Sosei Group Corporation ("Sosei"; TSE Mothers Index: 4565), the biopharmaceutical company, today announces that Sosei Co., Ltd., its wholly owned Japanese subsidiary, acquired development and commercialization rights to Loramyc(R) (miconazole Lauriad(R). Sosei development code: SO-1105) in Japan from BioAlliance Pharma.
Loramyc(R) is an antifungal agent, administered as a muco-adhesive buccal tablet for the treatment of oropharyngeal candidiasis in immunocompromised patients. BioAlliance received its first Loramyc(R) marketing authorization in France in October 2006. Loramyc(R) has since been registered in 26 European countries, in South Korea, and in the United States.
Under the terms of the agreement, Sosei will pay BioAlliance an upfront license fee of $3 million and further development and sales-based milestones totaling up to a maximum of $18.5 million. Sosei will also pay royalties on net sales of the product.
By acquiring development and commercialization rights to Loramyc(R) Sosei will broaden its development pipeline and continue with its strategy of bringing products that are in the late stage of development or already marketed in the West to Japan.
Shinichi Tamura, CEO of Sosei Group Corporation, commented: "We are very pleased to be teaming up with BioAlliance Pharma on this innovative product. Loramyc(R) has the potential to become the first treatment in tablet form for oropharyngeal candidiasis in Japan, to provide an important addition to available treatments, and to enhance patients' compliance and improve their quality of life."
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