BioAlliance Pharma inked a licensing agreement with Innocutis Holding to commercialize Sitavig® (acyclovir Lauriad®) for the treatment of recurrent labial herpes in North America. The company is eligible to receive a total of $5 million in upfront and milestone payments. The agreement also includes double-digit royalties.
In addition, BioAlliance received a positive opinion from the Health Authorities in France and Germany for the Market Authorization of the drug. Sitavig had already been registered in eight European countries through a decentralized procedure in December 2012. As its registration strategy, the company had filed in these countries first to ensure optimized registration timelines, and then filed a mutual recognition procedure in France and Germany.
“We are delighted with this agreement with Innocutis, a strategic U.S. partner with a highly skilled management team and a dedicated sales force, and we trust this collaboration will ensure the rapid and successful commercialization of Sitavig® in the U.S., the largest sales potential market, estimated up to $500M,” commented Judith Greciet, CEO of BioAlliance Pharma. “In Europe, regulatory procedure has been finalized with success and Sitavig® is now approved in all key countries. Indeed, we are confident that it will significantly help licensing discussions with potential European partners, already fairly well advanced.”