Date: 2014-04-01
Type of information: Licensing agreement
Compound: Oravig® (miconazole Lauriad™ - Loramyc® in Europe)
Company: Bioalliance Pharma (France) Vestiq Pharmaceuticals (USA)
Therapeutic area: Infectious diseases
Type agreement: licensing
Action mechanism:
Disease: oropharyngeal candidiasis
Details: * On July 19, 2012, BioAlliance Pharma, a company dedicated to the development of orphan oncology products and to supportive care products, has signed a binding term sheet with Vestiq for the commercialization rights in the United States of Oravig® (known as Loramyc® in Europe) for the treatment of oropharyngeal candidiasis in adults. BioAlliance Pharma has just finalized the final terms of a partnership agreement with Vestiq, which will enter into force as early as next September. Based in North Carolina, Vestiq is a private company specialized in supportive care. It has a team of more than 70 medical representatives who will promote Oravig® to the American practitioners. Vestiq is already commercializing synergistic products in this domain.
Financial terms: Under this license agreement, BioAlliance Pharma should receive up to $44 million from Vestiq including significant unconditional payments and payments linked to sales performance. Sales royalties will also be paid to BioAlliance Pharma. Moreover, Vestiq should become the Marketing Authorization Holder of the product in the United States and would therefore be in charge of related costs.
Latest news: * On April 1, 2014,BioAlliance Pharma has updated on Loramyc®/Oravig® development programs by its Asian partners and on its US partnership. In the United States, after one year of marketing by Vestiq Pharmaceutical, the sales performance of Oravig® was not meeting the expectations. Consequently, BioAlliance Pharma has decided to regain full U.S. commercialization rights for Oravig® as well as the New Drug Application. The Company is already in advanced discussions with potential partners for the acquisition or for a licensing agreement of the product.
* On January 7, 2013, BioAlliance Pharma has announced the launch of Oravig® (known as Loramyc® in Europe) in the United States by its commercial partner, Vestiq Pharmaceuticals. Just three months after the signature of the license agreement between the two companies, commercial teams have begun the active promotion of Oravig® to US prescribers and wholesalers.* On September 24, 2012, BioAlliance Pharma has announced the execution of the licensing agreement with Vestiq Pharmaceuticals to commercialize Oravig® in the United States (known as Loramyc® in Europe) for the treatment of oropharyngeal candidiasis in adults. At this stage, BioAlliance Pharma and Vestiq are actively preparing the US launch of Oravig® that should occur within the next few months.
