BioAlliance is now relying on partnerships to insure its growth strategy
PARIS--(BUSINESS WIRE)--Regulatory News:
BioAlliance Pharma SA (Euronext Paris: BIO), a company dedicated to the treatment and supportive care of cancer and AIDS patients, announces today an exclusive partnership agreement with Therabel Group for the European commercialization rights of Loramyc® and Setofilm® including France and the associated French commercial structure to a newly established entity, Therabel Hôpital Pharma.
BioAlliance will receive from Therabel up to €48.5 million of which €6.5 million as upfront payments including €4.5 million at signature and two annual payments of €1 million each end of 2011 and end of 2012. Additionally €3 million will be linked to Loramyc® reimbursement in three EU countries. The subsequent €33 million are linked to sales performance for the two licensed products. The agreement includes significant royalties on sales commensurate with the two approved products in EU.
The agreement contemplates also an equity investment from Therabel as a strategic partner in BioAlliance for €3 million. This share increase will be subject to shareholders’ approval at the next general assembly meeting on April 22. The BioAlliance shares will be subscribed at €5.89 corresponding to a 15% premium over the last 20 business days. A second investment of €3 million with same 15% premium will be subscribed in 2011 subject to shareholders’ meeting in 2011.
“We are delighted with this agreement with Therabel as Therabel represents an ideal strategic European partner with a hospital presence in supportive care and pain management. They offer an existing sales structure as well as all the market access support necessary these days to ensure the commercial success of our products. This agreement will bring recurrent royalty revenues to BioAlliance”, declares Dominique Costantini, President and CEO of BioAlliance Pharma. “BioAlliance will transfer its commercial experience on Loramyc® to Therabel and would like to thank warmly the team for their efforts and results. BioAlliance will from now on capitalize on its development and registration expertise already validated with Loramyc®, Setofilm® and acyclovir Lauriad® (Phase 3 positive in orofacial herpes) to build shareholder’s value in the years to come,” concludes Dominique Costantini.
“This significant agreement strongly emphasizes our growth strategy, particularly in Europe in the supportive care area in the hospital setting. Our marketing experience as well as our promotional forces and our European coverage represent an ideal fit with BioAlliance’s areas of excellence. We are delighted to add Loramyc® and Setofilm® to our portfolio. These innovative products will enable us to become very competitive in the hospital field,” added Jean-Michel Robert, President of the Strategic Committee of Therabel Group.
About Loramyc® and Setofilm®
Loramyc® is an antifungal drug indicated for the treatment of oropharyngeal candidiasis in immunocompromised patients.
Setofilm® is an anti-emetic drug indicated for the prevention and the treatment of –chemotherapy, radiotherapy and post operative-induced nausea and vomiting in adults and children.
About BioAlliance Pharma
As a preferred partner for hospital-based specialists, BioAlliance Pharma is a company which develops innovative products, especially in the fields of opportunistic infections and chemotherapy complications. In areas where medical needs are insufficiently met, its targeted approaches help overcome drug resistance and improve patient health & quality of life. BioAlliance Pharma’s ambition is to become a leading player in these fields by coupling innovation to patient needs.
For more information, visit the BioAlliance Pharma web site at www.bioalliancepharma.com
About Therabel
Therabel is a privately owned, medium-size, specialty pharmaceutical company. Its activities are focused on Western Europe. The company was founded in 1945 and has since expanded from a strong base in the Benelux countries to operate in other parts of Europe, notably France (Therabel Lucien Pharma, Therabel Hôpital Pharma), Italy (Therabel Pharma Italia) and more recently the UK, through Therabel's acquisition of Javelin Pharmaceuticals UK Ltd in January 2009 (now Therabel Pharma UK Ltd). In January 2010, Therabel Pharma Deutschland GmbH was incorporated in Germany. Therabel turnover in 2009 was €160 million. There are more than 350 employees, the majority of which comprises the sales force and sales and marketing management. Therabel does not undertake R&D, but instead grows the business through its product in-licensing and acquisition activities.
For more information, visit the Therabel group web site at www.therabel.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 2008 Reference Document filed with the AMF on April 7, 2009, which is available on the AMF website (http://www.amf-france.org) or on BioAlliance Pharma SA's website (http://www.bioalliancepharma.com).
