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news.BioAlliance Pharma has entered into an exclusive licensing agreement with NovaMed Pharmaceuticals under which NovaMed will receive commercialization rights in China for Loramyc.
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BioAlliance Pharma’s muco-adhesive Loramyc (miconazole Lauriad) is already approved in Europe and completed a Phase III clinical trial in the US in immunocompromised patients.
BioAlliance’s partnership with NovaMed represents an all-important entry into the fast growing China market. The deal could potentially generate $4.5 million through a combination of licensing cash on signing and milestones. Royalty commensurate with the product stage will also be received.
NovaMed plans to register the product in China and launch Loramyc immediately after gaining marketing approval from the Chinese authority.
Mark Lotter, CEO of NovaMed, said: “We are pleased to be teaming up with BioAlliance in China. This product represents an important addition to NovaMed’s growing oncology portfolio.”