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Topotarget and Bioalliance to merge

Read time: 1 mins
Last updated:19th Apr 2014
Published:19th Apr 2014
Source: Pharmawand
BioAlliance Pharma SA a company specialized in the development of drugs within orphan oncology diseases, and Topotarget A/S a Danish biopharmaceutical company, announced their intention to merge to create a leading orphan oncology company with a highly complementary pipeline of late-stage products addressing significant unmet medical needs. The merger agreement has been unanimously approved by the Boards of Directors of both companies. Under the terms of the merger agreement, BioAlliance Pharma will be the continuing company and shares issued by Topotarget will be exchanged to the effect that shareholders of Topotarget will receive 2 newly issued shares in BioAlliance Pharma for each 27 Topotarget shares held, resulting in the shareholders of Topotarget owning approximately 1/3 of the shares in the merged company, while existing shareholders of BioAlliance Pharma will hold approximately 2/3. Topotarget�s primary product, belinostat, is a novel pan-HDAC (histone deacetylase) inhibitor with more than 1,100 patients treated. BioAlliance Pharma has two products in late-stage development Livatag is currently in a pivotal phase III clinical trial in primary liver cancer, with potential estimated sales of EUR 800 million and patent protection until 2032 and Validive, the second most advanced product of BioAlliance Pharma�s orphan oncology program, which has Fast Track Designation by the FDA for the prevention and treatment of oral mucositis induced by anticancer treatments.

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