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Posted: January 30, 2008
BioAlliance Pharma Announces a 786% Increase in Revenues for the Fourth Quarter of 2007
(Nanowerk News) BioAlliance Pharma SA (Paris:BIO) has announced Q4 2007 revenues of 1418 thousand euros, in line with its forecast.
Q4 2007 highlights:
The turnover for the quarter was K€ 1418, versus K€ 160 for the corresponding period in 2006. This increase is mainly due to the revenue associated with licensing agreements signed in 2007 in Europe and the United States.
Loramyc® is currently being launched on the French market. Initial trends suggest that the product has been given a strong welcome by specialist prescribers. By the end of December 2007, the treatment had already been prescribed to 3000 patients. Purchasing by hospital and retail pharmacists has taken off, following product referencing with pharmaceutical wholesalers in September. After this initial take-off period, BioAlliance will pursue its sales & marketing investments in 2008 in order to amplify the momentum of Loramyc®'s launch for the treatment of oropharyngeal candidiasis in immunocompromised patients (cancer, HIV).
Cash and cash equivalents amounted to €56 million as of December 31 2007, enabling the company to achieve its stated growth targets.
In November 2007, BioAlliance Pharma accelerated its portfolio development by completing patient recruitment for the pivotal phase III Loramyc® trial in the United States. With regard to acyclovir Lauriad® in the treatment of recurrent oral herpes, the company has extended its international phase III trial to the United States.
BioAlliance Pharma published promising results for a new therapeutic entity (AMEP™) in the treatment of invasive melanoma, enabling the compound to enter an active regulatory study phase. The company's portfolio now features 7 compounds, including 3 in phase III.
BioAlliance Pharma signed an exclusive licensee agreement with Immtech Pharmaceuticals (AMEX: IMM) for the European sales rights to pafuramidine maleate – a sign of BioAlliance's credibility as a European player. Immtech is fully responsible for the phase III development of this product, currently put on clinical hold by the FDA.
"This fourth quarter has been very productive, in terms of both research and commercial activity. Loramyc®'s market launch in France represents the debut of our commercial revenue stream and, as a product that BioAlliance Pharma developed from start to finish, a great result for our corporate R&D.
Furthermore, it is worth emphasizing the development progress made by Loramyc®, acyclovir Lauriad® and doxorubicin Transdrug® - all three of which are in Phase III internationally.
Following grant of the first European MAAs in January 2008 in the United Kingdom (triggering payment of a €2.5 million license fee to BioAlliance Pharma) and Denmark, we are now preparing the Europe-wide launch of Loramyc® - the first step in our international expansion", commented Dominique Costantini, the company's President and CEO.
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®) in France and the compound 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® 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). For more information, visit BioAlliance Pharma's website at www.bioalliancepharma.com.
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 6 2007 under the number R. 07-031, which is available on the AMF website (http://www.amf-france.org) or on BioAlliance Pharma S.A.'s website (http://www.bioalliancepharma.com).