Mithra and Searchlight Pharma Announce Launch of Haloette® in Canada

First available alternative in the Canadian contraceptive ring market

LIEGE, Belgium and MONTREAL, Feb. 16, 2022 /CNW Telbec/ - Mithra and Searchlight Pharma are pleased to announce the commercial launch of Mithra's vaginal contraceptive ring Myring^® under the brandname Haloette^® in Canada.

Following the successful launch of Mithra's innovative contraceptive pill Nextstellis^® last year, Searchlight Pharma is pleased to further expand its growing footprint in Women's Health with the commercialization of Haloette^®. Currently, the Canadian vaginal contraceptive ring market is worth approximately CAD $11.5 million (EUR 8 million) a year¹, represented exclusively by the originator Nuvaring^{® 2}. Haloette^® is a new affordable option for women that was approved by Health Canada in September 2021 and is now available in pharmacies across Canada.

Developed and manufactured by European women's health expert and innovator Mithra, Haloette^® eliminates the need for refrigerated conditions prior to being dispensed to patients. This provides a competitive advantage for both wholesalers and pharmacies, by reducing transport, storage costs, and the need for cold chain storage. Furthermore, it provides a more convenient option for distributors, pharmacists and patients.

"We are delighted to partner with Mithra once again in order to offer Canadian women an additional choice in addressing their contraception needs," said Mark Nawacki, President & CEO of Searchlight Pharma. "Since making Haloette^® available across Canada this past December, interest has been very high, as evidenced by rapid product uptake at major wholesalers and pharmacy banners throughout Canada, as well as the many formulary listings with private and public payers, including the Public Prescription Drug Insurance Plan (RAMQ) in Quebec."

"It's thrilling to team up once again with Searchlight Pharma to bring innovative contraceptive alternatives to Canadian women," said Leon Van Rompay, CEO Mithra. "Just a few months after the Canadian launch of Nextstellis^®, we are now also providing women with access to the first generic product of a contraceptive ring in this first region in North America. Our Mithra CDMO pursues the production of all Myring^® commercial batches orders for a range of new commercial launches planned for 2022."

About Haloette^®

Haloette^® (etonogestrel/ethinyl estradiol vaginal ring) is a non-biodegradable, flexible, transparent, combination contraceptive vaginal ring, with an outer diameter of 54 mm and a cross-sectional diameter of 4 mm. It is made of ethylene vinylacetate copolymers, and contains 11.7 mg etonogestrel and 2.7 mg ethinyl estradiol. When placed in the vagina, each ring releases on average 0.120 mg/day of etonogestrel and 0.015 mg/day of ethinyl estradiol over a three-week period of use. The ring is to remain in place continuously for three weeks. It is removed for a one-week break, during which a withdrawal bleed usually occurs. A new ring is inserted one week after the last ring was removed.

About Mithra

Mithra (Euronext: MITRA) is a Belgian biotech 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 develops and manufactures complex therapeutics in the areas of contraception, menopause and hormone-dependent cancers. It offers partners a complete spectrum of research, development and specialist manufacturing at its technological platform Mithra CDMO. Active in more than 100 countries around the world, Mithra has an approximate headcount of 300 staff members and is headquartered in Liège, Belgium.
www.mithra.com 

About Searchlight Pharma Inc.

Searchlight Pharma Inc., headquartered in Montreal, that executes best-in class search, acquisition, commercialization, and focused development of innovative and unique specialty healthcare products. Our core products focus on women's health, urogynecology, and urology, and our team is committed to improving people's lives by bringing the right products to market. Follow us, learn more about what we do, and get to know our product portfolio at www.searchlightpharma.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.

SOURCE Searchlight Pharma Inc.