PARIS--(BUSINESS WIRE)-- Regulatory News:
BioAlliance Pharma SA (Paris:BIO)(Euronext Paris - BIO), a company dedicated to specialty and orphan oncology products, today reported a consolidated turnover of €576,000 for the second quarter of 2011.
This turnover is mainly made of recurring revenues from Loramyc®/Oravig®. It also comprises an amount of €113,000 corresponding to the staggering of the upfront payment received from BioAlliance new partner Sosei, according to international financial accounting standards. This agreement, signed in May 2011, could reach up to $18.5 million: in addition to the $3 million upfront payment, it will provide milestone payments linked to development, registration and commercialization steps in Japan.
The « specialty products » portfolio of BioAlliance Pharma is mostly dedicated to direct revenues from out-licensing agreements; it has already enabled the Company to receive more than €50 million cumulated payments since 2007. A second product, Sitavir® in the treatment of herpes labialis, actually in registration phase, is the next candidate for a partnership.
The second quarter of 2011 was also marked by the achievement of key steps of the “orphan oncology products” portfolio, notably:
- The phase III clinical trial application to the French drug agency (Afssaps) for Livatag®, a very promising product in the treatment of primary liver cancer;
- The application for orphan medicinal product designation in Europe and the United States for clonidine Lauriad™, in phase II clinical development for the prevention of radiotherapy-induced oral mucositis in patients with head and neck cancer.
The Company has announced the validation by the agencies of both applications, which is a mandatory step in the progress of these projects.
“BioAlliance’s strategy is based on its two synergistic portfolios, with a view to accelerating growth. While the first portfolio has contributed and will substantially contribute to generate cash to the Company, the second one relies on very high potential drugs that should enable us to generate direct revenues and thus to become more independent from partners”, declares Judith Greciet, CEO of BioAlliance Pharma.
End of July, BioAlliance has also successfully achieved a capital increase of €16 million that will enable the Company to optimize the development program of Livatag® and to reinforce its “orphan oncology products” portfolio.
BioAlliance cash reserves stood at €14.2 million as of end of June. Additional incoming payments of a least €5.5 million mainly from existing licensing agreements, as well as the €16 million net proceeds of the capital increase will add to this figure in 2011.
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)
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 in oral mucositis: Phase II ongoing
AMEP® (invasive melanoma): Phase I ongoing
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 2010 Reference Document filed with the AMF on April 7, 2011, 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
Judith Greciet, CEO
Tel +33 1 45 58 76 00
Nicolas Fellmann, CFO
Tel.: +33 1 45 58 71 00
Tel.: +33 6 64 18 99 59
KEYWORDS: United States Europe North America France
INDUSTRY KEYWORDS: Health Biotechnology Oncology Pharmaceutical