Specialty Pharma company BioAlliance Pharma SA has entered into an exclusive licensing agreement with NovaMed Inc., under which NovaMed Pharma will receive the commercialization rights in China for Loramyc therapy.
Loramyc, or miconazole Lauriad, is a muco-adhesive antifungal therapy, which is approved in Europe. The therapy has completed a phase III clinical trial in the US for immunocompromised patients. BioAlliance, which focuses on the treatment of cancer and HIV infections. The deal could potentially generate US$4.5 million via a combination of licensing cash on signing and milestones. Royalty proportionate with the product stage will be received.
NovaMed intends to register and in China, and following marketing approval launch the same. According to Hao Zhou, VP business development at NovaMed Pharma Loramyc is a good fit product wise and it will strengthen company's position in the supportive care segment of the fast growing oncology segment in China.