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Basilea announces closing of previously announced transaction regarding divestment of its Chinese R&D subsidiary

Written by Customer Service on . Posted in Public Companies.

Basel, Switzerland, April 01, 2021

Basilea Pharmaceutica Ltd. (SIX: BSLN) today announced the successful closing of the previously announced divestment of its Chinese research and development (R&D) subsidiary Basilea Pharmaceutica China Ltd. (“BPC”) to the U.S.-based custom manufacturing organization PHT International Inc. (“PHT”) for a total consideration of USD 6.3 million. Basilea has received the initial payment of USD 2.5 million and is entitled to receive additional payments of USD 3.8 million over the course of the next three years. All 72 employees of BPC and the facilities have been transferred to PHT. PHT continues to provide R&D services to Basilea through the existing site in China.

About Basilea

Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the medical needs of patients with cancer and infectious diseases. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of severe bacterial infections. We are conducting clinical studies with two targeted drug candidates for the treatment of a range of cancers and have a number of preclinical assets in both cancer and infectious diseases in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements, such as “believe”, “assume”, “expect”, “forecast”, “project”, “may”, “could”, “might”, “will” or similar expressions concerning Basilea Pharmaceutica Ltd. and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

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This press release can be downloaded from www.basilea.com. 

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