Basilea Announces Global Partnership With Astellas for Its Antifungal Isavuconaz

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Basilea Announces Global Partnership With Astellas for Its Antifungal

Isavuconazole

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Basilea announced today that Basilea Pharmaceutica International Ltd. has

entered into a license, co-development and co-promotion agreement with Astellas

Pharma Inc. (TSE: 4503) for Basilea's azole antifungal agent isavuconazole in

phase III clinical development for the treatment of life-threatening invasive

fungal infections on a worldwide basis, including an option for Japan.

Under the terms of the agreement, Basilea will receive an upfront payment of CHF

75 million and will be eligible to receive up to CHF 478 million in additional

payments on achievement of pre-specified development and sales milestones.

Basilea will also receive significant double-digit tiered royalties on sales.

Astellas is granted an exclusive right to commercialize isavuconazole whereas

Basilea retains an option to co-promote the product in the United States,

Canada, major European countries and the People's Republic of China. Basilea and

Astellas will jointly participate in the development of isavuconazole. Astellas

will lead the development and contribute the majority of the investments

required for completing the clinical development program investigating

isavuconazole in the treatment of patients with invasive fungal infections

caused by Aspergillus or other filamentous fungi (mold infections) and Candida

fungi (yeast infections). Basilea will initially manage manufacturing. Astellas

has the right to take over the management of manufacturing and will bear

manufacturing costs for commercial supply and commercialization costs.

" Astellas has a successful track record in developing and commercializing

antifungals in the hospital sector internationally. We look forward to work

together with Astellas to achieve isavuconazole's full potential as a novel

therapeutic option for treating serious and life-threatening fungal infections.

This partnership further validates the unique and highly competitive profile of

isavuconazole and its potential as a best-in-class antifungal, " said Dr.

Man, CEO Basilea Pharmaceutica Ltd. " The financial contribution from this

partnership allows us to further expand Basilea's commercial efforts in key

markets as needed as well as advance our promising pipeline projects. "

" We are excited to be working with Basilea to develop and commercialize

isavuconazole for the treatment of life-threatening invasive fungal infections, "

said Masafumi Nogimori, President and CEO, Astellas Pharma Inc. " Astellas has

already experience in the development and marketing of the echinocandin

antifungal agent Mycamine (micafungin) worldwide and is committed to focus on

infectious diseases. This partnership is an important step to further expand our

business and to reinforce our franchise in infectious diseases. "