Healthcare Industry News: Lauriad
News Release - May 16, 2006
BioAlliance Pharma Boosts Business Development Operations in Europe and USEmerging Specialty Pharma Company Sets up Network to Accelerate the Sales of its Current and Future Products and Add to its Product Portfolio
PARIS--(HSMN NewsFeed)--May 16, 2006--BioAlliance Pharma (PARIS:BIO ; ISIN:FR0010095596), an emerging specialty pharmaceutical company focused on the development of innovative therapeutics targeting drug resistance in cancer, HIV, and severe and opportunistic infections, announced today it has strengthened its business development operations in Europe and the US. To this end, it has retained the services of two companies to seek partnerships for BioAlliance Pharma. The two companies are BioScience Managers and Medical Synergy. Richard Keatinge, Vice-President Business Development at BioAlliance Pharma since 2004, is leaving the company as of today to pursue other activities.
"While we are planning to launch our lead product Loramyc® in Q1 2007, we also want to push ahead with the development and marketing of our portfolio of current and future products," said Dominique Costantini, CEO of BioAlliance Pharma. "Our new partners will look for partnership and in- and out-licensing opportunities. In the meantime, the start of the Loramyc phase III trials, recently approved by the FDA, will allow us to conclude a marketing partnership deal for this region."
BioAlliance's European business development priorities are focused on an in-licensing agreement and a partnership for the marketing of Loramyc. Responsibility for these activities has been given to BioScience Managers Ltd (BML), London, UK. BML is specialized in advising life science companies, and its senior management have extensive experience in all aspects of biopharmaceuticals.
In the US, Dr Emile Loria's consultancy, Medical Synergy SA, has been tasked with finding an industry partner for BioAlliance and also to look at licensing opportunities. Dr Loria has broad experience in biopharmaceuticals and was previously president and chief business development officer of IDM Pharma. He worked on the merger of IDM with Epimmune, a NASDAQ-listed company of which he was president and CEO.
Mr. Keatinge has resigned his mandates as board member and managing director as well as his position as vice-president business development. "On behalf of the board of BioAlliance Pharma, I want to express our thanks to Richard Keatinge for his work and for his active contribution to making the company truly international. We wish him every success in his future projects," said Gilles Avenard, chief operating office of BioAlliance Pharma. In relation to this departure, Bryan, Garnier & Co and ING Securities Bank (France), BioAlliance's financial advisers at the time of the IPO, have lifted the obligation on Mr. Keatinge not to dispose of his shares in the company before December 1, 2006. This obligation related to 137,380 shares representing 1.6 percent of the capital (1.36 percent on a fully-diluted basis) and to conditions described in the company's prospectus dated November 22, 2005 with the AMF visa number 05-803.
About BioScience Managers Ltd (BML)
BioScience Managers Ltd is a multidisciplinary team of professionals with a broad range of skills in science, medicine, business, law and finance. The team working for BioAlliance includes: Robin Wright, head of enterprise consulting, who has been responsible for more than 120 business development or M&A deals. He was previously manager of M&A activities at Citigroup Salomon Smith Barney. Chris Hollowood, who has extensive experience in investment and the pharmaceutical industry. Michael Forer, cofounder of BML in 2001 and previously with Rothschild Asset Management, who brings his network of international connections. Plus other professionals at BML whose careers have covered strategic management in biotechnology and pharmaceutical industries.
About Medical Synergy SA
Founded by Emile Loria, MD, the company has arranged a number of partnerships with big pharma for its clients. Dr Loria was president and CEO of Epimmune, a NASDAQ-listed company since 2001. Partnerships concluded under the leadership of Dr Loria generated some USD 10 million a year for Epimmune in the fields of infectious diseases, AIDS and cancer. He has extensive experience in drug delivery, a special focus of Medical Synergy.
About BioAlliance Pharma
BioAlliance Pharma SA (Euronext Paris: BIO) is an emerging specialty pharmaceutical company focused on the development of innovative therapeutics targeting drug resistance in cancer, HIV, and severe and opportunistic infections. The Company is developing three broad product ranges based on the Lauriad® adhesive technology which allows an early and prolonged release of therapeutic agents at the site of the disease, the Transdrug® nanoparticle technology designed specifically for intracellular targeting, and a New Chemical Entities program focused on development of new drugs in oncology and HIV.
The Company's most advanced product, the Loramyc® (miconazole Lauriad®) 50 mg Bioadhesive Buccal Tablet, has completed two Phase III clinical trials in Europe for treatment of oropharyngeal candidiasis (OPC) in cancer and HIV patients. In September 2005, BioAlliance filed a request for Marketing Authorization (MAA) in Europe for this product. Under an IND allowed by the US Food and Drug Administration (FDA), a pivotal Phase III trial of Loramyc® is expected to initiate in the US in 2006 for the same indication. A second product, acyclovir Lauriad®, for the treatment of oral herpes, has completed a Phase I clinical trial in Europe. A Phase I/II trial in primary liver cancer (hepatocellular carcinoma or HCC) utilizing the Company's doxorubicin Transdrug® nanoparticle delivery technology is ongoing in Europe, and has been granted orphan drug status by the EMEA and the FDA.
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 28 April 2006 under the number R. 06-042 , which is available on the AMF website http://www.amf-france.org or BioAlliance Pharma S.A.'s website http://www.bioalliancepharma.com.
Source: BioAlliance Pharma
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