Daily Brief Health Care: Basilea Pharmaceutica Ag, Hisamitsu Pharmaceutical Co, InMed Pharmaceuticals and more

Basilea has announced a preclinical antibiotic programme asset purchase agreement, aligning with management’s pre-emptive efforts to refill its pipeline with novel anti-infectives. This follows on the heels of three antifungal and antibacterial acquisitions/in-licensing, including fosmanogepix. As part of the agreement, Basilea will pay Spexis (SIX: SPEX) up to CHF2m, consisting of an upfront payment, an asset-transfer payment and a potential final milestone payment related to the availability of near-term funding to further develop the programme. Basilea will also assume the rights and obligations of Spexis, including potential low single-digit percentage royalties on sales. The programme is based on an Outer Membrane Protein Targeting Antibiotics (OMPTA) platform and the compounds have shown in vitro and in vivo activity against Gram-negative bacteria (GNB), including multidrug-resistant strains, several of which are listed as priority pathogens by the World Health Organization (WHO).

• Hisamitsu Pharmaceutical Co (4530 JP) has reported double-digit revenue and net profit growth in Q3FY24, mainly driven by 21% YoY growth in Salonpas focused OTC pharmaceutical products.
• The company attributes OTC product revenue growth to aggressive sales promotion activities in Japan and overseas, recovery of domestic economic activity and inbound demand, and impact of the weaker yen.
• Encouraged by Salonpas revenue recovery, Hisamitsu has raised FY24 guidance. The company has revised FY24 revenue guidance upward by 7% to ¥141 billion (up 10% YoY) from ¥132 billion.

• Building on a year of progress. Following a banner year for InMed in 2023, including significant advancement and expansion of its rare cannabinoids-focused pharmaceuticals development programs and a breakout year for BayMedica’s commercial operations, the company has laid out its strategic priorities for 2024.
• Advancing a potentially novel approach to treating Alzheimer’s.
• In October 2023, InMed took a significant step forward in its INM-900 series program targeting neurodegenerative diseases after confirming that it has made its final selection of a lead Alzheimer’s disease drug candidate.