SHAREHOLDER NEWSLETTER – APRIL 2014 MERGER AGREEMENT BETWEEN bIOALLIANCE PHARMA AND TOPOTARGET TO CREATE A LEADING ORPHAN ONCOLOGY COMPANY

Dear Madam, Dear Sir, Dear Shareholder,

I am very pleased to initiate this first Shareholder letter with the recent announcement of the intended merger between BioAlliance Pharma and the Danish company Topotarget.

This is an ambitious project to create a leading player in the development of orphan oncology drugs, an area representing a highly dynamic pharmaceutical segment. With this merger, we aim to combine the strengths of two companies who successfully developed a portfolio of late-stage products based on innovative approaches, addressing strongly unmet medical needs and whose teams have unique expertise and know-how. The three leading products from the combined company will achieve key steps of their development in the coming months, thus increasing the portfolio value and generating revenues through new or existing partnership agreements. Thanks to strengthened visibility and attractiveness towards international institutional investors, we are convinced that this merger will rapidly and strongly create value for all the shareholders.

The merger proposal will be subject to your approval at an extraordinary general meeting end of June. It is important to me to give you some key information on Topotarget, on the synergies and the expected advantages from this merger, and on the main technical modalities of the operation. Of course, we will get back to you with more detailed information at the end of May, at the time of final merger agreement execution and EGM notice publication.

This project will give a new dimension to our company and will make it a new strong European player in the domain of rare cancers, thanks to a unique and deep portfolio of complementary programs.

We are counting on your continued support to finalize this sound cross-border operation, 100% share-based that will be a major lever of our growth strategy.

Sincerely,

Judith Greciet

CEO of BioAlliance Pharma

 

Shareholder Letter – April 2014