2024-01-15 07:11:07
Zurich (awp) – The Basilea Pharmaceutica laboratory will buy an antibiotic development program from its struggling neighbor Spexis for an amount of up to 2 million Swiss francs. The transaction is part of the efforts made by Spexis to extricate itself from its debt restructuring reprieve. To do this, the Allschwil firm intends to focus on the rare disease and oncology segments.
The assets sold include macrocyclic antibiotics targeting an essential element of the outer membrane of certain bacteria and having demonstrated an effect in vitro as well as on animal models against Escherichia coli or Klebsiella pneumoniae in particular, including on strains resistant to products for time considered as the last therapeutic resort, underline the two protagonists in separate press releases.
The amount of 2 million mentioned covers the initial payment, a payment at the time of transfer of ownership, as well as a final payment conditional on future external financing of the antibiotic development program. Basilea further undertakes to assume the obligations of Spexis
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