Basilea announces closing of CHF 75 million senior secured loan agreement with Athyrium
Basel/Allschwil, Switzerland, September 21, 2022
Basilea Pharmaceutica Ltd (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with severe bacterial and fungal infections, announced today the closing of the previously announced CHF 75 million senior secured loan agreement with funds managed by Athyrium Capital Management, LP ("Athyrium").
Adesh Kaul, Chief Financial Officer of Basilea, said: “We are pleased to announce the closing of this loan agreement with Athyrium. The CHF 75 million senior secured loan will be used for the non-dilutive repayment of our convertible bonds, which are due in December 2022 in an outstanding nominal amount of approximately CHF 117 million.”
Basilea plans to pay the remainder of the outstanding amount of the 2022 convertible bonds with cash at hand and intends to repay the CHF 75 million senior secured loan within two years from expected cash flows from its growing commercial business.
The senior secured loan has a two-year term and repayment will start in Q1 2023 on a quarterly basis. Interest payments, excluding fees, are expected to amount to an average of approximately CHF 1.25 million per quarter over the term.
Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the needs of patients with severe bacterial and fungal infections. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. In addition, we have several preclinical anti-infective assets in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.
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
Basilea Pharmaceutica International Ltd, Allschwil
|Phone||+41 61 606 1102|
This press release can be downloaded from www.basilea.com.
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
African Development Fund mobilizes $8.9 billion for Africa’s low-income countries, the highest in its 50-year history6.12.2022 21:38:00 CET | Press release
TANGIER, Morocco, Dec. 06, 2022 (GLOBE NEWSWIRE) -- After a year of intense negotiations and a difficult global economic outlook, development partners of the African Development Fund (ADF) have agreed to commit a total package of $8.9 billion to its 2023 to 2025 financing cycle. It is the largest replenishment in the history of the Fund. ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries. The $8.9 billion replenishment package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window. ADF-16 core funding represents a 14.24% increase over ADF-15 of $7.4 billion. It is a strong endorsement of the African Development Fund and its impact in tackling the continent’s multiple development needs, including recovery from the Covid-19 pandemic, the effects of climate change, fragility, debt, and economic vulnerabilities. Algeria and Morocco contributed to the Fu
Zoltek celebrates the founder’s 80th birthday6.12.2022 20:05:26 CET | Press release
Leading the carbon fiber industry on a global scale St. Louis, Missouri, USA, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Zoltek Corporation, the largest global manufacturer of industrial grade carbon fiber, has recently celebrated the 80th birthday of its founder, Zsolt Rumy. Born in December 1942 in Budapest, Hungary, Mr. Rumy was a carbon fiber industry pioneer that ultimately changed the carbon fiber world. He created the first industrial-grade carbon fiber made to compete against other common building materials, and created Zoltek Corporation to drive the commercialization of carbon fibers. Mr. Rumy fled Soviet communism after the Hungarian Revolution in 1956, and arrived in the US as a 14-year old war refugee through the International Red Cross and Catholic Charities. He later graduated with a chemical engineering degree from the University of Minnesota, accepted a position with Monsanto Company and moved to St. Louis, Missouri in 1966. After several years of corporate sales and engineerin
Mandalay Resources Corporation tillkännager CEO-förändring och befordringar i ledningsgruppen6.12.2022 19:30:23 CET | Pressemelding
TORONTO, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation (”Mandalay” eller ”bolaget”) (TSX: MND, OTCQB: MNDJF) tillkännagav idag att Dominic Duffy har informerat styrelsen om sitt beslut att avgå som President och Chief Executive Officer av personliga skäl. Dominic Duffy kommer att fortsätta som CEO och hjälpa till med ledarskapsövergången fram till sin avgång i juli 2023. Han kommer också att kvarstå i styrelsen i en icke-verkställande roll efter sin avgång som CEO. Mandalays styrelse har anlitat ett rekryteringsföretag för att hitta en efterträdare till Dominic Duffy. Mandalay har även nöjet att meddela att Ryan Austerberry från och med den 15 december 2022 befordras till Chief Operating Officer. Ryan Austerberry är för närvarande General Manager vid Mandalays Costerfield-gruva och var tidigare General Manager för Mandalays andra verksamma gruva, Björkdal. Adam Self, nuvarande Mine Manager på Costerfield, ersätter Ryan Austerberry som Costerfields General Manager. Br
Novartis Kisqali® prolonged PFS benefit for pre- and perimenopausal patients with aggressive HR+/HER2− metastatic breast cancer compared to chemotherapy6.12.2022 19:30:00 CET | Press release
RIGHT Choice Phase II trial is the first randomized study in patients with aggressive HR+/HER2− metastatic breast cancer (MBC), including visceral crisis, comparing a CDK4/6 inhibitor (CDK4/6i) plus endocrine therapy (ET) versus combination chemotherapy (CT)1 Kisqali plus ET demonstrated a statistically significant progression-free survival (PFS) benefit of one year compared to combination CT; data to be presented at SABCS 20221 Kisqali is a unique CDK4/6i that has consistently shown statistically significant overall survival benefit while preserving or improving quality of life across three Phase III trials in MBC, including in patients with aggressive disease1,2-13 Basel, December 6, 2022 — Novartis today announced results from the RIGHT Choice Phase II trial evaluating Kisqali® (ribociclib) plus endocrine therapy (ET) against combination chemotherapy (CT) in the first-line setting for pre- and perimenopausal patients with aggressive forms of hormone receptor-positive, human epiderma
Information on the Total Number of Voting Rights (Denominator) following Conversion Notice from NEGMA6.12.2022 19:00:00 CET | Press release
Negma Group has converted 80convertible bonds in Oxurion resulting in a EUR 200,000capital increase. This is part of Negma Group’s EUR 30 million Capital Commitment1 that will allow Oxurion to focus on progressing its novel and differentiated back of the eye drug candidate targeting potential market opportunities of over USD 5billion. Leuven, BELGIUM,Boston, MA, US–December6, 2022– 07.00 PM CET – In accordance with article 15 of the Belgian Act of May 2, 2007 on the disclosure of major participations in issuers of which shares are admitted to trading on a regulated market and regarding miscellaneous provisions, Oxurion NV (Euronext Brussels: OXUR) (the “Company” or “Oxurion”), announces the below information, following the issuance of 21,008,403 new ordinary shares on December 5, 2022, for a total amount of EUR 200,000, as the result of the conversion of 80 class B convertible bonds, pursuant to the Capital Commitment entered into with Negma Group. Following completion of the capital i