BioAlliance Pharma SA (Euronext Paris – BIO), the specialty
pharmaceutical company focused on the treatment of opportunistic infections in cancer and
AIDS, today announced a consolidated turnover of €2.6 million for Q1 2009.
Loramyc® sales totaled €0.4 million, reflecting the product’s sustained commercial success.
Almost 7000 patients were treated during Q1 2009, versus 2200 in Q1 2008.
“2009 has started well for our first product”, stated Dominique Costantini, Chairman of
BioAlliance Pharma’s Executive Board. “The increasing adoption of Loramyc® as the
preferred treatment for oropharyngeal candidiasis by hospital-based specialists is being
confirmed month after month. This is a key factor, given that we are continuing our
discussions with potential European partners in the field of cancer supportive care”.
Revenue from agreements and licenses for Q1 2009 represented €2.2 million, versus €3.7
million for the same period in 2008. This variation is due to the fact that non-recurrent
payments received are spread out in the accounts. Notably, over Q1 2009 a €1.2 million
residual amount regarding the SpeBio agreement has been recognized as revenues after
BioAlliance Pharma reacquired the sales rights to Loramyc® in Europe.
Cash and cash equivalents
The company’s cash reserves amounted to €27 million as of March 31, 2009. This sum
includes the reimbursement of research tax credits for the period 2004-2007 (€2.4 million).
An additional €2.2 million (corresponding to the research tax credit for 2008) was received in
Two key events are going to reinforce BioAlliance Pharma’s cash position:
- under the terms of existing Loramyc® licensing contracts in the United States and Asia,
the company is due to receive $21.5 million in milestone payments over the period 2009-
- in Q1 2009, BioAlliance Pharma obtained €6.4 million in funding from OSEO (the French
state innovation agency). From 2009 onwards, these funds will be devoted to two
promising development programs (AMEPTM and Zyxine) in the field of invasive tumors.
In all, the company has enough cash and cash equivalents to fund its operating activity over
the next two years. This forecast does not include potential commercialization agreements
on Loramyc® or other portfolio products.
State of development of the company’s portfolio during the first half of 2009
- A European filing for Ondansetron RapidFilmTM.
- Recovery of the European rights to Loramyc®, following termination of the agreement
with SpePharm/SpeBio. BioAlliance Pharma has initiated legal procedures before the
relevant courts in order to obtain compensation for losses and damages suffered.
- Loramyc® granted product marketing authorization in Korea (Handok license).
- Manufacturing file for Loramyc® in the USA to be completed by introduction of a
- Presentations at major scientific congresses on AIDS and cancer (CROI and AACR),
marking progress in three promising programs: a new HIV integrase inhibitor, oral
irinotecan in colon cancer and the AMEPTM biotherapy in metastatic melanoma.