Home > Press > Immtech and BioAlliance Sign Licensing Agreement for Pafuramidine
Immtech Pharmaceuticals, Inc. announced today that the Company has granted an exclusive license to BioAlliance Pharma SA to commercialize Immtech's oral drug, pafuramidine maleate (pafuramidine), in Europe for the treatment of pneumocystis pneumonia (PCP) in AIDS patients and for the treatment of Human African trypanosomiasis, also known as African sleeping sickness. Pafuramidine is currently in Phase III clinical trials for these two indications. Immtech also granted to BioAlliance an option to commercialize pafuramidine in Europe for prevention and treatment of malaria in travelers.
Immtech and BioAlliance Sign Licensing Agreement for Pafuramidine
New York, NY | Posted on December 5th, 2007
Pursuant to the agreement, Immtech will receive an initial payment of $3 million from BioAlliance. An additional $13 million will be paid to Immtech as pafuramidine advances through European regulatory approval and pricing. Immtech will also receive additional payments based on sales milestones and significant double-digit royalties on sales. BioAlliance has an option to commercialize pafuramidine for malaria prophylaxis in Europe, and BioAlliance would contribute to funding clinical development costs. Additional regulatory, pricing, and sales milestone payments to Immtech and royalty payments based on sales would also be paid by BioAlliance.
"We are delighted to be collaborating with BioAlliance to launch pafuramidine in Europe," said Eric L. Sorkin, Chairman and Chief Executive Officer of Immtech. "BioAlliance's development and marketing expertise, as evidenced by the recent launch of Loramyc(R) in Europe for the treatment of HIV and cancer, demonstrate BioAlliance's proven capabilities in this market. We believe BioAlliance's valuable experience in working with patients and healthcare providers will be a vital asset supporting the success of pafuramidine in Europe."
PCP is a deadly fungal infection of the lungs and the most common opportunistic infection in people living with HIV, the virus that causes AIDS. It also affects people with severely compromised immune systems due to cancer or immunosuppressive therapy (e.g., chemotherapy or following organ transplantation).
Dominique Costantini, Chief Executive Officer of BioAlliance, said, "We are excited to be teaming up with Immtech and we will work together to have a significant impact on PCP, a devastating disease. As represented to our investors last July, we are adding advanced products to complement our own portfolio. Considering the franchise we are building in products to treat cancer and AIDS patients, pafuramidine, with its attractive activity on resistant strains, is the first ideal strategic product complementing perfectly our portfolio: Loramyc, doxorubicin Transdrug and acyclovir Lauriad, all of which are either already approved or in phase 3 for oncology or infectious disease indications."
Current treatment options for PCP include Trimethoprim-sulfamethoxazole (TMP-SMX), primaquine plus clindamycin, trimetrexate (with or without dapsone) plus leucovorin, atovaquone, and pentamidine. The adverse events associated with currently available treatment options for PCP leads to between 20-57% of all patients being switched to better tolerated regimens during their course of care.
The development of pafuramidine for the treatment of PCP was sponsored in part by a National Cooperative Drug Discovery Groups grant from the National Institutes of Health, U.S. Department of Health and Human Services, to the University of North Carolina at Chapel Hill. Pafuramidine was initially synthesized at Georgia State University, which is a member of Immtech's Scientific Consortium.
About Immtech Pharmaceuticals, Inc.
Immtech Pharmaceuticals, Inc. is focused on developing and commercializing drugs to treat infectious diseases. Immtech has advanced clinical programs that include new oral treatments for pneumocystis pneumonia (PCP), malaria, and trypanosomiasis (African sleeping sickness), and a well defined, expanding library of compounds targeting hepatitis C, fungal infections, and bacterial infections. Immtech holds exclusive worldwide licenses to certain patents, patent applications and technology for products derived from a proprietary pharmaceutical platform. For additional information, please go to http://www.immtechpharma.com .
About BioAlliance Pharma
BioAlliance Pharma SA is a specialty pharmaceutical company focused on the treatment of opportunistic infections in cancer and HIV. The company develops and commercializes innovative products which address resistance issues. The company has launched its first portfolio product (Loramyc(R)) in France, which is currently in Phase III clinical development in oropharyngeal candidiasis in the USA. In addition, two other innovative products are currently in phase III clinical trials: acyclovir Lauriad(R) in oral herpes (based on the same Lauriad(R) muco-adhesive technology as Loramyc(R), which enables targeted release at the disease site) and doxorubicin Transdrug(R) in primary liver cancer (based on the Transdrug(R) nanoparticle technology, designed specifically for intracellular targeting of resistant cells). The company is also developing a new therapeutic entities program focused on the oncology and HIV markets. In 2007, the company has established strategic alliances for commercializing Loramyc(R) in Europe (with JV SpeBio) and the USA (with Par Pharmaceutical). For more information, visit http://www.bioalliancepharma.com .
"Safe Harbor" Statement under the Private Securities Reform Act of 1995: Statements in this press release regarding Immtech Pharmaceuticals, Inc.'s business, including the future prospects for PCP, which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Actual results could differ materially from these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in Immtech's annual report on Form 10-K for the year ended March 31, 2007 and in its other SEC filings and include: (i) Immtech's ability to develop commercially viable products; (ii) Immtech's ability to achieve profitability; (iii) Immtech's ability to retain key personnel; (iv) the ability of Immtech's scientists and collaborators to discover new compounds; (v) the availability of additional research grants; (vi) Immtech's ability to obtain regulatory approval of its drug candidate, including PCP; (vii) the success of Immtech's clinical trials; (viii) dependence upon and contractual relationship with partners; (ix) Immtech's ability to manufacture or to have a third party manufacture its drug candidate at a reasonable cost; (x) Immtech's ability to protect its intellectual property; (xi) competition and alternative technologies; (xii) Immtech's ability to obtain reimbursement from third party payers for any product it commercializes; and (xiii) potential exposure to significant product liability.
For more information, please click here
One North End Avenue
New York, NY 10282
P • 212.791.2911
F • 212.791.2917
Copyright © PR Newswire Association LLC.
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
NYU Researchers Break Nano Barrier to Engineer the First Protein Microfiber October 23rd, 2014
Iranian Scientists Apply Nanotechnology to Produce Surgery Suture October 23rd, 2014
RF Heating of Magnetic Nanoparticles Improves the Thawing of Cryopreserved Biomaterials October 23rd, 2014
Sopping up proteins with thermosponges: Researchers develop novel nanoparticle platform that proves effective in delivering protein-based drugs October 22nd, 2014
Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014
QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014
Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014
Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014
Researchers patent a nanofluid that improves heat conductivity October 22nd, 2014
Nanodevices for clinical diagnostic with potential for the international market: The development is based on optical principles and provides precision and allows saving vital time for the patient October 15th, 2014
Aculon Receives Patent for Application of Enhanced Bonding Layers on Titanium October 9th, 2014
harmaEngine will join Nanobiotix’ pivotal trial for NBTXR3 in Soft Tissue Sarcoma to accelerate its development in Asia-Pacific: PharmaEngine to make milestone payment to Nanobiotix in October 2014 to recognize the value created October 8th, 2014
European Commission opens the gate towards the implementation of Nanomedicine Translation Hub October 16th, 2014
IRLYNX and CEA-Leti to Streamline New CMOS-based Infrared Sensing Modules Dedicated to Human-activities Characterization October 15th, 2014
New VDMA Association "Electronics, Micro and Nano Technologies" founded: Inaugural Meeting in Frankfurt/Main, Germany October 15th, 2014
VDMA photonics steering committee with new members stronger than ever October 14th, 2014