Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.BioAlliance Pharma has entered into an exclusive partnership agreement with Therabel Group for the European commercialisation rights of Loramyc and Setofilm including France and the associated French commercial structure to a newly established entity, Therabel Hopital Pharma.
Subscribe to our email newsletter
BioAlliance Pharma is expected to receive up to EUR48.5m from Therabel, of which EUR6.5m as upfront payments including EUR4.5m at signature and two annual payments of EUR1m each end of 2011 and end of 2012.
Additionally EUR3m will be linked to Loramyc reimbursement in three EU countries. The subsequent EUR33m are linked to sales performance for the two licensed products. The agreement includes significant royalties on sales commensurate with the two approved products in EU.
Furthermore, the agreement also contemplates an equity investment from Therabel as a strategic partner in BioAlliance Pharma for EUR3m. This share increase will be subject to shareholders’ approval at the next general assembly meeting on April 22.
Dominique Costantini, president and CEO of BioAlliance Pharma, said: “We are delighted with this agreement with Therabel as Therabel represents an ideal strategic European partner with a hospital presence in supportive care and pain management. They offer an existing sales structure as well as all the market access support necessary these days to ensure the commercial success of our products. This agreement will bring recurrent royalty revenues to BioAlliance.
“BioAlliance will transfer its commercial experience on Loramyc to Therabel and would like to thank warmly the team for their efforts and results. BioAlliance will from now on capitalize on its development and registration expertise already validated with Loramyc, Setofilm and acyclovir Lauriad (Phase 3 positive in orofacial herpes) to build shareholder’s value in the years to come.”
Jean-Michel Robert, president of strategic committee at Thermal Group, said: “This significant agreement strongly emphasises our growth strategy, particularly in Europe in the supportive care area in the hospital setting. Our marketing experience as well as our promotional forces and our European coverage represent an ideal fit with Bio Alliance’s areas of excellence. We are delighted to add Loramyc and Setoff to our portfolio. These innovative products will enable us to become very competitive in the hospital field.”