BioAlliance Pharma gained European commercialization rights to Immtech Pharmaceuticals’ pafuramidine maleate for $3 million. The compound is currently in Phase III trials for the treatment of pneumocystis pneumonia in AIDS patients and African sleeping sickness. Immtech also granted BioAlliance an option to commercialize pafuramidine in Europe for prevention and treatment of malaria in travelers.
An additional $13 million will be paid as pafuramidine advances through European regulatory approval and pricing. BioAlliance will also make additional payments based on sales milestones and double-digit royalties.
BioAlliance will contribute to clinical development funding of pafuramidine for malaria if the company exercises its option. Immtech will also obtain regulatory, pricing, and sales milestones and royalties related to the malaria program.