BioAlliance Pharma reports its consolidated turnover for Q3 And announces progress for Loramyc® commercialization in Italy
BioAlliance Pharma SA (Euronext Paris - BIO), a company dedicated to specialty and orphan oncology products, today reported a consolidated turnover of €332,000 for the quarter of 2011 and announced progress for Loramyc® commercialization in Italy.
This turnover is nearly equally made of our partners’ international activities on Loramyc®/Oravig® (royalties and sales) and to the staggered upfront payments received from the licensing agreements.
Price and reimbursement discussions are being finalized between Therabel and the Italian Health Authorities, which should then be confirmed in Italian official journal. It will be a key step, allowing Therabel to prepare Loramyc® launch on this new territory, extending Loramyc® presence in Europe, already available in France and Germany.
Key milestones have been achieved during the last months fostering the Company’s growth strategy:
• The submission of European registration dossier for Sitavir®, antiviral drug based on the Lauriad™ mucoadhesive technology with a unique efficacy profile in the treatment of recurrent herpes labialis treatment.
• The green light from the French Agency for the phase III of Livatag®, leader of the “Orphan oncology products” portfolio, which should be initiated in the treatment of primary liver cancer in 2012.
• The grant of orphan status designation for clonidine Lauriad™ in Europe in the prevention of radiotherapy-induced oral mucositis in patients with head and neck cancer, allowing to optimize the development plan in terms of costs and timelines and reinforcing its protection (commercial exclusivity).
« These significant achievements demonstrate the ability and know-how of BioAlliance’s teams to develop a diversified and balanced portfolio, enhancing the unique profile of the Company in our area of activity”, declares Judith Greciet, CEO of BioAlliance Pharma. “With a level of cash reaching €28.2 million end of September, strongly reinforced after our capital increase last summer, we are able to pursue our R&D programs, notably our most advanced projects”.