Basilea Pharmaceutica Ltd. (SIX: BSLN) announced today that its partner Avir Pharma Inc. (“Avir Pharma”) has launched the antifungal Cresemba® (isavuconazole) in Canada.
David Veitch, Chief Executive Officer, said: “We are very pleased with the launch of Cresemba in Canada. We look forward to Avir Pharma making Cresemba available to patients in Canada as an important new treatment option for potentially life-threatening invasive mold infections. Through our global partnerships Cresemba is already available in more than 25 countries worldwide.”
In June 2017 Basilea entered into a distribution and license agreement with Avir Pharma for both Cresemba and the hospital antibiotic Zevtera (ceftobiprole). Basilea supplies Avir Pharma with products at a transfer price. The granting of the regulatory approval for Cresemba in Canada triggered an undisclosed regulatory milestone payment to Basilea and Basilea is eligible to receive further sales milestone payments.
About Cresemba (isavuconazole)
Isavuconazole is an intravenous (i.v.) and oral azole antifungal, commercialized under the trade name Cresemba. Cresemba is approved in Canada for patients 18 years of age and older for the treatment of invasive aspergillosis and invasive mucormycosis.1 Cresemba is also approved in the United States, the European Union and several additional countries in and outside of Europe. It has U.S. and European orphan drug designation for its approved indications. Basilea has entered into several license and distribution agreements for isavuconazole covering the United States, Europe, China, Japan, Latin America, Asia-Pacific, the Middle East and North Africa (MENA) region, Canada, Russia, Turkey and Israel.2