BioAlliance licenses European commercialization rights for Loramyc and Setofilm to Therabel in a 48.5 million-euro deal

7 April 2010

French drugmaker BioAlliance Pharma has entered an exclusive partnership agreement with the Belgium-headquartered Therabel group for the European commercialization rights of Loramyc (miconazole buccal tablet) and Setofilm (a film strip-based formulation containing 4mg and 8mg ondansetron) including France and the associated French commercial structure to a newly-established entity, Therabel Hopital Pharma.

Under the terms of the deal, BioAlliance will receive from Therabel up to 48.5 million euros ($65.6 million), of which 6.5 million euros will be as an upfront payment including 4.5 million euros at signature and two annual payments of 1 million euros each end of 2011 and 2012. Additionally, 3 million euros will be linked to Loramyc reimbursement in three EU countries. The subsequent 33 million euros are linked to sales performance for the two licensed products. The agreement includes significant royalties on sales commensurate with the two approved products in the European Union.

Deal includes equity investment

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