Pursuant to the agreement, BioAlliance will earn up to $44m from Vestiq, the initial $9m corresponding to unconditional payments to be spread over 24 months, and significant royalties on sales.
BioAlliance CEO Judith Greciet said, "This agreement with Vestiq should allow the development of Oravig’s US commercial potential and ensure its success in the top global market, driven by a skilled and experienced team in the promotion of Specialty pharma products."
Vestiq, which will become the marketing authorization holder of the product, will be responsible for all the related issues.
The companies are considering the US launch of the product shortly.
Vestiq CEO Martin Baum said, "Oravig will become a key pharmaceutical product in our portfolio. It perfectly fits with Vestiq’s development strategy in the area of oncology supportive care."