BioAlliance Pharma SA (Paris:BIO), an innovative Company
specialized in the development of drugs in orphan oncology diseases,
today announced the setup of a €10 million loan granted by its top
shareholder, FinanciÈre de la Montagne.
A BioAlliance Pharma shareholder since 2008, today its top shareholder
and member of its Board of Directors, FinanciÈre de la Montagne thus
confirms its commitment to the Company.
This loan helps strengthen the financial resources of BioAlliance
Pharma, and those of Onxeo following completion of the company’s merger
with Topotarget. In particular, the loan supports its R&D programs,
including the international phase III clinical trial with Livatag® in
primary liver cancer.
The loan is granted for a one-year period, until July 31st
2015, in the form of a shareholders’ current account and will bear a 15%
interest payable at maturity. Capital and interest are repayable in
cash, or in shares in case the company launches a capital increase prior
to the end of the loan agreement. The debt incorporated for the
subscription to the capital increase would then be increased by a 25%
« With this funding operation, FinanciÈre de la Montagne demonstrates
once again its confidence in the Company’s strategy, capacity for growth
and value creation, and I would like to warmly thank our leading
shareholder for this”, comments Judith Greciet, CEO of BioAlliance
Pharma. “This support allows us to fully commit to our vision to
become a leader in the field of orphan oncology diseases with the
creation of Onxeo”.
BioAlliance Pharma and Topotarget are merging to
create Onxeo, following approval of shareholders of both companies end
of June 2014.
Onxeo aims to become a leading orphan oncology
company. With a portfolio of advanced programs targeting severe orphan
oncology diseases for which there is an unmet medical need, Onxeo will
offer increased market attractiveness, notably towards specialized
international investors, using its scale and significant footprint as a
biotechnology leader with a growing portfolio of high value-added
Topotarget (NASDAQ OMX: TOPO) is a
Danish-based biopharmaceutical company headquartered in Copenhagen,
Denmark, dedicated to clinical development and registration of oncology
products. In collaboration with Spectrum Pharmaceuticals, Inc.,
Topotarget focuses on the development of its lead drug candidate,
belinostat, which has shown positive results in the treatment of
hematological malignancies and solid tumors, obtained by both mono- and
combination therapy. For more information, please refer to www.topotarget.com.
About BioAlliance Pharma
Dedicated to cancer treatments with
a focus on resistance targeting and orphan products, BioAlliance Pharma
conceives and develops innovative products for orphan or rare diseases.
in 1997 and introduced to the Euronext Paris market in 2005, BioAlliance
Pharma’s ambition is to become a leading player in these fields by
coupling innovation to patient needs. The company’s teams have the key
competencies required to identify, develop and register drugs in Europe
and the USA.
BioAlliance Pharma has developed an advanced product portfolio:
Orphan Oncology products
Transdrug™) (primary liver cancer): Phase III on going
(Clonidine Lauriad®) (mucositis): Phase II on going
(invasive melanoma): Clinical and Preclinical Phase
For more information, visit the BioAlliance Pharma web site at www.bioalliancepharma.com
This communication expressly or implicitly contains certain
forward-looking statements concerning BioAlliance Pharma SA and its
business. Such statements involve certain known and unknown risks,
uncertainties and other factors, which could cause the actual results,
financial condition, performance or achievements of BioAlliance Pharma
SA to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
BioAlliance Pharma SA is providing this communication as of this date
and does not undertake to update any forward-looking statements
contained herein as a result of new information, future events or
For a discussion of risks and uncertainties which could cause actual
results, financial condition, performance or achievements of BioAlliance
Pharma SA to differ from those contained in the forward-looking
statements, please refer to the Risk Factors ("Facteurs de Risque")
section of the 2013 Reference Document filed with the AMF on April 7,
2014, which is available on the AMF website (http://www.amf-france.org)
or on BioAlliance Pharma SA's website (www.bioalliancepharma.com).
Judith Greciet, CEO
+33 1 45 58 76 00
Carmagnol, +33 6 64 18 99 59
Source: BioAlliance Pharma SA