Paris, March 31th, 2008 – BioAlliance Pharma SA (Euronext Paris –BIO) today announced that it has entered into an exclusive licensing agreement under which Korea-based Handok Pharmaceuticals will receive commercialization rights in Korea, Taiwan, Singapore and Malaysia. BioAlliance Pharma’s innovative, muco-adhesive antifungal therapy Loramyc™ (miconazole Lauriad®) is already approved in Europe and a Phase III clinical trial has just completed in the United States.
BioAlliance Pharma’s third commercial partnership is potentially worth $12 million to the Paris-based firm, including $1.5 million on signature and a further $1.5 million on first sale in Korea - the remainder being sales milestones (up to $9 million) in the designated territory and double-digit royalties commensurate with the product stage.
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