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Basilea cashes $3M as it expands Asia Pacific deal for Cresemba with Pfizer

Basilea Pharmaceutica and Pfizer have extended their license agreement for Basilea’s antifungal Cresemba to China and sixteen countries in Asia Pacific.This deal extension was announced on December 1, 2017.

Isavuconazole is an antifungal for the treatment of life-threatening invasive mold infections.
Basilea reported on Wednesday that it will $3 million upfront, and
will wait for another $223 million upon certain milestones related to China and the
Asia Pacific region.

Furthermore, Basilea will also get royalties in the mid-teen range on Pfizer’s
sales in the territory. As said in Basilea’s press release, Pfizer is granted an exclusive license isavuconazole in China, including Hong Kong and Macao, and sixteen countries in the Asia Pacific region, including Australia, India, South Korea, Singapore and Taiwan.

In June 2017, Basilea signed a license agreement with Pfizer for Europe (excluding the Nordics),
Russia, Turkey and Israel. Basilea noted in today’s news announcement that it got CHF 70 million upfront payment and is eligible for additional milestone payments of up to $427 million and mid-teen royalties on sales.

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