Mithra finds partner for new contraceptive in Brazil

Women’s health specialist Mithra, based in Belgium, has agreed a commercialization deal with Brazilian company Libbs, regarding the oral contraceptive candidate Estelle (ethinylestradiol and gestodene).

Mithra will receive 20 million euros ($24 million) upfront, with half of that sum dependent on certain development and regulatory outcomes, and will receive ongoing sales-based payments.

The company says the deal could be worth hundreds of millios of euros, and that it will provide more details once the contract is finalized.

Top-line results from Phase III trials are expected towards the end of next year. The companies will work together towards regulatory approval in Brazil.