Mithra strengthens its collaboration with UAE1-based ITROM Pharmaceutical Group with a
consolidated deal to generate at least EUR 14 million
Product to be manufactured at Mithra CDMO facility in Belgium
Agreement follows licensing deals for Myring™ with market leaders in the US, Europe,
Russia, Australia and ChileLiège, Belgium, Mithra (Euronext Brussels: MITRA), a companydedicated to Women’s Health, today announces an exclusive 20-years license and supply agreementwith ITROM Pharmaceutical Group (ITROM) for the commercialization of its combined hormonal
contraceptive vaginal ring in the Middle East.
ITROM is a UAE-based Pharma group specializing in breakthrough healthcare, with women’s healthplaced at the forefront of its activities. The aim is to bring innovative and safe alternatives to womenin the areas of fertility, contraception, Hormonal Therapy (HT) and personal care.
Under the terms of the agreement, ITROM will distribute the vaginal ring made of ethylene vinylacetate copolymers (EVA) in MENA territories2 (Saudi Arabia, United Arab Emirates, Bahrain, Kuwait,Qatar, Oman, Lebanon and Jordan) where the hormonal contraceptive market is worth EUR 37.5million. This agreement represents a deal worth at least EUR 6 million over the period.
The Myring™ contract strengthens the partnership between Mithra and ITROM initiated inDecember 2018. At that time, a licensing agreement was signed for two other Mithra products, thehormonal treatment Tibelia® and the contraceptive pill Daphne Continu4. Combined, theseagreements will generate at least EUR 14 million of value to Mithra. By leveraging Mithra’s women’shealth portfolio, ITROM reiterates its confidence in these innovative products, but also in the expertiseand know-how of its R&D and production center, Mithra CDMO, which will manufacture Myring™.
The agreement in the Gulf countries follows a number of licensing deals for Myring™ with market leaders in major territories. In 2017 Mithra announced an exclusive long-term license and supplyagreement with Mayne Pharma for the commercialization of Myring™ in the US, as well as further agreements with Gynial, Adamed, Orifarm, Pasteur Laboratorios and Alvogen in Austria, CzechRepublic, Denmark, Chile and Russia respectively. Due to these agreements Mithra’s polymer basedmanufacturing facility has reached full capacity. The Company is now considering further investment
in its state-of-the-art CDMO to triple manufacturing capacity to meet additional demand.
1 UAE : United Arab Emirates
2 Middle East and North Africa
IQVIA Q3 2017, excluding Bahrain, Qatar and Oman
4 Daphne Continu (21 + 7)
12-02-2019 PRESS RELEASE
François Fornieri, CEO of Mithra Women’s Health, commented: “Our first agreement with ITROM in
December 2018 was the first important step into the MENA market. One month later, we are pleased
to strengthen our partnership with ITROM, emphasizing their confidence in our innovative product, but
also in our state-of-the-art manufacturing facility. We have already concluded agreements on Myring™
in key areas and further contracts are expected to follow in 2019. ”
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Alexandra Deschner (IRO) : +32 490 58 35 23 – email@example.com
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Consilium Strategic Communications
Susan Stuart, Olivia Manser, Melissa Gardiner
+44 2 037 095 700
Mithra (Euronext: MITRA) is dedicated to providing innovation and choice in Women’s Health, with a
particular focus on 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 native 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
The contents of this announcement include statements that are, or may be deemed to be, “forwardlooking statements”. These forward-looking statements can be identified by the use of forward-looking
terminology, including the words “believes”, “estimates,” “anticipates”, “expects”, “intends”, “may”,
“will”, “plans”, “continue”, “ongoing”, “potential”, “predict”, “project”, “target”, “seek” or “should”,
and include statements the Company makes concerning the intended results of its strategy. By their
nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any
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