Hungary and SAN ANTONIO, Texas) – Gedeon Richter Plc. and Evestra Inc. today
announced that they have signed a collaboration agreement in which Richter is providing
a USD $5-million convertible loan to Evestra. The funds will empower Evestra to
accelerate the development of its innovative women’s health product pipeline
into clinical stages.
the terms of the agreement, after three years Richter has an option to decide
whether the loan is to be reimbursed, including earned interest, or converted
into an equity stake in Evestra.
About Gedeon Richter
Richter Plc. (www.richter.hu), headquartered in Budapest/Hungary, is a major
pharmaceutical company in Central Eastern Europe, with an expanding direct
presence in Western Europe. Richter's consolidated sales were approximately EUR
1.1 billion (USD$ 1.5 billion), while its market capitalization amounted to EUR
2.1 billion (USD$ 2.5 billion) in 2014. The product portfolio of Richter covers
almost all important therapeutic areas, including gynaecology, central nervous
system, and cardiovascular areas. Having the largest R&D unit in Central
Eastern Europe, Richter's original research activity focuses on CNS disorders.
With its widely acknowledged steroid chemistry expertise, Richter is a
significant player in the female healthcare field worldwide. Richter is also
active in biosimilar product development.
(www.evestra.com), is a San Antonio, Texas-based biopharmaceutical company
engaged in the development of innovative women’s healthcare products. Evestra’s products are based on two platform
technologies, medicinal chemistry and vaginal drug delivery technology, and
address unmet medical needs in women's health arenas.
Evestra announced today that the US Patent Office has allowed the second
patent in the antiprogestin area which describes imidazolyl-based
steroidal new chemical entities. These compounds have potentially a broad
range of applications in oncology and gynecological indications. The
description of these compounds and their antagonistic/agonistic biological
properties was published in 2014 in the journal Steroids in a paper
entitled “Synthesis and biological
evaluation of 11’ imidazolyl antiprogestins and mesoprogestins”, Vol. 92, pages
Evestra has announced today the launch of Evestra
Onkologia Sp. Z o.o., as its wholly-owned subsidiary in Poland. The newly
established company will be fully dedicated to research and development
activities as they pertain to oncology therapeutics, as well as a product
portfolio initially based on product concepts developed by Evestra Inc.
will collaborate with Polish academic institutions and companies involved in
oncology basic research, preclinical, and clinical development. Evestra
Onkologia is located in the city Nowy Dwor Mazowiecki, about 18 miles northwest
of Warsaw, with easy access to other Polish and European cities via
Modlin airport located in Nowy Dwor Mazowiecki.