Paris, June 1, 2011 – The proceedings to the arbitral tribunal are still at a preliminary stage concerning the scope of its jurisdiction. This tribunal will have to rule on the relief sought by BioAlliance Pharma and the counterclaims of SpePharm and SpeBio.
BioAlliance Pharma announces today that it has filed an appeal to the French Supreme Court on a procedural matter in this arbitral proceedings that it had initiated against SpePharm and SpeBio. In this arbitration, BioAlliance Pharma argues that SpePharm and SpeBio (the common subsidiary which is managed by SpePharm and which was created at the time in order to market Loramyc®) breached their contractual obligations. These breaches resulted in a delay in the marketing of Loramyc® and which compelled BioAlliance to rescind the contracts in question.
BioAlliance Pharma contests the decisions rendered on the issue of the scope of the jurisdiction of the arbitral tribunal. These decisions or any public declaration of SpePharm on this subject have no bearing on the merits of the case and the decisions that will be issued in the future once the question of jurisdiction is finally decided.
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; the products’ commercialization rights are licensed to international commercial partners invested in the hospital setting. In areas where medical needs are insufficiently met, its targeted approaches help overcome drug resistance and improve patient health & quality of life.
