Basilea Pharmaceutica - Oncology asset sales continue
Basilea Pharmaceutica continues its positive wave of Q322 activity with the successful asset purchase and sub-licence agreement of its tyrosine kinase/polo-like kinase 1 (TTK/PLK1) inhibitor, BAL0891, to SillaJen (a privately held South Korean biotech). The deal will see Basilea receive up to US$14m (CHF13.5m) in upfront and near-term milestones, with potential future milestone payments of up to c US$320m (c CHF310m). The company is also entitled to tiered royalties on net sales, which will range from single- to double-digit percentages. We see this latest development as a positive indicator of management delivering on its intention to separate the oncology business by end-FY22. We have updated our financials to align with company guidance and value Basilea at CHF903.5m or CHF76.3/share.
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- Basilea Pharmaceutica - Oncology asset sales continue24 Sep 2022