NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL
Basel, Switzerland, February 24, 2021
Basilea Pharmaceutica Ltd. (“Basilea” or the “Company”) announced today that it has successfully placed 1 million new shares in a private placement to institutional shareholders by way of an accelerated bookbuilding. The net proceeds will be used for i) the clinical development of Basilea’s clinical oncology drug candidates derazantinib and lisavanbulin, ii) pre-clinical research and development activities, and iii) working capital and other general corporate purposes, including investments in or in-licensing of complementary businesses, products or assets.
David Veitch, Chief Executive Officer of Basilea, said: “Through this transaction we have successfully expanded our institutional shareholder base, including leading healthcare funds, and increased our financial flexibility in order to create value through the progression and expansion of our R&D portfolio in our strategic focus areas. In particular, we have gained further flexibility for our most advanced clinical oncology assets, derazantinib and lisavanbulin, following the upcoming key data readouts…