BioAlliance Pharma SA (Euronext Paris: BIO), the specialty
pharmaceutical company focused on the treatment of opportunistic infections in cancer and AIDS,
today announced a 2008 turnover of €8.2 million, strongly increased from €3.5 million in 2007.
Over the course of 2008, the company pro-actively pursued its international licensing and partnering
strategy, notably via the signature of two agreements with companies in south-east Asia. BioAlliance
Pharma has now signed Loramyc® licensing agreements for a total of up to €90 million, with €25
million in cash already received over the period 2007-2008. Licensing and partnering revenues for
2008 amounted to €7 million and can be broken down as follows:
- a licensing agreement in the United States (with Par Pharmaceutical): €4.1 million.
- licensing agreements in Europe (with SpePharm) and south-east Asia (with Handok and
NovaMed): €2.9 million.
Loramyc® sales continue to grow strongly and are in line with forecasts, with a consolidated turnover
of €1 million for the product’s first full year commercialization, 96% of which generated in France.
Since Loramyc®’s launch in September 2007, almost 19,000 patients have been treated with the
compound in France – well over the target of 16,000 set in August 2008. This result has been achieved
thanks to support from opinion leaders, coherence with official guidelines and the work performed by
BioAlliance Pharma in the field of oropharyngeal candidiasis.
Available cash and cash equivalents as of December 31, 2008, amounted to €31.7 million. The
company expects early reimbursement of its research tax credit estimated at over €4 million.
Furthermore, without taking into account any future agreement, BioAlliance Pharma forecasts to
receive US$ 21.5 million in milestone payments in 2009-2010 from existing partners.
“We are delighted with Loramyc®’s success among the medical community in the oncology supportive
care segment, in which we are becoming a partner of choice. We are confident that sales will continue
to grow”, stated Dominique Costantini, BioAlliance Pharma’s President and CEO. “Our solid cash
position means we can plan to pursue our commercial development with confidence, while forging
additional industrial alliances on portfolio products”.
BioAlliance Pharma COO Pierre Morgon added: “Following the successful launch of Loramyc® in
France, BioAlliance Pharma is positioning itself as a key partner for hospital-based specialist
physicians treating opportunistic infections in cancer and AIDS patients. We are going to reinforce
our portfolio of marketed products, thanks to the two novel formulations of ondansetron (used in postchemo/
radiotherapy supportive care) that we have in-licensed for Europe in 2008″.