BioAlliance to merge with Topotarget
Cancer companies BioAlliance Pharma S.A. (Euronext:BIO) and Topotarget A/S (CSE:TOPO) will merge in a stock deal to create a company focused on Orphan cancers. Topotarget shareholders will own about a third of the combined company, and BioAlliance shareholders will own the balance. BioAlliance CEO Judith Greciet will be CEO of the combined company, which will retain BioAlliance's name and will be dual listed on Euronext and NASDAQ OMX. BioAlliance Chairman Patrick Langlois will be chairman of the combined company.
Topotarget's Beleodaq belinostat is under Priority Review by FDA for relapsed or refractory peripheral T cell lymphoma (PTCL), with an Aug. 9 PDUFA date. Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) has North American and Indian rights to belinostat from Topotarget. BioAlliance's pipeline includes Livatag doxorubicin Transdrug ( BA-003), which is in a Phase III trial for hepatocellular carcinoma (HCC), with data expected in 2016. BioAlliance also has two approved non-cancer products: Sitavig acyclovir Lauriad for recurrent orofacial herpes; and Oravig/ Loramyc miconazole for oropharyngeal candidiasis. BioAlliance had 2013 sales of EUR 1.5 million ($2 million), while Topotarget had DKK8.3 million ($1.5 million) in revenues for the year. ...