Par strikes $65M licensing deal for antifungal therapy

Par Pharmaceutical has agreed to pay up to $65 million to license the U.S. rights to the antifungal therapy Loramyc from France's BioAlliance Pharma. The drug is in late-stage trials for oropharyngeal candidiasis, an infection common among immunocompromised patients. BioAlliance gets $15 million up front, another $20 million on the FDA's approval and up to $30 million in scheduled milestones. The drug has already been approved in France. BioAlliance has a 50-50 joint venture deal to commercialize the drug in the rest of Europe with SpeBio.

- see this release on the deal
- here's the report on the deal from Thomson Financial

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