Gedeon Richter Ltd. And Evestra Enter Into Collaboration Agreement

BUDAPEST, Hungary & SAN ANTONIO--(BUSINESS WIRE)--Gedeon Richter Plc. and Evestra Inc. today announced that they have signed a collaboration agreement in which Richter is providing a USD $5 million convertible loan to Evestra. The funds will empower Evestra to accelerate the development of its innovative women’s health product pipeline into clinical stages.

Under the terms of the agreement, after three years Richter has an option to decide whether the loan is to be reimbursed, including earned interest, or converted into an equity stake in Evestra.

About Gedeon Richter

Gedeon Richter Plc. (www.richter.hu), headquartered in Budapest/Hungary, is a major pharmaceutical company in Central Eastern Europe, with an expanding direct presence in Western Europe. Richter’s consolidated sales were approximately EUR 1.1 billion (USD $1.5 billion), while its market capitalization amounted to EUR 2.1 billion (USD $2.5 billion) in 2014. The product portfolio of Richter covers almost all important therapeutic areas, including gynaecology, the central nervous system and cardiovascular areas. Having the largest R&D unit in Central Eastern Europe, Richter’s original research activity focuses on CNS disorders. With its widely acknowledged steroid chemistry expertise, Richter is a significant player in the female healthcare field worldwide. Richter is also active in biosimilar product development.

About Evestra

Evestra, Inc. (www.evestra.com), is a San Antonio, Texas-based biopharmaceutical company engaged in the development of innovative women’s healthcare products. Evestra’s products are based on two platform technologies, medicinal chemistry and vaginal drug delivery technology, and address unmet medical needs in women’s health arenas.