Basel, Switzerland, July 20, 2017 - Basilea Pharmaceutica Ltd. (BSLN.SW) reported today that its license agreement with Pfizer Inc. (PFE) for Basilea`s antifungal Cresemba (isavuconazole), which was announced on June 14, has completed and therefore will now be implemented.
The agreement grants Pfizer the right to manufacture isavuconazole and to exclusively commercialize the drug in Europe (excluding the Nordics), Russia, Turkey and Israel. Basilea will receive an upfront payment of CHF 70 million. Basilea is also eligible to receive up to USD 427 million in additional payments upon achievement of pre-specified regulatory and sales milestones. In addition, Basilea will also receive royalties in the mid-teen range on Pfizer`s sales in the territory.
About Cresemba (isavuconazole)
Isavuconazole is an intravenous (i.v.) and oral azole antifungal and the active agent of the prodrug isavuconazonium sulfate. It received marketing authorization in Europe for the treatment of adult patients with invasive aspergillosis and for the treatment of adult patients with mucormycosis for whom amphotericin B is inappropriate.1 It is approved in the United States for patients 18 years of age and older in the treatment of invasive aspergillosis and invasive mucormycosis.2 Isavuconazole has orphan drug designation for the approved indications in Europe and the US. Isavuconazole is being marketed as Cresemba in Germany, Italy, the UK, France and Austria. In the US, the drug is marketed by Basilea`s license partner Astellas Pharma US. Outside the US and the EU, isavuconazole is currently not approved for commercial use. The European marketing authorization is valid in all 28 European Union (EU) member states, as well as in Iceland, Liechtenstein and Norway.
About Basilea
Basilea Pharmaceutica Ltd. is a biopharmaceutical company developing products that address the medical challenge of increasing resistance and non-response to current treatment options in the therapeutic areas of bacterial infections, fungal infections and cancer. The company uses the integrated research, development and commercial operations of its subsidiary Basilea Pharmaceutica International Ltd. to discover, develop and commercialize 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 (BSLN.SW). Additional information can be found at Basilea`s website www.basilea.com.
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