Basilea announces accelerated loan repayment

Ad hoc announcement pursuant to Art. 53 LR

Allschwil, Switzerland, December 20, 2023

Basilea Pharmaceutica Ltd, Allschwil (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with severe bacterial and fungal infections, announced today that it will accelerate the repayment of its senior secured loan. The senior secured loan from Athyrium Capital Management, LP ("Athyrium”) had an initial total amount of CHF 75 million and a two-year term from September 2022 to September 2024. The repayment started as of Q1 2023 on a quarterly basis. Basilea now plans to have the loan fully repaid by the end of Q1 2024.

Adesh Kaul, Basilea’s Chief Financial Officer, said: "We are pleased that the successful implementation of our growth strategy in 2023 and our strong financial prospects for 2024 have allowed us to agree with Athyrium on an early repayment of the senior secured loan. The accelerated repayment reduces our interest payments and fees by approximately CHF 1.5 million, freeing up funds for investing into the continued expansion and progression of our pipeline of promising anti-infective drug candidates and creating long-term value for our shareholders.”

About Basilea

Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the needs of patients with severe bacterial and fungal infections. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. In addition, we have preclinical and clinical anti-infective assets in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements, such as "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions concerning Basilea Pharmaceutica Ltd, Allschwil and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd, Allschwil to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd, Allschwil is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

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This ad hoc announcement can be downloaded from www.basilea.com. 

Attachment

• Press release (PDF)