Paris, May 11, 2011 - BioAlliance Pharma SA (Euronext Paris -BIO), a company dedicated to specialty and orphan pharma products in oncology and supportive care, today announced that it has entered into an exclusive licensing agreement with Sosei Co. Ltd. (a wholly owned subsidiary of Sosei Group Corporation - TSE Mothers Index: 4565) for commercialization rights in Japan for Loramyc® (miconazole Lauriad™) muco-adhesive buccal tablet.
BioAlliance Pharma will receive from Sosei up to $18.5 million of which $3 million up-front payment will be received at the time of signing the agreement. Remaining payments are linked to the marketing authorization of Loramyc® in Japan and sales milestones. Significant royalties on sales commensurate with the product stage are included in the deal.
"Sosei, with a track record of successful development and registration of pharmaceutical products in Japan, is an ideal partner for BioAlliance and for the commercialization of Loramyc® on the Japanese market. We are delighted to be able to cooperate with Sosei and shall continue our efforts to make BioAlliance products portfolio available worldwide in due course through strategic partnerships like Sosei", said Dominique Costantini, CEO of BioAlliance Pharma.
Shinichi Tamura, CEO of Sosei Group Corporation, commented: "We are very pleased to be teaming up with BioAlliance Pharma on this innovative product. Loramyc® has the potential to become the first treatment in tablet form for oropharyngeal candidiasis in Japan, to provide an important addition to available treatments, and to enhance patients' compliance and improve their quality of life".