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BioAlliance Pharma SA (Paris:BIO) announces a turnover of 3,836k Euros for the first quarter of 2008, a strong increase compared to the 113k Euros recorded for the same period in 2007.
Summary of key events in the first quarter of 2008:
* Loramyc® was granted five European Marketing Authorizations: in United Kingdom, Germany, Denmark, Belgium and Luxembourg. The first two MAs will allow BioAlliance Pharma to receive an additional payment of 4.5 million Euros from its partner SpePharm, in accordance with the joint-venture contract signed in 2007. Half of this amount has been included in the turnover for the first quarter as 50 % of the SpeBio joint venture is held by BioAlliance. The turnover of 3,836k Euros thus includes 2.25 million Euros linked to the European MAs, as well as a quota of payments on signature received in 2007 from the European joint-venture SpeBio and the exclusive license holder for the United States, PAR Pharmaceutical, which are spread over several years in accordance with IFRS standards.
* Signing, on March 28th, of an exclusive licensing agreement with the Korean company Handok for the marketing of Loramyc® in Korea, Taiwan, Singapore and Malaysia. This agreement includes payments spread over time for a total of 12 million US dollars, including 1.5 million dollars received in April. This amount has not been included in the first quarter turnover and will be spread over a period of 27 months starting on April 1, 2008.
* Continuation of the Loramyc® launch in France by the team of hospital sales representatives from the BioAlliance Pharma subsidiary. The interest of hospital specialists for the product has been largely confirmed with a 35% increase in treatment days between December 2007 and March 2008. This confirms the dynamics of the launch. Furthermore, an epidemiological observatory on esophageal candidiasis was started at the end of March in 35 centers, for a better assessment of hospital practice and treatment of this pathology.
"The beginning of 2008 has been marked by an acceleration in our international coverage, obtaining several MAs in Europe, a new agreement in Asia, and the commercial validation of our first product Loramyc®. The hospital launch in France has been in accordance with our forecasts" said Dominique Costantini, President and CEO of BioAlliance Pharma. "We are preparing for the first European launches in 2008 and the potential opening of the American market in 2009, following the positive results of the Loramyc® pivotal trial in the United States. The progress is major, both on a commercial and a development level."
About BioAlliance Pharma SA
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®) in France and already received European Marketing Authorizations in UK, Germany, Belgium, Denmark and Luxemburg. The compound has completed the pivotal 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® in oral herpes (based on the same Lauriad® muco-adhesive technology as Loramyc®, which enables targeted release at the disease site) and doxorubicin Transdrug® in primary liver cancer (based on the Transdrug® 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 infectious disease markets.
In 2007, the company has established strategic alliances for commercializing Loramyc® in Europe (with JV SpeBio) and the USA with Par Pharmaceutical. In March 2008, BioAlliance Pharma signed a partnership agreement with Handok Pharmaceuticals for commercializing Loramyc® in Korea, Taiwan, Singapore and Malaysia.
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 April 11, 2008 under the number R. 08-021, which is available on the AMF website (www.amf-france.org) or on BioAlliance Pharma S.A.'s website (www.bioalliancepharma.com).
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BioAlliance Pharma SA
+33 1 45 58 76 01
President and CEO
Nicolas Fellmann, CFO
+33 1 45 58 71 00
+33 6 64 18 99 59
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