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BioAlliance Pharma gets €10mm loan from its top shareholder

Executive Summary

BioAlliance Pharma SA (therapies for oncology and related diseases) entered into a loan agreement with its top shareholder Financière de la Montagne that provides the company with €10mm ($13.5mm) for one year and carries interest of 15%. The loan is repayable in cash or in shares if the company launches a capital increase (in which case the debt for the subscription to the increase would go up by a 25% premium). BioAlliance is in the process of merging with TopoTarget to form a new company, Onxeo. Loan proceeds will support the combined entity, specifically a Phase III trial of Livitag (doxorubicin) for primary liver cancer.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
      • Site Specific
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Nonconvertible Debt
    • Private Placement

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