Paris, July 3, 2007 -- BioAlliance Pharma (Euronext Paris - Code Isin: FR0010095596 - BIO) today announced it has entered into an exclusive licensing agreement under which PAR Pharmaceutical (NYSE:PRX) will receive commercialization rights in the U.S. to Loramyc(TM) (miconazole Lauriad®), an innovative antifungal therapy currently in Phase III development for the treatment of oropharyngeal candidiasis, an opportunistic infection commonly found in immunocompromised patients, including those with HIV and cancer.
Under this agreement, BioAlliance will receive an initial payment of $15 million. BioAlliance may also receive up to $50 million in additional milestones, including $20 million upon FDA approval and up to $30 million in milestone payments on future sales, as well as royalties on sales, commensurate with product stage.
Loramyc(TM) is an antifungal delivered in a mucoadhesive buccal tablet, enabling an early and extended release of the active ingredient at the site of the infection, with once-daily dosing.
Loramyc(TM) has been approved in France (October 06) and has already obtained price reimbursement. The Company is actively preparing the product launch scheduled for September 07 with its own hospital sales force. BioAlliance already announced a ¤29.5 million deal, in March 07, leading to the formation of a 50/50 Joint Venture, SpeBio, to commercialize Loramyc(TM) in Europe (ex-France).
The ongoing pivotal Phase III trial for Loramyc(TM) involves 540 patients at 40 sites in the U.S., Canada, and South Africa.
Dominique Costantini, CEO of BioAlliance said: "PAR is the ideal partner for Loramyc(TM) commercialization in the U.S., with a sales force dedicated to supportive care and a product portfolio in which Loramyc(TM) will represent an important addition. This relevant milestone for patients and the medical community is also a major step for our company and its shareholders, delivered in due time."
John A. MacPhee, president of PAR's Branded Products Division, said: "We believe our collaboration with BioAlliance will lead to an important treatment option. It also advances PAR's strategy to build a portfolio specifically addressing supportive care, and we will continue to look for additional products that leverage our existing commercial presence in specialty markets."
About BioAlliance Pharma
BioAlliance Pharma SA (Euronext Paris: BIO) is a specialty pharmaceutical company focused on the development and marketing of innovative therapeutics targeting drug resistance in cancer, HIV, and opportunistic infections. For press release and other company information, visit www.bioalliancepharma.com.
PAR Pharmaceutical Companies, Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. For press release and other company information, visit www.parpharm.com.
Disclaimer: 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 reference document approved by the AMF on 6 April 2007 under the number R. 07-031, which is available on the AMF website http://www.amf-france.org or BioAlliance Pharma S.A.'s website http://www.bioalliancepharma.com.
|BioAlliance Pharma SA|
President and CEO
Tel : +33 1 45 58 76 01
Chief Financial Officer
Tel : +33 1 45 58 71 00
Tel : +33 1 53 67 36 33
Tel : +33 1 53 67 35 74
|Andrew Lloyd & Associates|
Tel : +33 1 56 54 07 00
|Juliette DOS SANTOS
Tel : +33 1 56 54 07 04
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