Pump-probe measurements in a microcavity containing a quantum well show tha
t a population of circularly polarized (sigma(+)) excitons can completely i
nhibit the transition to sigma(-) one-exciton states by transferring the os
cillator strength to the biexcitonic resonance. With increasing pump intens
ity the linear exciton-polariton doublet evolves into a triplet polariton s
tructure and finally into a shifted biexciton-polariton doublet. A theoreti
cal model of interacting excitons demonstrates that the crossover from exci
ton to biexciton polaritons is driven by three-exciton Coulomb correlation.