BioAlliance Pharma receives a guarantee from Coface to finance its export activities Paris,
3 Jan, 2013
BioAlliance Pharma SA (Euronext Paris – BIO), an innovative Company dedicated to the development of orphan oncology products and to supportive care products, announces the signature of an assurance prospection agreement with Coface granting a guarantee to finance its export activities.
Under this agreement, Coface will cover the expenses incurred by BioAlliance Pharma in the prospect of export markets for an overall amount of €1.3 million. This financing aims at expanding throughout the world, and particularly in emerging countries, the commercialization of Loramyc®, a miconazole Lauriad™ mucoadhesive buccal tablet, indicated for the treatment of oropharyngeal candidiasis in immunocompromised patients.
“We are very pleased to have obtained from Coface this guarantee of a significant amount. It will enable us to reinforce and to accelerate our strategy to expand the commercialization of Loramyc® towards markets with strong economic growth”, declares Judith Greciet, CEO of BioAlliance Pharma. About Coface
Coface manages on behalf of and with the guarantee of the French State, a wide range of products aiming at facilitating French exportations, by supporting companies throughout their export process. This offer includes five guarantees: assurance prospection, exporter risk insurance, export credit insurance, exchange risk insurance and investment insurance. All public guarantees included, Coface provides today insurance to more than 8,000 companies.