Consolidated turnover for 2010
Exceptional performance linked to international licensing agreements
BioAlliance Pharma SA (Euronext Paris-BIO), a company
dedicated to the supportive care and treatment of cancer patients, today announced a
consolidated turnover for 2010 of €22.5 million - up from €7.5 million in 2009.
This exceptional performance was due to the sales and licensing agreements implemented
for Loramyc® (Oravig® in the United States). In April 2010, Par/Strativa (in charge of Oravig®
sales in the USA) paid BioAlliance Pharma a $20 million (€15 million) milestone payment
(accounted for as turnover) following the approval of product marketing authorization. This
marked the successful completion of a complex process now mastered by BioAlliance
Pharma - one of the few innovative French healthcare SMEs to have registered a product in
the USA. BioAlliance Pharma also obtained €4.5 million (fully recognized as revenue) upon
signature of the licensing agreement with Therabel, its European partner (Therabel also
made a share capital contribution of €3 million). Since 2007, BioAlliance Pharma has signed
several international licensing agreements for Loramyc®/Oravig®, worth a total of €120 million
(of which around €48 million have already been received by the company).
"With these exceptional milestone payments (non-recurring items by definition), our first
product is clearly demonstrating its potential and its ability to generate a rapid return on
investment", commented BioAlliance Pharma CEO Dominique Costantini. "With the
September 2010 launch of Oravig® in the USA and Loramyc®'s ongoing revenue generation
in Europe, we are already receiving royalties on our partners' sales and are keeping a close
eye on sales growth. We are confident in the future because Loramyc®/Oravig® perfectly
addresses the needs of both patients and prescribers in a serious pathology related to
The turnover for 2010 also includes the sale of products to Therabel and Par/Strativa and
royalties on partners’ sales (totaling €1.6 million) as well as direct sales invoiced by
BioAlliance Pharma in France and in some European countries prior to the transfer of
operations to Therabel (€0.5 million).
The company's consolidated cash and cash equivalents stood at €20.9 million as of
December 31, 2010. In 2011, BioAlliance Pharma expects to earn a total of €4 million under
the terms of its contract with Therabel and will also receive early reimbursement of its 2010
research tax credit.
On the basis of the model that has proved to be so successful for Loramyc®, BioAlliance
Pharma is actively preparing the registration of its second product, Sitavir® (acyclovir
LauriadTM), which is also based on the company's patented LauriadTM muco-adhesive
technology). BioAlliance plans to file for marketing approval in the second half of 2011 in
Europe and the USA.