Date: 2014-03-19
Type of information: Milestone
Compound: Sitavig® (US)/Sitavir® (EU) (acyclovir Lauriad®)
Company: BioAlliance Pharma (France) Innocutis (USA - SC)
Therapeutic area: Infectious diseases
Type agreement: licensing
Action mechanism:
Disease: herpes labialis
Details: * On March 19, 2014, BioAlliance Pharma, a French company dedicated to the development of orphan oncology products, has announced the execution of a licensing agreement with Innocutis Holding LLC to commercialize Sitavig® in North America. Innocutis, based in Charleston (South Carolina), is a pharmaceutical company dedicated to dermatology, with “best-in-class” branded prescription products in skin related therapies. Innocutis deploys a direct sales force to promote its products to the fastest-adopting, highest-prescribing dermatologists in the United States, providing clinicians with improved solutions for managing the challenges presented in their daily practice. The american company will promote Sitavig® to dermatologists and top tier general practitioners alone, or with a sublicensee, allowing coverage of the largest panel of patients in the U.S. Product launch in the U.S. is expected as early as early third quarter 2014.
Financial terms: Under this agreement, BioAlliance Pharma is eligible to receive a total of $5 million in upfront and milestones payments. The agreement also includes double-digit royalties which should represent significant downstream revenues. In addition, Innocutis shall fund a major portion of the pediatric clinical study required by the FDA, as well as U.S. regulatory taxes. Locust Walk Partners, LLC served as transaction advisor to BioAlliance Pharma.
Latest news: * On July 21, 2014, Bioalliance Pharma announced the launch of Sitavig® (acyclovir Lauriad®) in the United States by its commercial partner, Innocutis Holdings. A few weeks after the execution of a licensing agreement between the two companies, Innocutis has begun the promotion of Sitavig® in the U.S. for the treatment of labial herpes to dermatologists and top tier general practitioners.
