronext: MITRA) is dedicated to providing innovation and choice in women's health, with a particular focus on fertility, contraception and menopause. Mithra's goal is to develop new and improved products that meet women's needs for better safety and convenience. Its two lead development candidates - a fifth generation oral contraceptive, Estelle®, and a next generation hormone therapy, Donesta®- are built on Mithra's unique natural estrogen platform, E4 (Estetrol). Mithra also develops, manufactures and markets complex therapeutics and offers partners a complete spectrum of research, development and specialist manufacturing at its Mithra CDMO. Mithra was founded in 1999 as a spin-off of the University of Liège by Mr. François Fornieri and Prof. Dr. Jean-Michel Foidart and is headquartered in Liège, Belgium. Further information can be found at: www.mithra.com