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08.02.2024 07:15:30 - dpa-AFX: EQS-Adhoc: Spexis announces closing of sale of preclinical antibiotics program to Basilea (english)
Spexis announces closing of sale of preclinical antibiotics program to
Basilea
Spexis AG / Key word(s): Miscellaneous
Spexis announces closing of sale of preclinical antibiotics program to
Basilea
08-Feb-2024 / 07:15 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland, February 8, 2024
Spexis announces closing of sale of preclinical antibiotics program to
Basilea
Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on
macrocycle therapeutics for rare diseases and oncology, today announced that
it has closed its asset purchase agreement with Basilea Pharmaceutica Ltd,
Allschwil (SIX: BSLN) wherein Basilea has now formally become the owner of a
preclinical program of antibiotics developed by Spexis from a novel class
targeting Gram-negative bacteria, including multidrug-resistant strains.1
The transaction was subject to the approval by the Western District Court of
the Canton Basel-Landschaft, which has now been obtained.
As part of the completed transaction, Basilea has acquired all program
compounds, including intellectual property, and is paying Spexis up to a
total of CHF 2 million, which consists of an upfront payment which was now
received at closing, a payment related to the near-term transfer of the
assets to Basilea, which is expected by the end of February and a potential
final milestone payment related to the availability of near-term external
funding for the further development of the program. In addition, Basilea has
assumed the rights and obligations of Spexis related to the program,
including potential low single-digit percentage royalties on sales, under
licensing agreements.
The assets sold to Basilea are macrocyclic antibiotics developed within
Spexis' Outer Membrane Protein Targeting Antibiotics (OMPTA) program which
selectively disrupt the lipopolysaccharide transport bridge, an essential
structure in Gram-negative bacteria. This results in a loss of the integrity
of the outer cell membrane, intracellular accumulation of
lipopolysaccharides and killing of the bacteria. Activity has been shown in
vitro and in vivo against Enterobacteriaceae such as E. coli and K.
pneumoniae, including strains resistant to beta-lactams and colistin, an
antibiotic regarded as last-resort therapy. The program was funded in part
by CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical
Accelerator)2, a global non-profit partnership dedicated to supporting
early-stage antibacterial research and development to address the rising
threat of drug-resistant bacteria.
Jeff Wager, MD, Chairman & CEO of Spexis, said: "We are very pleased to have
finalized this transaction with Basilea as it underscores the power of our
macrocycle platform as a drug discovery platform and its potential to
generate products that can address significant unmet medical needs. From a
corporate strategy perspective, this transaction is part of Spexis' efforts
to partner or divest non-core programs and assets as the company works
towards exiting its moratorium status and will generate funds and streamline
focus which we can utilize towards advancing our core programs in rare
disease and oncology. "
About multidrug-resistant Gram-negative bacteria
Infections by multidrug-resistant Gram-negative bacteria (GNB) are a major
challenge for healthcare professionals. Due to an additional outer cell
membrane compared to Gram-positive bacteria, it is more difficult for
antibiotics to get into the cell. In addition, this outer membrane carries
lipopolysaccharides/endotoxins which induce inflammation and play an
important amplifying role in the pathogenesis of infections by GNB and are
therefore considered an important virulence factor. Moreover, GNB can
acquire resistance to several classes of antibiotics such as carbapenems,
fluoroquinolones, tetracyclines and earlier-generation cephalosporins,
making infections with GNBs particularly difficult to treat. In 2017, the
World Health Organization published a list of 12 classes of priority
bacterial pathogens that pose the greatest threat to human health, of which
nine classes are Gram-negative.3
About Spexis
Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in
Allschwil, Switzerland, focused on macrocycle therapeutics for rare diseases
and oncology. For further information please visit: www.spexisbio.com.
About Spexis' Macrocycle Platforms
Spexis possesses what we regard as some of the most distinct, highly diverse
and very well characterized macrocycle libraries in the world, together with
deep data on same, developed over the course of more than 25 years of
research and development and significant investment. These include
PEMFinder(TM), which is comprised of peptidomimetic macrocycles, and
MACROFinder(TM), which are small molecule macrocycles. Each have distinct
applications depending on the targets in question, which can be both
extracelluar and intracellular targets. In addition to generating the
specific OMPTA candidates described in this press release, these platforms
have generated multiple other drug candidates in the Spexis pipeline,
including murepavidin, balixafortide, lonodelestat and others.
For further information please contact:
Disclaimer
This press release contains forward-looking statements which are based on
current assumptions and forecasts of Spexis management. Known and unknown
risks, uncertainties, and other factors could lead to material differences
between the forward-looking statements made here and the actual development,
in particular Spexis' results, financial situation, and performance. Readers
are cautioned not to put undue reliance on forward-looking statements, which
speak only of the date of this communication. Spexis disclaims any intention
or obligation to update and revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
This press release can be downloaded from www.spexisbio.com
References
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End of Inside Information
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End of Announcement EQS News Service
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1832895 08-Feb-2024 CET/CEST
Basilea
Spexis AG / Key word(s): Miscellaneous
Spexis announces closing of sale of preclinical antibiotics program to
Basilea
08-Feb-2024 / 07:15 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland, February 8, 2024
Spexis announces closing of sale of preclinical antibiotics program to
Basilea
* Basilea to pay up to CHF 2 million for a preclinical program with novel
antibiotics targeting Gram-negative bacteria, including
multidrug-resistant strains
* Transaction is part of Spexis' efforts to partner or divest non-core
programs and assets as the company works through its moratorium status
* Transaction was subject to certain closing conditions, which now have
been met and which will commence payments from Basilea to Spexis
Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on
macrocycle therapeutics for rare diseases and oncology, today announced that
it has closed its asset purchase agreement with Basilea Pharmaceutica Ltd,
Allschwil (SIX: BSLN) wherein Basilea has now formally become the owner of a
preclinical program of antibiotics developed by Spexis from a novel class
targeting Gram-negative bacteria, including multidrug-resistant strains.1
The transaction was subject to the approval by the Western District Court of
the Canton Basel-Landschaft, which has now been obtained.
As part of the completed transaction, Basilea has acquired all program
compounds, including intellectual property, and is paying Spexis up to a
total of CHF 2 million, which consists of an upfront payment which was now
received at closing, a payment related to the near-term transfer of the
assets to Basilea, which is expected by the end of February and a potential
final milestone payment related to the availability of near-term external
funding for the further development of the program. In addition, Basilea has
assumed the rights and obligations of Spexis related to the program,
including potential low single-digit percentage royalties on sales, under
licensing agreements.
The assets sold to Basilea are macrocyclic antibiotics developed within
Spexis' Outer Membrane Protein Targeting Antibiotics (OMPTA) program which
selectively disrupt the lipopolysaccharide transport bridge, an essential
structure in Gram-negative bacteria. This results in a loss of the integrity
of the outer cell membrane, intracellular accumulation of
lipopolysaccharides and killing of the bacteria. Activity has been shown in
vitro and in vivo against Enterobacteriaceae such as E. coli and K.
pneumoniae, including strains resistant to beta-lactams and colistin, an
antibiotic regarded as last-resort therapy. The program was funded in part
by CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical
Accelerator)2, a global non-profit partnership dedicated to supporting
early-stage antibacterial research and development to address the rising
threat of drug-resistant bacteria.
Jeff Wager, MD, Chairman & CEO of Spexis, said: "We are very pleased to have
finalized this transaction with Basilea as it underscores the power of our
macrocycle platform as a drug discovery platform and its potential to
generate products that can address significant unmet medical needs. From a
corporate strategy perspective, this transaction is part of Spexis' efforts
to partner or divest non-core programs and assets as the company works
towards exiting its moratorium status and will generate funds and streamline
focus which we can utilize towards advancing our core programs in rare
disease and oncology. "
About multidrug-resistant Gram-negative bacteria
Infections by multidrug-resistant Gram-negative bacteria (GNB) are a major
challenge for healthcare professionals. Due to an additional outer cell
membrane compared to Gram-positive bacteria, it is more difficult for
antibiotics to get into the cell. In addition, this outer membrane carries
lipopolysaccharides/endotoxins which induce inflammation and play an
important amplifying role in the pathogenesis of infections by GNB and are
therefore considered an important virulence factor. Moreover, GNB can
acquire resistance to several classes of antibiotics such as carbapenems,
fluoroquinolones, tetracyclines and earlier-generation cephalosporins,
making infections with GNBs particularly difficult to treat. In 2017, the
World Health Organization published a list of 12 classes of priority
bacterial pathogens that pose the greatest threat to human health, of which
nine classes are Gram-negative.3
About Spexis
Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in
Allschwil, Switzerland, focused on macrocycle therapeutics for rare diseases
and oncology. For further information please visit: www.spexisbio.com.
About Spexis' Macrocycle Platforms
Spexis possesses what we regard as some of the most distinct, highly diverse
and very well characterized macrocycle libraries in the world, together with
deep data on same, developed over the course of more than 25 years of
research and development and significant investment. These include
PEMFinder(TM), which is comprised of peptidomimetic macrocycles, and
MACROFinder(TM), which are small molecule macrocycles. Each have distinct
applications depending on the targets in question, which can be both
extracelluar and intracellular targets. In addition to generating the
specific OMPTA candidates described in this press release, these platforms
have generated multiple other drug candidates in the Spexis pipeline,
including murepavidin, balixafortide, lonodelestat and others.
For further information please contact:
For Investors: Stephen Jasper For Media: Dr. Stephan Feldhaus
Managing Director Gilmartin Feldhaus & Partner +41 79 865 9256
Group (1)stephen@gilmartinir.com (1)feldhaus@feldhaus-partner.ch 1.
1. mailto:feldhaus@feldhaus-partner.ch
mailto:stephen@gilmartinir.com
Disclaimer
This press release contains forward-looking statements which are based on
current assumptions and forecasts of Spexis management. Known and unknown
risks, uncertainties, and other factors could lead to material differences
between the forward-looking statements made here and the actual development,
in particular Spexis' results, financial situation, and performance. Readers
are cautioned not to put undue reliance on forward-looking statements, which
speak only of the date of this communication. Spexis disclaims any intention
or obligation to update and revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
This press release can be downloaded from www.spexisbio.com
References
1. M. Schuster, E. Brabet, K. K. Oi et al. Peptidomimetic antibiotics
disrupt the lipopolysaccharide transport bridge of drug-resistant
Enterobacteriaceae. Science Advances 2023 (9), eadg3683
2. Research reported in this press release is supported by CARB-X.
CARB-X's funding for this project is provided in part with federal funds
from the US Department of Health and Human Services; Administration for
Strategic Preparedness and Response; Biomedical Advanced Research and
Development Authority under agreement number 75A50122C00028; and by
awards from Wellcome (WT224842), and Germany's Federal Ministry of
Education and Research (BMBF). The content of this press release is
solely the responsibility of the authors and does not necessarily
represent the official views of CARB-X or any of its funders.
3.
https://www.who.int/news/item/27-02-2017-who-publishes-list-of-bacteria-for-which-new-antibiotics-are-urgently-needed
(Accessed: January 11th, 2024)
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End of Inside Information
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Language: English
Company: Spexis AG
Hegenheimermattweg 125
4123 Allschwil
Switzerland
Phone: +41 61 567 1600
Fax: +41 61 567 1601
E-mail: info@spexisbio.com
Internet: www.spexisbio.com
ISIN: CH0106213793
Valor: SPEX
Listed: SIX Swiss Exchange
EQS News ID: 1832895
End of Announcement EQS News Service
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1832895 08-Feb-2024 CET/CEST
