Bioalliance Pharma Licenses Loramyc to Par Pharmaceutical
BioAlliance Pharma announced it has entered into an exclusive licensing agreement with Par Pharmaceutical in which Par will receive commercialization rights in the U.S. to Loramyc, an antifungal therapy currently in Phase III testing for the treatment of oropharyngeal candidiasis, an opportunistic infection found in immunocompromised patients.
Under this agreement, BioAlliance said it will receive an initial payment of $15 million. BioAlliance may also receive up to $50 million in additional milestones, including $20 million upon FDA approval and up to $30 million in milestone payments on future sales.
Loramyc (miconazole Lauriad) is an antifungal delivered in a mucoadhesive buccal tablet, enabling an early and extended release of the active ingredient at the site of the infection with once-daily dosing, the companies said.
The ongoing pivotal Phase III trial for Loramyc involves 540 patients at 40 sites in the U.S., Canada and South Africa, according to the companies.