(adds 3 mln usd licence fee payment, other details)
PARIS (Thomson Financial) - BioAlliance Pharma SA said it plans to pursue
its strategy of acquisitions in the European oncology and HIV markets, despite
Immtech Pharmaceuticals Inc's decision to end a trial of pafuramidine, for which
BioAlliance has the European rights.
The French drug development company said it will continue its "strategy for
the targeted acquisition of complementary products".
Immtech announced late last Friday it will discontinue all development
programs for pafuramidine maleate in response to reports of liver and kidney
abnormalities among volunteers in a safety study involving the drug.
Bioalliance Pharma said its exposure is limited to the 3 mln usd or 2 mln
eur that it paid in December on signature of the European licensing agreement.
Pafuramadine was being tested for treatment of pneumonia in HIV patients and
for African sleeping sickness.
BioAlliance Pharma said it will announce its 2007 full-year results this
Friday and make additional statements on its portfolio and strategy.
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