April 2, 2014
BioAlliance Pharma SA, an innovative Company specialized in the development of drugs in orphan oncology diseases, today announces an exclusive supply and license agreement for Sitavig® (Acyclovir Lauriad®) with Daewoong Pharmaceutical Co., Ltd. for commercialization rights in South Korea. Moreover, Daewoong will be in charge of registering Sitavig® in South Korea.
Under this agreement, BioAlliance Pharma is eligible to receive significant upfront and milestones payments. The agreement also includes a double-digit royalty rate which should represent high downstream revenues.
Indicated for the treatment of recurrent labial herpes, Sitavig® is registered in the United States and in 10 major European countries.
Daewoong Pharmaceutical Co., Ltd. is an international drug manufacturing and distribution company headquartered in Seoul, and it also holds its presence over major Asian markets, including China and India. The Company is an expert at managing prescription drugs and has been ranked first on this market for many years in Korea.
“We are delighted with this agreement with Daewoong, a strategic and leading partner in the Korean market. We are very confident in their ability to dedicate their expertise and sales structure to make Sitavig® the preferred treatment of recurrent herpes labialis in their territory. Shortly after the licensing agreement signed with Innocutis for North America, this new collaboration opens Sitavig®’s presence in the Asian market,” comments Judith Greciet, CEO of BioAlliance Pharma.
“We are very pleased to be teaming up with BioAlliance Pharma and to add such an innovative product to our portfolio. Sitavig® has the potential to become a top-line treatment for recurrent herpes labialis and will help us to make our portfolio more attractive and very competitive in the infection field,”adds Jong-Wook Lee, CEO of Daewoong Pharmaceutical Co., Ltd.
Based on proprietary Lauriad® technology, Sitavig®, patented worldwide until 2027 and in some territories until 2029, comes in the form of a mucoadhesive tablet which the patient places on the gum and which delivers a high concentration of acyclovir directly to the lip, the site of the cold sore infection. In addition to its efficacy, Sitavig® offers the major advantage of a particularly unobtrusive and simple formulation with a single application for the episode’s entire duration, representing major advantages for patients suffering from recurrent herpes sores.
About Daewoong Pharmaceutical Co., Ltd.
Established in 1945, Daewoong Pharmaceutical Co., Ltd. has the largest prescription drug sales in Korea and envisions itself to become a top 50 global healthcare company by 2015.
In addition to its product portfolio, which includes 15 blockbuster products, Daewoong has built strong core competency for new drug development and has cultivated a cooperative culture for collaboration with global partners.
In the future, Daewoong will expand its global business with its foreign branches and global partners and become a global healthcare group which contributes to improving the quality of life for people worldwide.
About BioAlliance Pharma
Dedicated to cancer treatments with a focus on resistance targeting and orphan products, BioAlliance Pharma conceives and develops innovative products for orphan or rare diseases.
Created in 1997 and introduced to the Euronext Paris market in 2005, BioAlliance Pharma’s ambition is to become a leading player in these fields by coupling innovation to patient needs. The company’s teams have the key competencies required to identify, develop and register drugs in Europe and the USA.
BioAlliance Pharma has developed an advanced product portfolio:
Orphan Oncology products
Livatag® (Doxorubicin Transdrug™) (primary liver cancer): Phase III on going
Validive® (Clonidine Lauriad®) (mucositis): Phase II on going
AMEP® (invasive melanoma): Phase I on going
For more information, visit the BioAlliance Pharma web site at www.bioalliancepharma.com
Products from the Lauriad® platform
Loramyc®/Oravig® (oropharyngeal candidiasis in immunocompromised patients): Registered in 21 countries (EU, U.S., Korea), commercialized in Europe and in the U.S.
Sitavig® (Acyclovir Lauriad®) (labialis herpes): Registered in the U.S. and in 10 European countries
BioAlliance Pharma SA
Judith Greciet, CEO
Nicolas Fellmann, CFO
Tel.: +33 1 45 58 76 00
+33 6 64 18 99 59