BioAlliance Pharma reacquires the rights to Loramyc® in Europe
27 Feb, 2009
BioAlliance Pharma SA (Euronext Paris: BIO), the specialty pharmaceutical company focused on the treatment of opportunistic infections in cancer and AIDS, today announced the termination of the licensing agreement signed in 2007 with SpeBio (a joint venture with SpePharm). The exclusive license in European Union countries other than France covered the distribution of Loramyc®, a muco-adhesive buccal tablet for treating in oropharyngeal candidiasis, a type of infected mucositis, in immunodepressed patients. Today, BioAlliance Pharma has initiated legal proceedings in Paris against SpeBio for violation of the latter’s contractual obligations and in order to obtain appropriate compensation for losses suffered as a result of delays in commercialization and sale of Loramyc®.
BioAlliance Pharma is confident in ensuring the continued Europe-wide commercialization of Loramyc® directly in selected countries and through specialist oncology partners in other countries. «Loramyc® has been a clear success in France during its first year on sale and we believe in the product’s potential in markets throughout Europe”, stated Dominique Costantini, President and CEO of BioAlliance.