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BioAlliance Pharma and Therabel Group deal

Therabel Group is to pay BioAlliance Pharma for the European commercialisation rights to antifungal, Loramyc, and antiemetic, Setofilm

In a deal worth up to €48.5m, Therabel Group, which has a strong presence in the Benelux countries, is to pay French company BioAlliance Pharma for the European commercialisation rights to its products, Loramyc, an antifungal, and Setofilm, an antiemetic.

Therabel will pay €6.5m in upfront payments, comprising €4.5m at signature and two annual payments of €1m each at the end of 2011 and 2012. An additional €3m will relate to Loramyc reimbursement in three EU countries. The subsequent payments are linked to sales performance for the two products and include significant royalties.

Further, the agreement incorporates an equity investment from Therabel as a strategic partner in BioAlliance for €3m, subject to shareholders' approval at the next general assembly meeting on April 22.

"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," stated Dominique Costantini, president and CEO of BioAlliance Pharma.

“It offers 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 the strategic committee of Therabel Group, added: "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 BioAlliance's areas of excellence."

7th April 2010

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