BioAlliance extends Loramyc license to China

Paris, France-based BioAlliance Pharma SA, which is focused on the treatment of opportunistic infections in cancer and HIV, has entered into an exclusive licensing agreement under which NovaMed Pharmaceuticals will receive commercialization rights in China for Loramyc (miconazole Lauriad), the French firm's innovative, muco-adhesive antifungal therapy. The agent is already approved in Europe and has completed a Phase III clinical trial in the USA in immunocompromized patients.

BioAlliance's partnership with NovaMed represents an all-important entry into the fast-growing China market. The deal could potentially generate $4.5 million through a combination of licensing cash on signing and milestones. Royalty commensurate with the product stage will also be received.

"Novamed has rapidly built critical mass in the Chinese oncology market and today enjoys partnering agreements with Baxter, Pfizer, Sanofi-Aventis," said Dominique Costantini, BioAlliance' chief executive. She added: "we shall continue our efforts to make Loramyc available worldwide and specifically in countries like China, through strategic partnerships."