Delivering quality therapy since 1901

Richter announces the underwriting of convertible notes issued by Prima-Temp

3/27/2019

​Gedeon Richter Plc. ("Richter") today announced that it underwrote convertible notes issued by Prima-Temp Inc. (Prima-Temp") for a consideration of USD 5 million.

The transaction announced today comes subsequent to an exclusive license and distribution agreement signed with Prima-Temp in late 2017 to commercialize its innovative medical device, Ayola (Priya in the USA) globally, except for the USA and Canada. This license agreement was first complemented by an acquisition of a minority stake of USD 5 million.

"This funding support of Prima-Temp is a clear sign of our commitment towards our partner and it proves our trust in the device under development. In our view female fertility is a paramount market within Women's Healthcare, which is our core business. Extending our involvement in the business Richter expects to make consecutive steps forward both within this important market segment and in the field of digital medical devices", said Mr Gábor Orbán, Chief Executive Officer of Richter.

 

About Ayola/Priya

Ayola/Priya is an ovulation predictor vaginal ring. The ring measures core body temperature of a woman every 6 minutes and sends the data directly through wireless connection to a smart device every two hours. The data is sent to the cloud where it is stored and analyzed based on a proprietary Prima-Temp algorithm. The ring does not contain any active ingredient but a temperature measurement sensor. The device detects the subtle changes in temperature prior to ovulation and sends a notification to the smart device. This allows for easy handling, continuous data flow and an aid in conception.

 

About Gedeon Richter Plc.

Gedeon 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, in China and in Latin America. Having reached a market capitalisation of EUR 3.2 billion (USD 3.6 billion) by the end of 2018, Richter's consolidated sales were approximately EUR 1.4 billion (USD 1.6 billion) during the same year. The product portfolio of Richter covers many important therapeutic areas, including Women's Healthcare, 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 Women's Healthcare field worldwide. Richter is also active in biosimilar product development.

 

For more information:

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