Mithra (Euronext Brussels: MITRA), a company dedicated to Women’s Health, announces that it has entered into a license and supply agreement with Saval Pharmaceuticals to commercialize Tibelia® in Chile.
Liege, Belgium, 05 March 2019 – 7 :30 CET – Mithra (Euronext Brussels: MITRA), a company dedicated to Women’s Health, announces that it has entered into a license and supply agreement with Saval Pharmaceuticals to commercialize Tibelia® in Chile.
Tibelia® is a bioequivalent version of tibolone (Livial® - Merck) developed by Mithra for use in hormone therapy. Tibolone is a synthetic steroid that relieves postmenopausal symptoms and prevents osteoporosis in postmenopausal women at high risk of future fractures who are intolerant of, or contraindicated for, other medicinal products.
Saval Pharmaceuticals, a leading pharmaceutical company based in Chile, offers a wide range of innovative and high quality pharmaceutical products to various countries in Latin America, designed to improve public health outcomes. Under the terms of the 7-year agreement, Saval will distribute Tibelia® in Chile, which has a tibolone market worth approximately EUR 3.2 million per year.[1]
In September 2018, Mithra signed a partnership with Laboratorio Pasteur for the commercialization of its vaginal contraceptive ring Myring™ in Chile. Accounting for EUR 5.8 million[2], the contraceptive ring market has grown 18% between 2016 and 2017. The additional partnership for Tibelia® in Chile, further strengthens Mithra’s position in this growing women’s health market.
To date Mithra has entered licensing agreements for Tibelia® in ten countries and continues its expansion strategy in commercially attractive markets. Already present in Spain, Mithra and its distribution partner Procare Health, have just won an additional public tender process for Tibelia®, which further increases sales estimations for the Spanish market.
François Fornieri, CEO of Mithra Women’s Health, commented: “We are pleased to have formed a partnership with Saval Pharmaceuticals for the commercialization of Tibelia® in Chile. A few months following the Myring™ deal, Mithra is present with two key products in the fast-growing Chilean women’s health market. This agreement with Saval is part of a broader strategy to identify the best possible partners to maximize the potential of Tibelia® and our portfolio of promising women’s health products around the world.”
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For more information, please contact:
Alexandra Deschner (IRO) : +32 490 58 35 23 - investorrelations@mithra.com
Maud Vanderthommen (Press) : +32 473 58 61 04 – press@mithra.com
Consilium Strategic Communications
Susan Stuart, Olivia Manser, Melissa Gardiner
+44 2 037 095 700
About Mithra
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
About Tibelia®
Tibelia® is a synthetic steroid (tibolone) intended to be used for hormone replacement therapy. Tibelia is a bioequivalent of Livial® 2.5mg which is a product that mimics the activity of the female sex hormones in the body, and is used especially for the relief of symptoms occurring after menopause. In some countries, this product is also used for the prevention of osteoporosis. It has been demonstrated that tibolone has favourable effects on various tissues in the body, such as brain, vagina and bone.[3]
Important information
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 forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.
