BioAlliance signs licencing agreement for Oravig

BioAlliance has signed a licencing deal with Vestiq for the commercialisation oral thrus drug Oravig in the US.

BioAlliance Pharma has signed a new licencing contract with Vestiq Pharmaceuticals to commercialise its Oravig treatment for adult oropharyngeal candidiasis in the US.

The drug, known as Loramyc in Europe is used to treat the oral infection, which is caused by the fungus Candida, and is more commonly called oral thrush.

Under the terms of the agreement, the company, which develops orphan oncology and supportive care products, will receive $44 million from Vestiq.

The agreement also includes royalties on sales of the drug in the territory, with Oravig expected to be launched in the US within the next few months.

Judith Greciet, chief executive of BioAlliance Pharma, said that the agreement should allow for the development of the drug's commercial potential in North America.

This was a sentiment echoed by Vestiq's chief executive Martin Baum, who said: "It is with great enthusiasm that we are initiating this collaboration with BioAlliance Pharma.

"Oravig will become a key pharmaceutical product in our portfolio. It perfectly fits with Vestiq’s development strategy in the area of oncology supportive care."