Vestiq Pays $44M to Market BioAlliance’s Oravig in the U.S.
Vestiq wil pay BioAlliance Pharma up to $44 million for commercialization rights to the latter’s Oravig® (miconazole Lauriad™) therapy for oropharyngeal candidasis in immunocompromised adults. BioAlliance will in addition receive royalties on Vestiq’s sales of the drug.
Loramyc is a mucoadhesive gingival tablet developed using BioAlliance’s Lauriad oral delivery system. The gingival tablet has been designed to remain in place in the oral cavity (in the canine fossa) where it gradually releases the active pharmaceutical ingredient. Miconazole Lauriad is also approved in Europe under the brand name Loramyc®. BioAlliance had previously licensed Oravig in the U.S. to PAR Strativa but, following a restructuring by PAR, regained its rights to the drug in September 2011.
New U.S. commercialization partner Vestiq is a North Carolina-based firm specialized in supportive care, which already commercializes complementary products. “Oravig is the first product registered by BioAlliance with the FDA,” comments Judith Greciet, BioAllaince CEO. “Having Oravig on the U.S. market is a key achievement to us. The marketing expertise of Vestiq management, the synergy with existing products, and the sales representative coverage are guarantees of this partnership’s future success.”
Earlier this month BioAlliance reported that its Japanese development partner Sosei had completed a Phase I clinical trial with Loramyc in Japan. BioAlliance and Sosei sealed their $18.5 million deal giving the latter home rights to the drug back in May 2011.
BioAlliance is separately developing Lauriad formulations of acyclovir (Sitavir®) for treating recurrent orofacial herpes in immunocompetent patients, and a fentanyl Lauriad for treating chronic cancer pain. A regulatory dossier for Sitavir was submitted for review by the European regulator in October 2011.