Mithra and Searchlight Pharma Inc. (?Searchlight?) signed a License and Supply Agreement for the Canadian rights to DONESTA®, Mithra?s investigational, next generation medicine, containing Estetrol, for the treatment of the symptoms of menopause. The signing of the agreement activates a first milestone payout to Mithra of EUR 1.5 million. The two companies signed a binding term sheet for a licensing agreement in July 2023.

Under the terms of the agreement, Searchlight will have the exclusive sales and marketing rights for DONESTA® in Canada. Mithra is expected to receive an additional EUR 15.55 million in regulatory and sales-related milestone payments, plus tiered double-digit royalties on total Canadian annual net sales. Searchlight will be responsible for obtaining and maintaining any regulatory approvals required to market and sell DONESTA® in Canada.

Searchlight has repeatedly ranked among the top-growth companies in Canada, with one of the largest portfolios of women?s health products and associated sales team in the Canadian market. Mithra and Searchlight have a continuing partnership for NEXTSTELLIS® the first Estetrol (E4) based combined oral contraceptive product (ESTELLE® project), and HALOETTE® vaginal contraceptive ring in Canada (MYRING® project). NEXTSTELLIS® was launched in Canada in third quarter 2021, while HALOETTE® was launched in first quarter 2022.