BioAlliance Pharma launches a capital increase of €8 million with maintenance of preferential subscription rights to accelerate the development of the two major orphan products (Livatag® and Validive®)

  • Issue price: 3.50 €
  • Subscription commitment of €5 million from two reference shareholders (representing 63% of the issue)
  • 1 new share issued for 8 existing shares
  • The subscription period will run from July 2, 2013 to July 12, 2013 on

BioAlliance Pharma SA (Euronext Paris – BIO — FR0010095596), an innovative Company dedicated to orphan oncology products and specialty products, today launches a capital increase with maintenance of preferential subscription rights for an amount of € 7.94 million [The amount may be increased to € 8.74 million resulting from the full exercise of the extension clause].
This capital increase will enable BioAlliance Pharma:

  • To accelerate its Phase II trial with Validive®, in development for the prevention of chemoradiation therapy-induced oral mucositis in patients with head and neck cancer. This financing will allow an increase in the number of investigating centers in Europe and especially in the United States, thus helping to finalize the recruitment of patients early 2014. The preliminary results of this study should be available later on that year and will represent a significant milestone for both the Validive program and the Company.
  • To support the extension of the Phase III trial with Livatag®, in development for the treatment of advanced hepatocellular carcinoma (HCC), further to the first satisfactory recommendations of the DSMB (the International Independent Board of Experts’ Data and Safety Monitoring Board, in charge of evaluating the trial tolerance data). The study for this orphan indication is planned to be expanded to additional European countries and to the United States shortly afterward.

“We are pursuing our value creation strategy based on the development of our therapeutic innovations in severe and rare diseases in oncology where the medical need is strong and which represent very high market potentials”, declares Judith Greciet, CEO of BioAlliance Pharma. “Thanks to this financing, we would intend on accelerating the development of our two most advanced programs to enable potential growth for the Company.”

Main features of the operation

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BioAlliance Pharma launches a capital increase of €8 million with maintenance of preferential subscription rights to accelerate the development of the two major orphan products (Livatag® and Validive®)