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BioAlliance Pharma (Paris:BIO) was informed that a civil action was filed in Delaware by Eurofins Pharma US Holding Inc. and one of its affiliates Viralliance Inc. (« Eurofins ») against BioAlliance Pharma and one of its executives. The action concerns the use of intellectual property related to the HIV phenotyping technology called Phenoscript®, which tests resistance to anti-retroviral drugs that BioAlliance developed prior to 2005 in collaboration with INSERM and the Institut Pasteur.
BioAlliance transferred its rights to intellectual property and licenses to Eurofins at the end of 2005 for the purpose of commercial development in the United States, Eurofins having put forward its desire for growth in the US and BioAlliance its desire to focus its development activity on innovative therapeutic products (HIV, cancer, opportunistic infections).
Eurofins alleges that the value of the assets transferred is compromised by the rights of a third party which rights existed prior to the transfer and were nor disclosed, and that a new invention developed by BioAlliance Pharma should have been offered to it.
To this end Eurofins seeks to rescind the contract related to the transfer, as well as compensatory and punitive damages. It also seeks a judicial declaration to establish its right to this new technology that was not offered to it.
BioAlliance contests the merit of these allegations and moreover considers that only the courts in Paris have jurisdiction over this case.
BioAlliance will pursue its rights before a court of competent jurisdiction.
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 drug resistance issues. BioAlliance Pharma has launched its first portfolio product (Loramyc®) in France and, more recently, in the UK, Germany and Denmark, and has already received European Marketing Authorizations in Belgium and Luxemburg. The product has also completed a pivotal Phase III clinical trial in the United States in oropharyngeal candidiasis. The company is also performing a Phase III trial in labial herpes with acyclovir Lauriad® (which is based on the same Lauriad® muco-adhesive technology as Loramyc®, enabling targeted release at the disease site). BioAlliance Pharma also has a second technology (the Transdrug® nanoparticle technology, designed specifically for intracellular targeting) and, furthermore, is developing a new therapeutic entities program in oncology and infectious disease. BioAlliance Pharma has established several strategic alliances for commercializing Loramyc®, with agreements in 2007 for Europe (with the SpeBio joint venture) and the United States (with Par Pharmaceutical) and in 2008 for Asia (Korea, Malaysia, Singapore and Taiwan with Handok Pharmaceuticals and then China with Novamed). In May and August 2008, the company expanded its product portfolio by acquiring the Europe commercial rights to, respectively, ondansetron Oral Spray (OS) from NovaDel Pharma Inc. (Amex: NVD) and ondansetron RapidFilmTM from APR/Labtec.
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).
For more information, please click here
BioAlliance Pharma SA
Dominique Costantini, President and CEO
Tel.: +33 1 45 58 76 01
Nicolas Fellmann, CFO
Tel.: +33 1 45 58 71 00
Tel.: +33 6 64 18 99 59
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