Basilea has entered into an asset purchase agreement with the Glioblastoma Foundation, for Basilea’s oncology drug candidate lisavanbulin (BAL101553), which has been developed as a potential therapy for glioblastoma, the most common type of primary brain cancer.
Dr. Marc Engelhardt, Chief Medical Officer of Basilea, said: “Glioblastoma is one of the most lethal types of brain cancer and available therapeutic options are very limited. Partnering lisavanbulin with the Glioblastoma Foundation is important to us, as it enables patients to continue having access to this promising anticancer drug candidate, now that Basilea has changed its strategic focus to anti-infectives.”
Dr. Gita Kwatra, Chief Executive Officer of the Glioblastoma Foundation, said: “We are delighted to partner with Basilea and take over the development of lisavanbulin for glioblastoma patients. Lisavanbulin has shown excellent activity against glioblastoma in PDX preclinical models as well as efficacy in phase 1 and 2 studies. We strongly believe that lisavanbulin will be effective in a subset of glioblastoma patients and we are looking forward to initiating clinical trials of lisavanbulin in the US.”
Under the terms of the agreement, Basilea sells and transfers all rights to lisavanbulin to the Glioblastoma Foundation for an undisclosed initial purchase price. In addition, Basilea will participate in future proceeds from any potential commercial partnerships at a fixed double-digit percentage. The Glioblastoma Foundation will continue the post-trial access program for patients from previous clinical studies to continue to receive lisavanbulin. Also, the Glioblastoma Foundation will further explore the therapeutic value of lisavanbulin for the treatment of glioblastoma.
