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Basilea, Asahi Kasei Partner

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Basilea Pharmaceutica Ltd has announced that Basilea Pharmaceutica International Ltd. (Basilea) has entered into a partnering agreement with Asahi Kasei Pharma Corporation (Asahi Kasei Pharma) for Basilea's antifungal drug isavuconazole in Japan. Under the terms of the agreement, Asahi Kasei Pharma is granted an exclusive license to develop and commercialize isavuconazole in Japan.

Basilea will receive an upfront payment of CHF 7 million and will be eligible to receive up to approximately CHF 60 million (at current exchange rate) of additional payments upon achievement of regulatory and commercial milestones. Basilea will also receive double-digit tiered royalties on product sales in Japan.

Asahi Kasei Pharma will be responsible for conducting clinical studies necessary to apply for Japanese marketing authorization for isavuconazole for the treatment of invasive aspergillosis and mucormycosis. It will purchase product for commercialization of isavuconazole from Basilea.

Ronald Scott, Basilea's Chief Executive Officer, stated: "We are very pleased to partner with Asahi Kasei Pharma, which has a proven track record in the successful clinical development of innovative drugs and a strong commercial presence in the hospital area, including intensive care units and hematology. We look forward to making isavuconazole available to patients in this important market. Isavuconazole may provide a new treatment option for patients in Japan in this area of substantial unmet medical need."