BioAlliance Pharma announces the execution of its licensing agreement with Vestiq Pharmaceuticals for Oravig® in the US
September 24 2012 - 11:45AM
Business Wire
Regulatory News:
BioAlliance Pharma SA (Euronext Paris - BIO) (Paris:BIO), an
innovative Company dedicated to the development of orphan oncology
products and to supportive care products, announces the execution
of the licensing agreement with Vestiq Pharmaceuticals to
commercialize Oravig® in the United States (known as Loramyc® in
Europe) for the treatment of oropharyngeal candidiasis in
adults.
Under this agreement, BioAlliance Pharma should receive up to
$44 million from Vestiq, the first $9 million corresponding to
unconditionnal payments to be spread over 24 months. The agreement
also includes significant royalties on sales. Vestiq will become
the Marketing Authorization Holder of the product and will assume
all related responsibilities.
At this stage, BioAlliance Pharma and Vestiq are actively
preparing the US launch of Oravig® that should occur within the
next few months.
« This agreement with Vestiq should allow the development
of Oravig®’s US commercial potential and ensure its success in the
top global market, driven by a skilled and experienced team in the
promotion of Specialty pharma products”, declares Judith Greciet,
CEO of BioAlliance Pharma.
“It is with great enthusiasm that we are initiating this
collaboration with BioAlliance Pharma. Oravig® will become a key
pharmaceutical product in our portfolio. It perfectly fits with
Vestiq’s development strategy in the area of oncology supportive
care”, declares Martin Baum, CEO of Vestiq Pharmaceuticals.
About Vestiq PharmaceuticalsBased in North Carolina,
Vestiq is a privately held company specialized in the promotion of
oncology supportive care products. Vestiq has been founded by
highly experienced pharmaceutical executives with a successful
track record in building specialty pharma companies.
About BioAlliance PharmaDedicated to cancer and
supportive care treatment with a focus on resistance targeting and
orphan products, BioAlliance conceives and develops innovative
products, for specialty markets especially in the hospital setting
and for orphan or rare diseases.Created in 1997 and introduced to
the Euronext Paris market in 2005, BioAlliance Pharma’s ambition is
to become a leading player in these fields by coupling innovation
to patient needs. The company’s teams have the key competencies
required to identify, develop and register drugs in Europe and the
USA.
BioAlliance Pharma has developed an advanced product
portfolio:
Specialty productsLoramyc®/Oravig® (oropharyngeal
candidiasis in immunocompromised patients): Registered in 28
countries (EU, US, Korea)Sitavir®/Sitavig® (Acyclovir LauriadTM)
(labialis herpes): Positive phase III final results; registration
statusFentanyl LauriadTM (chronic cancer pain): Positive
preliminary Phase I results
Oncology Orphan productsLivatag® (Doxorubicin Transdrug™)
(primary liver cancer): Phase III on goingValidive® (Clonidine
LauriadTM) (mucositis): Phase II on goingAMEP® (invasive melanoma):
Phase I on going
For more information, visit the BioAlliance Pharma web site at
www.bioalliancepharma.com
DisclaimerThis communication expressly or implicitly
contains certain forward-looking statements concerning BioAlliance
Pharma SA and its business. Such statements involve certain known
and unknown risks, uncertainties and other factors, which could
cause the actual results, financial condition, performance or
achievements of BioAlliance Pharma SA to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. BioAlliance Pharma SA
is providing this communication as of this date and does not
undertake to update any forward-looking statements contained herein
as a result of new information, future events or otherwise.
For a discussion of risks and uncertainties which could cause
actual results, financial condition, performance or achievements of
BioAlliance Pharma SA to differ from those contained in the
forward-looking statements, please refer to the Risk Factors
("Facteurs de Risque") section of the 2011 Reference Document filed
with the AMF on April 24, 2012, which is available on the AMF
website (http://www.amf-france.org) or on BioAlliance Pharma SA's
website (http://www.bioalliancepharma.com).
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