Basilea announces licensing of a novel first-in-class antifungal program from Fox Chase Chemical Diversity Center

Basel, Switzerland, April 27, 2022

Basilea Pharmaceutica Ltd. (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with bacterial and fungal infections and cancer, announced today that it has entered into a licensing agreement with the U.S.-based company, Fox Chase Chemical Diversity Center, Inc. (FCCDC), for a preclinical program on novel first-in-class broad spectrum antifungals with activity against difficult-to-treat mold infections.

Dr. Laurenz Kellenberger, Chief Scientific Officer of Basilea, said: “This agreement shows our commitment to implementing our new corporate strategy, with a future focus on anti-infectives. The profile and the broad antifungal activity of the lead compound shown in preclinical studies are very promising. We will now focus on completing the preclinical profiling of the lead compound, which will be decisive for the development strategy and positioning of this new class of antifungal agents.”

Under the terms of the agreement, Basilea is granted an exclusive worldwide license to FCCDC’s antifungal program. FCCDC receives an undisclosed upfront payment and is eligible for further payments, upon the achievement of predefined development, regulatory and commercial milestones, as well as for tiered royalties on net sales. This transaction has no impact on Basilea’s financial guidance for 2022, provided on February 15, 2022.

About FCCDC

Fox Chase Chemical Diversity Center, Inc. (FCCDC) is based in Doylestown, Pennsylvania, USA, at the Pennsylvania Biotechnology Center (PABC) and is affiliated with the Pennsylvania Drug Discovery Institute (PDDI). FCCDC conducts early-stage drug discovery research including target validation, medicinal chemistry, in vitro pharmacology, and ADME characterization. FCCDC’s goal is to transition innovative biomedical research technologies into fully-fledged development programs for eventual evaluation in human clinical trials and commercialization. The work on FCCDC’s antifungal program was supported by the U.S. Office of the Assistant Secretary of Defense for Health Affairs through the Peer Reviewed Medical Research Program under Award No. W81XWH-18-1-0638.

About Basilea

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 medical needs of patients with bacterial and fungal infections and cancer. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of severe bacterial infections. We are conducting clinical studies with two targeted drug candidates for the treatment of a range of cancers and have several preclinical assets in both anti-infectives and cancer in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit 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-mail	media_relations@basilea.com investor_relations@basilea.com

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

Attachment

• Press release(PDF)

To 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.