BioAlliance Pharma Strengthens Its Financial Resources with the Support of Its Top Shareholder
July 18 2014 - 11:45AM
Business Wire
Regulatory News:
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% premium.
« 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”.
About OnxeoBioAlliance 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 products.
About TopotargetTopotarget (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 PharmaDedicated to cancer treatments
with a focus on resistance targeting and orphan products,
BioAlliance Pharma conceives and develops innovative products for
orphan or rare diseases.Created 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 productsLivatag® (Doxorubicin Transdrug™)
(primary liver cancer): Phase III on goingValidive® (Clonidine
Lauriad®) (mucositis): Phase II on goingAMEP®/Synfoldin (invasive
melanoma): Clinical and Preclinical Phase
For more information, visit the BioAlliance Pharma web site at
www.bioalliancepharma.com
Disclaimer
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 otherwise.
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).
BioAlliancePharma SAJudith Greciet,
CEOjudith.greciet@bioalliancepharma.comNicolas Fellmann,
CFOnicolas.fellmann@bioalliancepharma.comTel.: +33 1 45 58 76
00orALIZE RPCaroline Carmagnol, +33 6 64 18 99
59bap@alizerp.com
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