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BRIEF-Basilea announces license agreement with Pfizer for antifungal Cresemba

June 14 Basilea Pharmaceutica AG:

* Basilea announces license agreement with Pfizer for antifungal Cresemba® (isavuconazole) for Europe, Russia, Turkey And Israel

* Under terms of agreement, Basilea will receive an upfront payment of CHF 70 million

* Basilea will receive royalties in mid-teen range on Pfizer's sales in territory

* Says considering collaboration with Pfizer, Basilea's total product sales are expected at approximately CHF 11 million for year

* Will be eligible to get up to $427 million in additional payments upon achievement of pre-specified regulatory and sales milestones​

* Contribution from transaction in 2017 is estimated at approximately CHF 6 million through revenue recognition and royalty payments

* Says contribution from transaction in 2017 is estimated at about CHF 6 million through revenue recognition and royalty payments

* Subject to deal closing, sees financial guidance for 2017 to improve

* Pfizer will have right to manufacture isavuconazole and to exclusively commercialize drug in Europe, Russia, Turkey And Israel

* Cresemba sales after deal closing will be booked by Pfizer

* Subject to deal closing, co sees total operating expenses reduced to approximately CHF 9-10 million on average per month for 2017

* Subject to deal closing, sees operating loss of approximately CHF 2-3 million on average per month for 2017 Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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