Healthcare Industry News: Sanofi
News Release - June 23, 2008
BioAlliance Pharma extends its Loramyc(TM) License to China with NovaMed PharmaceuticalsPARIS--(Healthcare Sales & Marketing Network)--Jun 23, 2008 -- BioAlliance Pharma SA (Euronext Paris -BIO), the specialty pharmaceutical company focused on the treatment of opportunistic infections in cancer and HIV, today announced that it has entered into an exclusive licensing agreement under which NovaMed Pharmaceuticals will receive commercialization rights in China for Loramyc(TM). Loramyc(TM) (miconazole Lauriad®), BioAlliance Pharma's innovative, muco-adhesive antifungal therapy, is already approved in Europe and completed a Phase III clinical trial in the United States in immunocompromised patients.
BioAlliance's partnership with NovaMed represents an all-important entry into the fast growing China market. The deal could potentially generate USD4.5M through a combination of licensing cash on signing and milestones. Royalty commensurate with the product stage will also be received.
"Novamed has rapidly built critical mass in the Chinese oncology market and today enjoys partnering agreements with Baxter, Pfizer, Sanofi-Aventis," said Dominique Costantini, BioAlliance Pharma President and CEO. She added: "We shall continue our efforts to make Loramyc(TM) available worldwide and specifically in countries like China, through strategic partnerships."
Hao Zhou - VP Business Development at NovaMed Pharmaceuticals commented: "Loramyc(TM) is a good fit product wise and it will strengthen NovaMed's position in the supportive care segment of the fast growing oncology segment in China. Loramyc(TM) will play an important role in treating opportunistic infections in patient undergoing cancer treatment. NovaMed will continue to seek other partnering opportunities with BioAlliance in the oncology area going forward."
Mark Lotter, NovaMed's CEO, commented "We are pleased to be teaming up with BioAlliance in China. This product represents an important addition to NovaMed's growing oncology portfolio".
NovaMed plans to register the product in China and launch Loramyc(TM) immediately after gaining marketing approval from the Chinese authority.
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 already received European Marketing Authorizations in UK, Germany, Belgium, Denmark and Luxemburg. The compound has completed the pivotal 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 in the USA with Par Pharmaceutical. In March 2008, BioAlliance Pharma signed a partnership agreement with Handok Pharmaceuticals for commercializing Loramyc® in Korea, Taiwan, Singapore and Malaysia. In May 2008, the company expanded its product portfolio via acquisition of the European commercial rights to ondansetron Oral Spray (OS) from NovaDel Pharma Inc. (AMEX:NVD ).
For more information, visit BioAlliance Pharma's website at www.bioalliancepharma.com.
About NovaMed Pharmaceuticals
NovaMed Pharmaceuticals is a new pharmaceutical entity in China founded in 2005 by a former Astra Zeneca executive Mark Lotter and a Chinese entrepreneur, Bo Y Shao strongly supported by Atlas and Fidelity. NovaMed acts as a middleman for companies with drugs they'd like to sell or test in China acting through the Chinese regulatory process to commercialisation. The company organises manufacture, distribution and sales of pharmaceutical products. With two Business units dedicated to critical care and oncology domains, the company is expanding its sales organisation (300 representatives).
For more information, visit the Novamed website at http://www.novamed.com.cn/
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 11 2008 under the number R. 08-021, 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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