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news.Basilea Pharmaceutica has entered into a license, co-development and co-promotion agreement with Astellas Pharma for its 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.
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Under the terms of the agreement, Basilea will receive an upfront payment of CHF75m and will be eligible to receive up to CHF478m 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 US, 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 and candida fungi.
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.
Anthony Man, CEO of Basilea Pharmaceutica, said: “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. 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.”
Masafumi Nogimori, president and CEO of Astellas, said: “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.”