Pfizer has inked deal with Basilea over Cresemba selling rights.
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Pfizer has signed a deal with the Basilea Pharmaceutica regarding rights to sell Basilea's anti-fungal treatment, referred as Cresemba (isavuconazole) in Russia, Turkey and Israel and Europe. In return, Basilea will receive roughly US$72 million and is eligible for around US$427 million in regulatory and sales targets, as well as sales of Cresemba by Pfizer in the agreed-upon territories.
In 2010, Basilea had gave Astellas Pharma rights for commercializing Cresemba while Phase 3 testing, holding an option to co-promote in the China, Europe, Canada and U.S.. The two companies made some minor changes in deal in 2014, with Basilea selling its co-promotion option for full rights outside of the Canada and U.S.
Cresemba was approved in Europe in October 2015 and in the U.S. in March 2015 for the cure of aggrasive mucormycosis and aspergillosis, also known as zygomycosis. It has an orphan drug status in both the Europe and U.S.
After dealing back with Astellas for complete rights outside the Canada and U.S., Basilea is now transferring Pfizer full rights in some countries for a financial hike. Basilea is looking for further partnerships for Cresemba and its antibiotic Zevtera (ceftobiprole).
The CEO of Basilea, Mr. Ronald Scott said in statement from Basilea,"The transaction will provide Basilea with additional financial flexibility to pursue targeted transactions to strengthen our two portfolio pillars focused on overcoming resistance: anti-infectives and oncology,"
Moreover the Pfizer deal, Basilea has inked various distribution deals for Cresemba, including Grupo Biotoscana for Latin America, Hikma Pharmaceuticals for the North Africa and Middle East, Unimedic in the Scandinavian countries and Avir Pharma in Canada. Asahi Kasei Pharma has special improvement and commercialization contract for Japan.
Fungal infections affect thousands of people each year, with approximately couple of million people developing exteme infections, some of them have very high death rates. There are nearly 200,000 cases of aspergillosis. The available antifungal drugs are effective but can be toxic.