BioAlliance Pharma SA (Euronext Paris: BIO), the specialty
pharmaceutical company focused on the treatment of opportunistic infections in cancer and
AIDS, announces that it has filed a request for arbitration against SpePharm and SpeBio with
the Arbitration Court of the International Chamber of Commerce in order to obtain reparation
for the damage caused to it by non-compliance with contractual obligations and delays in the
marketing and sales of Loramyc® in Europe. BioAlliance estimates that the damages owed to
it are at least 45M€.
BioAlliance received today from SpePharm and SpeBio a letter containing an ultimatum and
threatening to commence a press campaign denigrating Loramyc®, its potential and its
reputation. Accordingly BioAlliance decided to make public the fact that it has initiated
proceedings with the International Chamber of Commerce.
This action follows the complaint it filed with the Commercial Court of Paris and the
termination of the license agreement with SpeBio dated February 27, 2009. Prior to doing so,
BioAlliance sought an amicable resolution with SpePharm and SpeBio of this conflict which is
related to their breach contractual obligations.
In the meantime, SpePharm and SpeBio have withdrawn the summary proceedings they filed
in the Netherlands.
Dominique Costantini, President and CEO of BioAlliance, emphasizes: “SpePharm and
SpeBio have refused to ensure, as provided by contract, the distribution of Loramyc® for a
period of six months subsequent to termination. We have therefore immediately put in place
all the necessary structures in order to ensure the continuity of patient treatment in the
countries where the product has been marketed by SpeBio. We wish to defend the interests
of BioAlliance and for Loramyc® we are now actively looking for an industrial partner in
Europe present in supportive care/oncology”.