Basilea teams with Prokaryotics on first-in-class antifungals

Swiss anti-infectives specialist Basilea (SIX: BSLN) has struck a research collaboration with US biotech Prokaryotics to develop a first-in-class, broad-spectrum antifungal aimed at severe invasive infections.

The partners will work on a novel-mechanism program targeting Candida, Aspergillus and rare molds. Once a clinical candidate is selected, Basilea will assume responsibility for clinical development and global commercialization under an exclusive license.

Under the deal, Prokaryotics will receive an undisclosed upfront payment and near-term milestones, with potential development, regulatory and commercial milestones of up to $48.5 million, plus tiered low single-digit royalties on global net sales.