Mithra Pharmaceuticals SA announced the signing of a binding Head of Terms (HoT) with Gedeon Richter Plc. related to an agreement for the development and commercialization of ESTELLE and DONESTA in China. ESTELLEis the first estetrol-based combined oral contraceptive (15 mg estetrol (E4) /3 mg drospirenone) and DONESTAis Mithra?s investigational, next generation hormone therapy medicine containing estetrol (E4) for the treatment of the symptoms of menopause.

Upon the finalization of the license agreements, Gedeon Richter will have the exclusive commercial rights for both ESTELLEand DONESTAin China. Gedeon Richter will perform and fund the clinical studies required to obtain marketing approvals in China. Upon the closing of the two Licensing agreements, Mithra will receive a combined milestone payment of EUR 4.5 million.

The deal also foresees a total of EUR 1.2 million in payments for the achievement of regulatory milestones for both products, and a EUR 8.5 million in sales-related milestones, as well as a high-single-digit to low-double-digit percentage share of cumulative net sales (royalties) after launch. China is a major Asian market and pivotal for Gedeon Richter to enable it to better serve women?s needs in the Asia Pacific region. ESTELLE, Mithra?s first E4-based product is commercialized as a combined oral contraceptive in the US and Canada under the brand name NEXTSTELLISand in Europe by Gedeon Richter as DROVELIS.

DONESTAis Mithra?s next generation orally administered E4-based hormone therapy product candidate.