Healthcare Industry News: Handok Pharmaceuticals
News Release - March 31, 2008
BioAlliance Pharma Expands Its Loramyc(TM) Franchise by Signing a South East Asia Deal Worth up to $12 Million with the Leading Korean Pharma Company Handok
PARIS--(HSMN NewsFeed)--Regulatory News: BioAlliance Pharma SA (Paris:BIO ) today announced that it has entered into an exclusive licensing agreement under which Korea-based Handok Pharmaceuticals will receive commercialization rights in Korea, Taiwan, Singapore and Malaysia. BioAlliance Pharma's innovative, muco-adhesive antifungal therapy Loramyc™ (miconazole Lauriad®) is already approved in Europe and a Phase III clinical trial has just completed in the United States.BioAlliance Pharma's third commercial partnership is potentially worth $12 million to the Paris-based firm, including $1.5 million on signature and a further $1.5 million on first sale in Korea - the remainder being sales milestones (up to $9 million) in the designated territory and double-digit royalties commensurate with the product stage.
“Handok is the ideal partner, with good marketing capabilities for South East Asia. We are delighted to be able to introduce Loramyc to the Asian market through this company”, said Dominique Costantini (BioAlliance Pharma's President and CEO) after the signing ceremony in Seoul. She added that “Handok has a longstanding relationship with major pharmaceutical companies and a track record in successfully commercializing the latter's products in this geographic zone. We shall continue our efforts to make Loramyc™ available worldwide in due course through strategic partners like Handok”.
Mr. Young-jin Kim (CEO of Handok Pharmaceuticals) commented: "We are very pleased to be teaming up with BioAlliance Pharma on this innovative product, which has good efficacy and will help to improve the patients' quality of life. Handok plans to launch Loramyc™ in 2010. We expect to establish a mutually beneficial, long-term partnership with BioAlliance Pharma because this agreement opens the door to more products from both BioAlliance and the world of biotech and will contribute to Handok's continued expansion”.
About BioAlliance Pharma
BioAlliance Pharma SA is a specialty pharmaceutical company focused on the treatment of opportunistic infections in cancer and HIV. The company develops and commercializes innovative products which address resistance issues. The company has launched its first portfolio product (Loramyc®) in France and the compound is currently in Phase III clinical development in oropharyngeal candidiasis in the USA. In addition, two other innovative products are currently in Phase III clinical trials: acyclovir Lauriad® in oral herpes (based on the same Lauriad® muco-adhesive technology as Loramyc®, which enables targeted release at the disease site) and doxorubicin Transdrug® in primary liver cancer (based on the Transdrug® nanoparticle technology, designed specifically for intracellular targeting of resistant cells). The company is also developing a new therapeutic entities program focused on the oncology and infectious disease markets.
In 2007, the company has established strategic alliances for commercializing Loramyc® in Europe (with JV SpeBio) and the USA (with Par Pharmaceutical). For more information, visit BioAlliance Pharma's website at http://www.bioalliancepharma.com.
About Handok Pharmaceuticals
Handok Pharmaceuticals is a Korean-based pharma company founded in the 1950s via an alliance with Hoechst and then extended through a JV in the 1960s. In the 1970s, the company also formed a strategic alliance with Roussel Uclaf and, on the diagnostic side, with Behring. In 2000, Handok formed a new strategic partnership with Sanofi-Aventis. 2007 sales amounted to $250 million and the company also has major GMP manufacturing capabilities. Handok is well established in Korea and has established a new alliance with YSP in Taiwan. Its main product lines are in the digestive field, cardiovascular diseases and diabetes treatments. In the hospital prescription sector, Handok develops post-chemotherapy anti-emetic treatments, anti-infectives and haematological treatments.
For more information, visit the Handok website at http://www.handok.co.kr
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 April 6 2007 under the number R. 07-031, which is available on the AMF website (http://www.amf-france.org) or on BioAlliance Pharma S.A.'s website (http://www.bioalliancepharma.com).
Source: BioAlliance Pharma
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