BioAlliance Pharma signs license agreement with Therabel
The company has entered into an exclusive partnership with Therabel group, landing it €48.5m.
The exclusive partnership agreement concerns the European commercialisation rights of Loramyc and Setofilm and the associated French commercial structure to a newly established entity, Therabel Hopital Pharma.
Furthermore, the agreement also contemplates an equity investment from Therabel as a strategic partner in BioAlliance Pharma for €3m. This share increase will be subject to shareholders' approval at the next general assembly meeting on 22 April.
Dominique Costantini, president and CEO of BioAlliance Pharma, said: "We are delighted with this agreement with Therabel as Therabel represents an ideal strategic European partner with a hospital presence in supportive care and pain management.
"They offer an existing sales structure as well as all the market access support necessary these days to ensure the commercial success of our products. This agreement will bring recurrent royalty revenues to BioAlliance."
Jean-Michel Robert, president of strategic committee at Thermal Group, said: "This significant agreement strongly emphasises our growth strategy, particularly in Europe in the supportive care area in the hospital setting.
"Our marketing experience as well as our promotional forces and our European coverage represent an ideal fit with Bio Alliance's areas of excellence. We are delighted to add Loramyc and Setoff to our portfolio. These innovative products will enable us to become very competitive in the hospital field."