Home > Press > BioAlliance Pharma raises free float to 40 per cent of capital
BioAlliance Pharma SA (Euronext Paris - Code Isin : FR0010095596 - BIO), an emerging specialty pharmaceutical company, announced today that it has widened its shareholder base to include well-known institutional investors in France and internationally. This results from a private placement carried out by Invest Securities permitting the secondary sale of 970,000 shares representing 11.2 per cent of the capital.
BioAlliance Pharma raises free float to 40 per cent of capital
Paris, France | Posted on February 1st, 2007
These shares were released by a number of historical investors, including venture capitalists who had supported the company throughout its development.
The success of this secondary sale confirms the company and its management are right to focus on the specialty pharma business model as a vehicle for rapid development.
The latest operation means that the free float now amounts to 40 per cent of the capital. This should allow a significant growth in share liquidity and better recognition by the market of the quality of the fundamentals and future developments at BioAlliance Pharma.
About BioAlliance Pharma
BioAlliance Pharma SA (Euronext Paris: BIO) is an emerging specialty pharmaceutical company focused on the development of innovative therapeutics targeting drug resistance in cancer, HIV, and severe and opportunistic infections.
Specialty pharma targets the development and marketing of drugs for specialist markets and selected populations. This business model, unlike that of “big pharma” which targets general medicine, offers faster product development, lower R&D costs, smaller sales teams, and hence higher margins and fast growth.
The Company is developing three broad product ranges based on the Lauriad(R) mucoadhesive technology which allows an early and prolonged release of therapeutic agents at the site of the disease, the Transdrug® nanoparticle technology designed specifically for intracellular targeting, and a New Chemical Entities program focused on development of new drugs in oncology and HIV.
The Loramyc(R) (miconazole Lauriad(R)) 50 mg Mucoadhesive Buccal Tablet has completed two Phase III clinical trials in Europe for treatment of oropharyngeal candidiasis (OPC) in cancer and HIV patients. In October 2006, the company obtained Marketing Authorization for this product in France. A pivotal Phase III trial of Loramyc(R) is ongoing in the US for the same indication. The company has submitted a Phase III protocol for a second product, acyclovir Lauriad(R), an oral herpes treatment. A Phase II/III trial in primary liver cancer (hepatocellular carcinoma or HCC) utilizing the Company's doxorubicin Transdrug® nanoparticle delivery technology started in Europe in December 2006. This product has been granted orphan drug status by the EMEA and the FDA.
This means the company will have three Phase III clinical trials underway in 2007.
This communication expressly or implicitly contains certain forward-looking statements concerning BioAlliance Pharma SA and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of BioAlliance Pharma SA to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. BioAlliance Pharma SA is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
For a discussion of risks and uncertainties which could cause actual results, financial condition, performance or achievements of BioAlliance Pharma SA to differ from those contained in the forward-looking statements please refer to the Risk Factors (Facteurs de Risque) section of the reference document approved by the AMF on 28 April 2006 under the number R. 06-042, which is available on the AMF website http://www.amf-france.org or BioAlliance Pharma S.A.'s website http://www.bioalliancepharma.com .
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