Basilea in EUR375 million deal with Astellas
Basel – Swiss Basilea Pharmaceutica International Ltd. has achieved a EUR51m upfront payment for the license, co-development and co-marketing deal of its antifungal drug isavuconazole with Astellas Pharma Inc. (Tokyo). Basilea's azole antifungal agent is currently in phase III clinical studies for the treatment of life-threatening invasive fungal infections with Candida or Aspergillus strains.The deal is excellent news for Basilea following the rejection of its superbug antibiotic ceftobiprole had been rejected by the CHMP for possible non-compliance with GMP, leaving the company struggling for cash and income (more). According to the terms of the new deal, Basilea will receive up to EUR375m in additional payments on achievement of development and sales milestones plus double-digit tiered royalties on sales. Astellas has the exclusive right to commercialize the antifungal drug but Basilea retains an option to co-promote the product in the United States, Canada, major European countries and in China. Basilea and Astellas will jointly develop isavuconazole. Astellas will lead the development and contribute the majority of the investment required for completing the clinical development program against invasive fungal infections caused by Aspergillus or other filamentous fungi (mold infections) and Candida fungi (yeast infections). Basilea will initially manage manufacturing.Astellas also has the right to take over the management of manufacturing and will bear manufacturing costs for commercial supply and commercialization costs.