Mithra and Alvogen Sign LSA for Vaginal Contraception Ring in Russia

  • Mithra grants exclusive license for vaginal contraception ring to Alvogen for commercialization in Russia
  • Agreement follows MyringTM licenses1 closed with Mayne Pharma, Gynial and Adamed for the US, Austria and the Czech Republic, respectively
  • Vaginal ring shall be manufactured at Mithra CDMO

Liège, Belgium, 16 March 2018, 05:45 PM – Mithra (Euronext Brussels: MITRA), a company dedicated to Women’s Health, today announced an exclusive license and supply agreement (LSA) with Alvogen for the commercialization in Russia of Mithra’s contraceptive vaginal ring product candidate made of ethylene vinyl acetate copolymers (EVA). Financial details of the agreement were not disclosed.

Under the terms of the agreement, following marketing authorization, Alvogen will have the rights to sell the ring in Russia, a market worth approximately EUR 13m2 . Thanks to the acquisition of a specialized portfolio of Bayer in 2015, Alvogen is a key player in Women’s Health in Russia and Central Eastern Europe, among other therapeutical areas. With the launch of the vaginal ring in Russia, they plan to further increase their footprint in this market segment.

In addition to a downpayment and a milestone payment, Mithra anticipates annual revenues following commercial launch, as Mithra will exclusively manufacture and supply the product to Alvogen from its CDMO3 research and manufacturing center.

In 2017, Mithra already 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 and Adamed for the Austrian and Czech market.

François Fornieri, CEO Mithra Women’s Health: “We are very pleased to announce this new agreement for our vaginal contraceptive ring with Alvogen for Russia. This additional partnership again demonstrates Mithra’s global attractiveness to specialist players, while underlininig our expertise in polymer technology and manufacturing capabilities at our state-of-the art CDMO facility.”

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