Basilea Pharmaceutica is continuing its quest to develop much-needed new antifungal drugs by penning a deal with Prokaryotics.
The collaboration will see Switzerland-based Basilea and U.S.-based Prokaryotics work together to develop a first-in-class broad-spectrum antifungal to treat invasive infections caused by strains of Candida, Aspergillus and rare moulds.
Once a suitable candidate reaches the clinic, Basilea will take charge of further development.
The companies kept the financial details vague, only stating that an undisclosed upfront payment was involved, and Prokaryotics could be in line for development, regulatory and commercial milestone payments of up to $48.5 million as well as tiered low single-digit royalties on global net sales should the antifungal make it to market.
