Mithra Pharmaceuticals soars on Canada licensing deal for menopause drug

Mithra Pharmaceuticals SA

31/07/2023 08:44

** Shares in Mithra Pharmaceuticals  MITRA.BR  rise as much
as 24.8% after the Belgian biotech group and Canadian
Searchlight Pharma signed a licensing agreement for Donesta, a
treatment for menopause symptoms
    ** Under the agreement, Searchlight will have the exclusive
sales and marketing rights for Donesta in Canada
    ** Mithra will receive up to 17.05 million euros ($18.8
million) in licensing fees and regulatory and sales milestones,
along with tiered royalties on Canada annual net sales
    ** Searchlight Pharma anticipates filing of Canadian
regulatory submission in H1 2024
    ** Mithra's shares are up 18.4% at 0743 GMT, on track for
best day since May 2018

($1 = 0.9079 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))