Mithra granted € 1.9 million in non-dilutive funding

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Women’s health expert Mithra Pharmaceuticals today announces that it has been granted EUR 1.9 million in non-dilutive funding from the Walloon Region. The grant follows a decision by the region's Vice President and Minister for Economy, Industry, Innovation and New Technologies, Mr Jean-Claude Marcourt.

The funding allows the Company to advance two ongoing research programs and covers up to 50% of the total value of both projects.

The first research program will look into the alternative production of Estetrol (E4) by biosynthesis. E4 is the first native selective acting estrogen produced at high levels by the liver of the human fetus during pregnancy, and its use is currently being evaluated in Mithra’s Phase III study for Estelle® (anticonception) and Phase II for Donesta® (menopause).

The second will cover the development of pharmaceutical grade Ethylene-Vinyl Acetate (EVA) for complex therapeutics solutions. As a reminder, Mithra’s Contract Development & Manufacturing  Organization (CDMO) specializes in the development and production of complex therapeutical solutions, as for example for Myring, a bioequivalent version of the vaginal ring Nuvaring®.

Francois Fornieri, CEO of Mithra Pharmaceuticals, commented: “I would like to extend my gratitude to the Walloon Region and Mr Marcourt in particular for their continued support of Mithra and the Walloon life sciences sector in general. These grants allow us to continue to revolutionise the female healthcare market by offering women options with a reduced risk of side effects.”

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