BioAlliance Pharma has signed a licensing agreement with Vestiq Pharmaceuticals to commercialize its Oravig product in the U.S. for the treatment of oropharyngeal candidiasis in adults.
Oravig is sold as Loramyc in Europe, the companies noted in a press release. It is an antifungal agent administered as a mucoadhesive buccal tablet for treating oropharyngeal candidiasis in immunocompromised patients.
Under the terms of the agreement, BioAlliance should receive up to $44 million from Vestiq, the first $9 million corresponding to unconditional payments to be spread over 24 months. The agreement also includes significant royalties on sales, according to BioAlliance.
The companies are actively preparing the U.S. launch of Oravig, which should occur within the next few months.
BioAlliance received its first Loramyc marketing authorization in France in October 2006. Loramyc has since been registered in 26 European countries, South Korea, and the U.S.
