BioAlliance Pharma out-licenses Oravig to Vestiq Pharma for the USA

French drug developer BioAlliance Pharma (Euronext Paris – BIO) says it has signed a binding term sheet with privately-held US firm Vestiq Pharmaceuticals for the commercialization rights in the USA of Oravig (miconazole buccal tablets, known as Loramyc in Europe) for the treatment of oropharyngeal candidiasis in adults, which will enter into force as early as next September.

Under this license agreement, BioAlliance Pharma should receive up to $44 million from Vestiq including significant unconditional payments and payments linked to sales performance. Sales royalties will also be paid to BioAlliance Pharma. Moreover, Vestiq should become the marketing authorization holder of the product in the USA and would therefore be in charge of related costs.

Based in North Carolina, Vestiq has a team of more than 70 medical representatives who will promote Oravig to the American practitioners. The US company is already commercializing synergistic products in this domain.