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news.BioAlliance Pharma, an orphan oncology and supportive care products developer, has received an amount of about €9m in funding from bpifrance through a Strategic Industrial Innovation (ISI) program.
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Out of the funding, nearly €4.3m has been given directly to BioAlliance Pharma to hasten the industrial development of Livatag, a doxorubicin nanoparticle currently under phase III trial for the treatment of primary liver cancer.
This grant supports the launch of Nano Innovation for Cancer (NICE) that focuses on aspects of characterization and industrialization of processes specific to nanodrugs.
Comprising five public and private firms including BioAlliance Pharma, CEA-Leti, DBI and the Institut Galien Paris Sud (University Paris Sud/CNRS) and Nanobiotix, NICE consortium’s aim is to build a platform to speed up the development and industrialization of nanomedicine in France.
Commenting on the financing, BioAlliance Pharma CEO Judith Greciet said that the support and funding from bpifrance for Livatag is a significant element to increase its industrial development in parallel with the ongoing phase III.
Formed in 1997 and introduced to the Euronext Paris market in 2005, BioAlliance Pharma envisages and develops new products committed to cancer and supportive care treatment with a focus on resistance targeting and orphan products.