Publication date: 15/12/2017
Mithra (Euronext Brussels: MITRA), a company specialized in Women’s Health, today announces an agreement with GSP for the injectables section of the Mithra CDMO. The umbrella agreement comprises the development and production of four products. GSP (Generic Speciality Pharma), based in Northern Dublin (Ireland), is a leading player in generic healthcare products. The company, part of the Alter Pharma group, works with 3rd party manufacturers in a large number of geographies and outlicenses its product portfolio to partners worldwide.
Next to a EUR 2.4 million downpayment, the agreement should generate several million euros in annual revenue over the course of the 10-year contracts, pending certain development milestones. Importantly, with the manufacturing of the 4 products, Mithra is well-positioned to receive Good Manufacturing Practice (GMP) approval from the European and the American authorities for its injectables section, which is a key step for the Mithra CDMO and an important advantage for future partnerships.
François Fornieri, CEO of Mithra, commented:
“We are pleased with this first agreement for our injectables section at the Mithra CDMO, and are looking forward to working with GSP on these projects. Since the products are expected to receive GMP accreditation, these contracts should open the door to additional partnerships for the Mithra CDMO.”
About Alter Pharma Group and GSP
Alter Pharma group is a Belgian pharmaceutical agglomerate focused on the development and manufacturing of pharmaceutical products destined for markets worldwide. The group has a highly skilled management, R&D and Business Development team experienced in identifying and developing niche generics, complex generics and added value products. GSP (Generic Specialty Pharma) is Alter Pharma’s pharmaceutical development company based in northern Dublin. GSP works with 3rd Party manufacturers all over the world, all holding valid EU GMP and/or FDA approval, and licenses its products out to clients worldwide.
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 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 CDMO. Mithra was founded in 1999 as a spin-off from the University of Liège by Mr. François Fornieri and Prof. Dr. Jean-Michel Foidart. Mithra is headquartered in Liège, Belgium. Further information can be found at: www.mithra.com