Sosei Pays BioAlliance $3M Up Front for Japanese Rights to Oropharyngeal Candidiasis Drug
Company could receive another $15.5 million in milestones plus sales royalties.!--h2>
Sosei is paying BioAlliance Pharma $3 million up front for Japanese commercialization rights to the latter’s oropharyngeal candidasis drug Loramyc® (miconazole Lauriad™) mucoadhesive buccal tablets. BioAlliance could receive another $15.5 million in commercialization and milestone payments, plus future royalties from sales in Japan. Loramyc is already approved in 28 countries including the EU, U.S. (where it is trade-named Oravig™), and Korea.
Loramyc is based on BioAlliance’s Lauriad oral delivery technology, which specifically targets the mucus membranes without systemic transfer. In March BioAlliance received €743,000 (roughly $1.1 million) from Fond Unique Interministériel (a French program supporting collaborative research projects) to support research within a €2 million (about $2.9 million) collaborative program that aims to establish proof-of-concept for delivering biological products via the mucosal route. The first potential application will be a peptide delivered using the Lauriad mucoadhesive technology.