Mithra (Euronext Brussels: MITRA), a company dedicated to Women’s Health, today announced a non-exclusive, 10-year license and supply agreement with Gynial GmbH, for the commercialization of MyringTM, Mithra’s combined hormonal contraceptive vaginal ring made of ethylene vinyl acetate copolymers (EVA), in Austria. Gynial, an expert in Women’s Health, is the market leader in contraceptives in Austria. Financial details of the agreement were not disclosed.
Under the terms of the agreement, Gynial will have the rights to sell MyRingTM in Austria, a market worth approximately EUR 2.5m1. Mithra will exclusively manufacture and supply the product to Gynial from its CDMO2 research and manufacturing center. In addition to an upfront payment and future milestones Mithra anticipates annual revenues following commercial launch of MyRingTM, which is expected in Q4 2018.
In February, Mithra announced an exclusive long-term license and supply agreement with Mayne Pharma, a leading specialty pharmaceutical company, for the commercialization of Myring™ in the US.
François Fornieri, CEO Mithra Pharmaceuticals: “Following the US agreement for MyringTM with Mayne Pharma, we are very pleased to announce this second agreement with Gynial for the Austrian market. This new partnership – our first licensing agreement for MyringTM in Europe – further demonstrates Mithra’s global attractiveness to specialist Women’s Health players, while underlininig our expertise in polymer technology and manufacturing capabilities at our state-of-the art CDMO facility. Gynial is an excellent partner with whom we look forward to working with to commercialize our vaginal ring in the Austrian market.”
Gynial is an Austrian pharmaceutical company founded in 2007. The company has a key focus on Women’s Health, and on contraception in particular. The company is market leader for oral contraceptives on the Austrian market.
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 non-biodegradable, 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.