PARIS, Jul 19, 2012 (BUSINESS WIRE) -- Regulatory News: BioAlliance Pharma SA, an innovative Company dedicated to the development of orphan oncology products and to supportive care products, announces it has signed a binding term sheet with Vestiq for the commercialization rights in the United States of Oravig(R) (known as Loramyc(R) in Europe) for the treatment of oropharyngeal candidiasis in adults.
BioAlliance Pharma has just finalized the final terms of a partnership agreement with Vestiq, which will enter into force as early as next September.
Under this License agreement, BioAlliance Pharma should receive up to $44 million from Vestiq including significant unconditional payments and payments linked to sales performance. Sales royalties will also be paid to BioAlliance Pharma. Moreover, Vestiq should become the Marketing Authorization Holder of the product in the United States and would therefore be in charge of related costs.
Based in North Carolina, Vestiq is a private company specialized in supportive care. It has a team of more than 70 medical representatives who will promote Oravig(R) to the American practitioners. Vestiq is already commercializing synergistic products in this domain.
"Oravig(R) is the first product registered by BioAlliance with the Food and Drug Administration and it was very important for us to license it to a commercial partner able to give it its rightful place and develop its commercial potential. The marketing expertise of Vestiq Management, the synergy with existing products and the sales representative coverage are guarantees of this partnership's future success," declares Judith Greciet, CEO of BioAlliance Pharma. "Having Oravig(R) on the US market is a key achievement to us. This is also great news for the patients suffering from oropharyngeal candidiasis who will benefit from Oravig(R)'s unique efficacy profile, thanks to an innovative muco-adhesive administration route."
About BioAlliance Pharma
Dedicated 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 products Loramyc(R)/Oravig(R) (oropharyngeal candidiasis in immunocompromised patients): Registered in 28 countries (EU, US, Korea) Sitavir(R)/Sitavig(R) (Acyclovir Lauriad(TM)) (labialis herpes): Positive phase III final results; registration status Fentanyl Lauriad(TM) (chronic cancer pain): Positive preliminary Phase I results
Oncology Orphan products Livatag(R) (Doxorubicin Transdrug(TM)) (primary liver cancer): Phase III on going Validive(R) (Clonidine Lauriad(TM)) (mucositis): Phase II on going AMEP(R) (invasive melanoma): Phase I on going
For more information, visit the BioAlliance Pharma web site at www.bioalliancepharma.com
This 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 ).
SOURCE: BioAlliance Pharma SA