- Mithra grants license to Labatec for commercialization of vaginal contraceptive ring in Switzerland
- Production of Myring™ at the Mithra CDMO facility in Belgium
- Agreement follows licensing deals with major international market leaders forcommercialization of Myring™
Liege, Belgium, 05 December 2019 – 7 :30 CET – Mithra (Euronext Brussels: MITRA), a company
dedicated to Women’s Health today announces that it has entered into a license and supply agreement
with Labatec for the commercialization of its hormonal contraceptive ring Myring™ in Switzerland.
Under the terms of this agreement, Labatec will distribute Myring™ in Switzerland, where the Swiss
contraceptive rings market is worth EUR 8 million per year(1). Mithra will receive an upfront payment
and recurring revenues based on and agreed licensing model. Moreover, Mithra will manufacture
Myring™ at its Contract Development and Manufacturing Organization facility in Belgium.
Labatec is a privately owned Swiss-based pharmaceutical delivering high quality Swiss registered
products to the Swiss and Middle East North African Markets. Covering both the hospital and retail
sectors, Labatec has a portfolio of over 70 products and a growing geographic footprint. Manufactured
in Europe and approved by Swissmedic medicinal agency, their products represent a trusted Swiss
brand of medicines in multiple therapeutic areas, including women’s health.
To date, Mithra has licensed Myring™ to industry leaders in 15 international markets, including the
United States, Austria, Czech Republic, Russia, Denmark, Chile, Australia/New Zealand, MENA
territories, South America, Germany, Israel, China, Belgium, Luxembourg and Switzerland. Further
contracts are expected to follow in the coming months, including in Europe, where Mithra expects to
have 23 marketing authorizations granted.
François Fornieri, CEO Mithra Women’s Health, commented: “We are pleased to have finalized the
agreement with Labatec for the commercialization of our hormonal contraceptive ring in Switzerland.
We are also delighted to complete our expansion strategy in Europe where our product should be
widely available in pharmacies next year.”
Faisal Darwazeh, CEO Labatec Pharma, commented: “We continue to actively license innovative
European products for the Swiss and MENA markets. We are looking forward to registering and
launching Myring™ in the Swiss market, adding to our growing portfolio of differentiated Women’s
Health products. We look forward to work closely with Mithra on a successful launch”.
For more information, please contact:
Alexandra Deschner (IRO) : +32 490 58 35 23 – email@example.com
Maud Vanderthommen (Press) : +32 473 58 61 04 – firstname.lastname@example.org
Mithra (Euronext: MITRA) is a Belgian biotech company dedicated to transforming Women’s Health by offering
new choices through innovation, with a particular focus on contraception and menopause. Mithra’s goal is to
develop products offering better efficacy, safety and convenience, meeting women’s needs throughout their life
span. Its three lead development candidates are built on Mithra’s unique native estrogen platform, Estetrol (E4):
Estelle®, a new era in oral contraception, PeriNesta®, the first complete oral treatment for perimenopause and
Donesta®, the next-generation hormone therapy. Mithra also develops and manufactures complex therapeutics
in the areas of contraception, menopause and hormone-dependent cancers. It offers partners a complete
spectrum of research, development and specialist manufacturing at its technological platform Mithra CDMO.
Active in more than 85 countries around the world, Mithra has an approximate headcount of 250 staff members
and is headquartered in Liège, Belgium. www.mithra.com
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.
Labatec is a privately owned Pharmaceuticals company based in Geneva Switzerland with operations in
Switzerland, Portugal and Middle East North Africa region. The company is focused on the speciality retail
segment of Muscle skeletal, women’s health, Urology in addition to a wide portfolio of hospital products all
licensed from European and Canadian companies.
The contents of this announcement include statements that are, or may be deemed to be, “forward-looking
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 such forward-looking statements are not guarantees of
future performance. The Company’s actual results may differ materially from those predicted by the forwardlooking statements. The Company undertakes no obligation to publicly update or revise forward-looking
statements, except as may be required by law.
(1) IQVIA 2017