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Basilea achieves preclinical milestone in oncology collaboration on potential first-in-class kinase inhibitor

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Basel, Switzerland, February 11, 2021

Basilea Pharmaceutica Ltd. (SIX: BSLN) announced today that it has promoted a potential first-in-class small-molecule kinase inhibitor from its research portfolio into the next preclinical development stage, which triggers an undisclosed milestone payment to its external partner. Basilea is planning to start preclinical studies with the goal of filing for an IND, i.e. the authorization to evaluate the drug candidate in phase 1 clinical studies, by the end of this year.

Dr. Laurenz Kellenberger, Chief Scientific Officer, said: “We are pleased with reaching this important preclinical milestone in our external collaboration. The kinase inhibitor fits perfectly with our oncology R&D strategy. Its mode of action and unique kinase inhibition profile offer the possibility for differentiation and targeted development guided by biomarkers. We look forward to achieving the next important milestone in this program, which will be the initiation of clinical studies with this potential first-in-class kinase inhibitor within the next twelve months.”

The program was in-licensed from a privately-owned biotech company in 2018.

About Basilea

Basilea Pharmaceutica Ltd. is a commercial-stage biopharmaceutical company, focused on the development of products that address the medical challenges in the therapeutic areas of oncology and infectious diseases. With two commercialized drugs, the company is committed to discovering, developing and commercializing innovative pharmaceutical products to meet the medical needs of patients with serious and life-threatening conditions. Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland and listed on the SIX Swiss Exchange (SIX: BSLN). Additional information can be found at Basilea's website www.basilea.com.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements, such as "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions concerning Basilea Pharmaceutica Ltd. and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

For further information, please contact:

Peer Nils Schröder, PhD

Head of Corporate Communications & Investor Relations
Phone+41 61 606 1102
E-mailmedia_relations@basilea.com
investor_relations@basilea.com

This press release can be downloaded from www.basilea.com.

Press release (PDF)


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