Recurring revenue streams reflect the international deployment of Loramyc®
PARIS--(BUSINESS WIRE)-- Regulatory News:
BioAlliance Pharma SA (Euronext Paris –BIO), a company dedicated to specialty and orphan pharma products in oncology and supportive care, today reported a consolidated turnover of €604,000 for the first quarter of 2011. This turnover is constituted for €560,000 of recurring revenues from licensing agreements for Loramyc®.
These revenues are similar to the Q1 2010 figure for Loramyc® but are now constituted by revenues from licensing agreements rather than direct sales. "On the basis of our current agreement structure, our partners are highly committed to promoting the added value of this innovative product”, commented CFO Nicolas Fellmann."In parallel, BioAlliance is pursuing its partnering strategy for Loramyc®, notably via the recently signed agreement with Sosei for Japan. Loramyc® is the lead product in our "Specialty Products" business unit, which constitutes strong foundations for our future growth," he added.
The company also announced significant progress concerning its “Orphan Oncology Products” business unit in Q1 2011:
- An update of the results of the Phase II clinical trial for Livatag® (doxorubicin Transdrug™) showed a significant 17-month improvement in median survival for primary liver cancer patients, when compared with the standard of care. These remarkable results and a new regimen for administration of Livatag® (validated in animal models and which reduces the previously observed pulmonary adverse events) will be presented to the French Drug Agency by Q2 2011. They will form the basis for reactivation of the clinical development program that had been put on hold in mid-2008.
- An international extension of the ongoing clonidine Lauriad™ Phase II clinical trial in chemoradiation therapy-induced oral mucositis in patients with head and neck cancer. The extension will help accelerate patient recruitment in a disease with unmet medical needs.
"Our pipeline of products for orphan diseases and rare and severe cancers is a huge reservoir of value", commented BioAlliance Pharma CEO Dominique Costantini. "Livatag®, clonidine Lauriad™ and AMEP® (being developed in metastatic melanoma) are all in clinical phase and offer high therapeutic value and the potential for significant sales. These objectives will notably be championed by Judith Gréciet, who joined us in early March as Chief Operating Officer, Operations and R&D of BioAlliance Pharma," she added.
BioAlliance Pharma's cash reserves stood at €16.2 million as of March 31st 2011. Furthermore, incoming payments of over €8.5 million are due this year, including non-conditional milestones from existing licensing agreements.
About BioAlliance Pharma
Dedicated to cancer and supportive care treatment with a focus on resistance targeting and orphan products –– BioAlliance conceives and develops innovative products, for specialty markets especially in the hospital setting and for orphan or rare diseases.
Created in 1997 and introduced to the Euronext Paris market in 2005, BioAlliance Pharma’s ambition is to become a leading player in these fields by coupling innovation to patient needs. The company’s teams have the key competencies required to identify, develop and register drugs in Europe and the USA; the products’ commercialization rights are licensed to international commercial partners invested in the hospital setting. In areas where medical needs are insufficiently met, its targeted approaches help overcome drug resistance and improve patient health & quality of life.
BioAlliance Pharma has developed an advanced product portfolio:
Loramyc®/Oravig® (oropharyngeal candidiasis in immunocompromised patients): Registered in 28 countries (EU US, Korea) Setofilm® (prevention and treatment of nausea and vomiting post chemo-radiotherapy and post operative) - Registered in EU
Sitavir® (Acyclovir Lauriad TM) (labialis herpes): Positive phase III final results; registration status
Fentanyl LauriadTM (chronic cancer pain): Positive preliminary Phase I results
Orphan Oncology products
Livatag® (Doxorubicin Transdrug™) in primary) liver cancer: Phase II results on survival
Clonidine LauriadTM (mucositis): Phase II on going
AMEP® (invasive melanoma): Phase I on going
For more information, visit the BioAlliance Pharma web site at www.bioalliancepharma.com
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 2009 Reference Document filed with the AMF on June 29, 2010, which is available on the AMF website (http://www.amf-france.org) or on BioAlliance Pharma SA's website (http://www.bioalliancepharma.com).
BioAlliance Pharma SA
Dominique Costantini, CEO, +33 1 45 58 76 01
Judith Greciet, COO, +33 1 45 58 70 61
Nicolas Fellmann, CFO, +33 1 45 58 71 00
Caroline Carmagnol, +33 6 64 18 99 59
KEYWORDS: United States Europe North America France New York
INDUSTRY KEYWORDS: Health Biotechnology Oncology Pharmaceutical General Health