Basilea announces global partnership with Astellas for its antifungal isavuconazole
Basilea announced that Basilea Pharmaceutica International Ltd. has entered into a license, co-development and co-promotion agreement with Astellas Pharma Inc. 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.
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