Mithra Pharmaceuticals
Estetrol-based therapeutics for contraception and menopause.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| N/A | €0.0 Valuation: €0.0 18.3x EV/Revenue | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
| investor investor | €0.0 | round | |
* | N/A | €2.5m | Post IPO Debt |
| Total Funding | 000k | ||
| EUR | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 130 % | 41 % | 48 % | (91 %) | 151 % | 196 % | (40 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (39 %) | 58 % | (27 %) | (1027 %) | (422 %) | 22 % | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (76 %) | (18 %) | (28 %) | (1020 %) | (516 %) | (89 %) | (432 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | 104 % | 55 % | 59 % | 869 % | 376 % | 96 % | - |
Source: Company filings or news article
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Mithra Pharmaceuticals was a Belgian biotechnology company established in 1999 as a spin-off from the University of Liège by François Fornieri and Professor Jean-Michel Foidart. The company specialized in developing and manufacturing pharmaceuticals dedicated to women's health, with a primary focus on contraception and menopause.
The company's core strategy revolved around the research and application of Estetrol (E4), a native estrogen, which it explored for a wide range of uses in women's health. This led to the development of key products like Estelle®, a contraceptive pill, and Donesta®, a hormone therapy for menopause. Mithra's business model included out-licensing its products and providing contract development and manufacturing organization (CDMO) services through its advanced technological platform, which handled complex therapeutic solutions such as polymeric vaginal rings and implants. The company distributed its products through a network in countries including Belgium, France, Germany, and Brazil.
Mithra went public in June 2015, listing on Euronext Brussels in what was a significant IPO at the time. However, the company faced considerable financial and managerial challenges in subsequent years. In early 2024, Mithra initiated a process to monetize its assets due to a strained cash position. This culminated in the company filing for bankruptcy in June 2024. Following the bankruptcy filing, key assets, including its subsidiaries Estetra and Neuralis and the rights to its E4-based product portfolio (including Estelle® and Donesta®), were sold to the Hungarian pharmaceutical company Gedeon Richter for €175 million. The funds from this sale were designated to repay creditors, leaving no value for shareholders.
Keywords: women's health, pharmaceuticals, Estetrol, E4, contraception, menopause, hormone therapy, biotechnology, CDMO, Donesta, Estelle, Gedeon Richter, François Fornieri, Jean-Michel Foidart, Liège, therapeutics, polymeric forms, injectables, fertility, osteoporosis