2009 starts well for BioAlliance as Loramyc sales increase

BioAlliance Pharma, the French pharmaceutical company focused on the treatment of opportunistic infections in cancer and AIDS, reported a consolidated turnover of Euro 2.6m for Q1 2009. Loramyc sales totalled €0.4m, with nearly 7,000 patients treated, compared with 2,200 in Q1 2008.

"2009 has started well for our first product," said Dominique Costantini, chairman of BioAlliance Pharma's Executive Board. "The increasing adoption of Loramyc as the preferred treatment for oropharyngeal candidiasis by hospital-based specialists is being confirmed month after month. This is a key factor, given that we are continuing our discussions with potential European partners in the field of cancer supportive care."

Revenue from agreements and licences for Q1 2009 fell from €3.7m to €2.2m, owing to the way that non-recurrent payments received are reported.

Two key events reinforced BioAlliance Pharma's cash position: under the terms of existing Loramyc licensing contracts in the US and Asia, the company is due to receive $21.5m in milestone payments over the period 2009/2010; and in the first quarter the company obtained €6.4m in funding from OSEO (the French state innovation agency). From this year, this funding will be devoted to two development programmes (AMEPTM and Zyxine) in the field of invasive tumours.

During the first half of 2009, BioAlliance will be seeking a European filing for Ondansetron RapidFilm and the recovery of the European rights to Loramyc, following termination of the agreement with SpePharm/SpeBio. BioAlliance Pharma has initiated legal procedures in order to obtain compensation for losses and damages.

It also expects to be granted marketing authorisation for Loramyc in Korea (Handok licence) and the manufacturing file for the drug in the US to be completed with the introduction of a debossed tablet.