Liège, 27 April 2010 - Uteron Pharma Holding SA ("Uteron" - www.uteron-holding.com), a biopharmaceutical company located in Liège (Belgium), is proud to announce that Saffelberg Investments, an independent Belgian private equity group, will provide growth capital to Uteron. The investment of Saffelberg Investments will be used to complete the funding of Uteron's phase III trials for the contraception indication of its series of Levosert® Intra Uterine Devices ("IUD") and to fund the integration of Uteron's production facility in Liège into the group.
Uteron was founded in January 2006 as a spin-off of the Université de Liège. With the support of its founding partners (among which Unversity of Liège, Walloon region and Mithra Pharmaceuticals SA) Uteron aims to develop and commericalise the Levosert hormonal IUD products for the indications of contraception and menorrhagia (heavy bleeding during periods).
Uteron expects to start marketing its IUD as a treatment for menorrhagia in 2011.
Clinical trials for contraception are currently ongoing in the US, with the assistance of Uteron's US partner, Fondation Medicines360, a non-profit pharmaceutical organization that addresses unmet needs of women and children by developing innovative, affordable and sustainable medical solutions.
First sales with regard to contraception are expected in 2014.
"We are very proud to count Saffelberg Investments amongst our investors", says Mr François Fornieri, CEO of Uteron Pharma Holding SA. "Not only will the entry of Saffelberg Investment in both the shareholding and the Board of Directors of Uteron add credibility to our company and our achievements to date, we are convinced that Saffelberg Investment's strategy, entrepreneurship and experience will support the future strategic development of the company."
Bank Degroof acted as financial advisor in this transaction.
For more information
Eric Poskin, Spokesman, Strategic & Corporate Communication
+32 477 205 771
About Uteron Pharma Holding: Uteron Pharma Holding (Uteron), based in Liege (Belgium), was founded in 2006 as a collaboration between the University of Liege, the Walloon Region, and Mithra pharmaceuticals. Based on its innovative controlled release technology platform, which allows a prolonged release of active pharmaceutical ingredients, Uteron has developed a hormonal intra‐uterine device (IUD). An IUD is a flexible T‐shaped frame that once inserted in the uterus provides an effective, safe, reversible and long term protection against pregnancy. About 150 million women worldwide rely on an IUD. In contrast to most other IUD' available the Uteron IUD consistently releases a constant low dose of a synthetic hormone. Extensive clinical trials to prove contraception are currently being conducted in cooperation with its US based development partner Medicines360.