Basilea licenses isavuconazole to Asahi Kasei in Japan

Swiss drugmaker Basilea Pharmaceutica (SIX: BSLN) has entered into a partnering agreement with Asahi Kasei Pharma (TYO: 3407) for Basilea's antifungal drug isavuconazole (trade name Cresemba) in Japan.

Under the terms of the agreement, Asahi Kasei Pharma is granted an exclusive license to develop and commercialize isavuconazole in Japan. Basilea will receive an upfront payment of 7 million Swiss francs and will be eligible to receive up to approximately 60 million francs ($68 million at current exchange rate) of additional payments on the achievement of regulatory and commercial milestones. Basilea will also receive double-digit tiered royalties on product sales in Japan.

Asahi Kasei Pharma will be responsible for conducting clinical studies necessary to apply for Japanese marketing authorization for isavuconazole for the treatment of invasive aspergillosis and mucormycosis. It will purchase product for commercialization of isavuconazole from Basilea.