Mithra sells shares in Mayne Pharma
- Mithra sold all 4,221,815 shares it held in Mayne Pharma for EUR ~12.8 million
- As the Mayne Pharma shares were pledged to the secured lenders of Mithra, the cash proceeds will be held in escrow by appointed security agents of lenders
Liege, Belgium, 15 February 2024 – 08:30 CET – Mithra (Euronext Brussels: MITRA), a company dedicated to women’s health, today announces the sale of all 4,221,815 shares it held in Mayne Pharma Group Limited (ASX: MYX). The shares were sold at a price of A$ 5.03 per share for aggregate net proceeds of A$ 21,129,551 (approx. EUR 12.8 million).
Further to Mithra’s 06 February 2024 announcement on its cash position, Mithra has sold its position in Mayne Pharma, with the consent of its lenders. Proceeds from the sale of shares will be applied to the prepayment of loans (together with any accrued interests and any option prepayment amount), and/or operational purposes. As the Mayne Pharma shares were pledged for the benefit of Mithra's secured lenders, the cash from the sale of the Mayne shares will be held in escrow by the appointed security agents of Mithra’s lenders, until the use of proceeds has been determined by Mithra in agreement with the lenders.
Mithra acquired the shares in Mayne Pharma as part of a License and Supply Agreement for an exclusive license to commercialize ESTELLE®, Mithra’s novel combined oral contraceptive, in the US, which was concluded in 2019.
For more information, please contact:
| Mithra Pharmaceuticals SA Alex Sokolowski, PhD Head of IR & Communications investorrelations@mithra.com +32 (0)4 349 28 22 | Frédérique Depraetere Communications Director info@mithra.com +32 (0)4 349 28 22 |
About Mithra
Mithra Pharmaceuticals SA (Euronext: MITRA) is a Belgian biopharmaceutical company dedicated to transforming women’s health by offering new choices through innovation, with a particular focus on contraception and menopause. Mithra’s goal is to develop products offering better efficacy, safety and convenience, meeting women’s needs throughout their life span. Mithra explores the potential of the unique native estrogen estetrol in a wide range of applications in women health and beyond. After having successfully launched the first estetrol-based product in 2021, the contraceptive pill ESTELLE®, Mithra is now focusing on its second product DONESTA®, the next-generation hormone therapy. Mithra also offers partners a complete spectrum of solutions from early drug development, clinical batches and commercial manufacturing of complex polymeric products (vaginal ring, implants) and complex liquid injectables and biologicals (vials, pre-filled syringes or cartridges) at its technological platform Mithra CDMO. Active in more than 100 countries around the world, is headquartered in Liège, Belgium. www.mithra.com
ESTELLE ®, and DONESTA® are registered trademarks of Mithra Pharmaceuticals or one of its affiliates.
About Mayne Pharma
Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercializing novel pharmaceuticals, offering patients better, safe and more accessible medicines. Mayne Pharma also provides contract development and manufacturing services to clients worldwide. Mayne Pharma has a 40-year track record of innovation and success in developing new oral drug delivery systems. These technologies have been successfully commercialized in numerous products that continue to be marketed around the world. To learn more about Mayne Pharma, please visit maynepharma.com
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.
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