Basilea Pharmaceutica - Third oncology asset sale announced, as planned
Basilea announced another successful oncology asset sale as a part of its strategic plan to focus on its core anti-infectives business. The company is anticipated to receive up to CHF3.0m in upfront and near-term milestones for its novel preclinical inhibitors of CLK kinases from Twentyeight-Seven (28-7) Therapeutics, a privately held US biotech. The deal will see Basilea with potential future development, regulatory and sales milestones payments of up to CHF351m. This is the third oncology sale in H222, and we view this latest development as a positive indicator for management realising its aim for the separation of its oncology business by end-FY22. We maintain our valuation of Basilea at CHF903.5m or CHF76.3/share.
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- Basilea Pharmaceutica - Third oncology asset sale announced, as planned02 Nov 2022