BioAlliance Pharma Closes 12 Million Euros Series C Financing with Additional 2 Million Euros from Siparex Ventures; Proceeds to fund lead product candidates in oncology and HIV.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- BioAlliance Pharma SA, a privately held biopharmaceutical company focused on the field of drug resistance, today announced that it has raised an additional 2.0 million euros (2.4 million dollars) to top off its third round of financing at 12 million euros (14.7 million dollars). In a round led by Auriga Partners, the additional investment came from Siparex Ventures, the venture capital arm of one of the leading private equity management companies in France. Two other new investors, ING, the Dutch bank and insurance company, and the French Co-Investment Fund (FCJE) also participated in the round along with previous investors Capricorn Venture Partners, ABN-AMRO Capital France, and SPEF SPEF Standard Parasitic Exchange Format SPEF Scottish Print Employers Federation SPEF South Pasadena Educational Foundation (South Pasadena, California) SPEF Single Program Element Funding SPEF Special Program Element Funding Ventures. Pascal Demichel, Senior Investment Manager at Siparex Ventures, joins the BioAlliance Pharma Supervisory Board as a result of this investment. "The quality of the new investors and the ongoing commitment of our previous investors is a significant vote of confidence in our development programs," said Dominique Costantini, BioAlliance Co-Founder, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We are very pleased to have attracted a firm as outstanding as Siparex Ventures to complete this round of financing and are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. for the support shown by our investors in the BioAlliance business model." The proceeds will enable BioAlliance to fund the development of a portfolio of drug candidates, including its Miconazole-Lauriad(TM) product. This is a once-a-day buccal bio-adhesive tablet developed to provide improved anti-fungal therapy for treatment of oropharyngeal oropharyngeal /oro·pha·ryn·ge·al/ (-fah-rin´je-al) 1. pertaining to the mouth and pharynx. 2. pertaining to the oropharynx. candidiasis candidiasis (kăn'dĭdī`əsĭs), infection of the mucous membranes caused by the fungus Candida albicans. Other terms for candidiasis are yeast infection, moniliasis (after a former name of the fungal genus), and thrush, the in a broad range of immune compromised patients, including cancer and HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. patients receiving chemotherapy or immuno-suppressive drugs, insulin dependent diabetics and the elderly. Miconazole-Lauriad(TM) is currently in two Phase III clinical trials in Europe, one in HIV patients and the other in head and neck cancer patients following radiotherapy. The Company intends to file an IND later this year to conduct a Phase III clinical study in the U.S. The funding will also support advancement of Doxorubicin-Transdrug(TM), based on the Company's proprietary nanoparticle technology. Doxorubicin-Transdrug(TM) is currently in a Phase I/II trial being conducted at clinical sites in France for treatment of primary liver cancer, hepatocellular carcinoma (HCC HCC Hepatocellular Carcinoma (liver cancer) HCC Hertfordshire County Council (administrative region of south eastern England UK) HCC Harford Community College (Maryland) ). "We are very excited to be investors in BioAlliance," said Pascal Demichel. "BioAlliance combines a powerful proprietary product pipeline with a stellar management team and we are confident that the Company will develop into one of the truly significant biopharmaceutical success stories in Europe." "The Lauriad and Transdrug programs, together with the NCEs which the company has acquired in oncology and HIV, make for an enormously exciting product potential that may represent a significant advance for cancer and HIV patients," noted Olivier Younes, Senior Associate, Siparex Ventures. "BioAlliance has unique access to potentially best-in-class projects and is leveraging that access to develop a potent pipeline of products." About BioAlliance Pharma BioAlliance Pharma is a privately held biopharmaceutical company focused on the development and commercialization of innovative therapeutics and predictive assays in the field of drug resistance, targeting cancer and infectious diseases, including in particular HIV. The Company has a balanced portfolio of products and proprietary technologies in various stages of development, from preclinical research to a product approved for marketing. To supply this pipeline of products, BioAlliance maintains a unique network of alliances with leading academic investigators from French research institutions, including the Centre National de la Recherche Scientifique The Centre national de la recherche scientifique ("National Scientific Research Centre", CNRS) is the largest governmental research organization in France. It involves 26,000 permanent staff (researchers, engineers, and administrative staff) and a further 4,000 temporary (CNRS CNRS Centre National de la Recherche Scientifique (National Center for Scientific Research, France) CNRS Centro Nacional de Referencia Para El Sida (Argentinean National Reference Center for Aids) ), the Institut National de la Sante et de la Recherche Medicale (Inserm) and the Institut Pasteur, among others. For additional company background, please visit the BioAlliance Pharma web sites at: www.BioAlliancepharma.com and www.viralliance.com. About Sigefi Venture Gestion (Siparex Ventures) Sigefi Ventures Gestion manages 242 million euros in assets, including 42 million euros in the US, where the group has been operating for 17 years. Investments are concentrated predominantly in the sectors of Information Technology, Security and the Life Sciences. Sigefi Ventures Gestion is the venture capital subsidiary of Sigefi Private Equity (Siparex group), one of the leading independent private equity investors in France, with 813 million euros assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . The team in charge of venture capital investments, with bases in Paris, Lyon and San Mateo, California San Mateo is a city in San Mateo County, California, in the San Francisco Bay Area. It is one of the larger suburbs on the San Francisco Peninsula, located between Burlingame to the north, Foster City to the East, and Belmont to the south. , is made up of eleven professionals, some with more than 15 years of experience in the field. |
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