Basilea Pharmaceutica - Antifungal addition to bolster pipeline
Basilea has announced an expansion of its portfolio to foster long-term growth, a key strategic priority for management, leveraging expertise in the commercialisation of its two key anti-infective products, Cresemba and Zevtera. The company will in-license GR-2397, a clinical-stage antifungal compound targeting invasive mould infections, mainly caused by the Aspergillus species. The Phase II-ready asset has Qualified Infectious Disease Product, Orphan Drug and Fast Track designations from the US FDA for invasive aspergillosis, which often leads to priority review post a New Drug Application (NDA) filing and grants 10 years of US market exclusivity. Basilea will make an upfront payment of $2m, followed by ~$69m in milestones and tiered royalties. Our valuation of Basilea remains unchanged, and will be reassessed once additional information becomes available.Basilea Pharmaceutica is an integrated biopharmaceutical company engaged in the discovery, development and commercialization of pharmaceutical products for the treatment of bacterial infections, fungal infections, oncology and skin diseases. Co. focuses on antibiotics and antifungals as well as oncology and dermatology drugs. Co.'s portfolio spans from innovative early-stage through clinical late-stage drug candidates to a marketed product. In the context of its international commercialization organization, Co. has subsidiaries in Denmark, France, Germany, Italy, Spain and the United Kingdom.
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