Basilea Lists on SWX at CHF 98 per Share (posted 2 June 2004)

 

Basilea Pharmaceutica AG ('Basilea') today announced the start of trading of its registered shares on the SWX Swiss Exchange in connection with its offering of 2.1 million registered shares with an issue price of CHF 98 per registered share.  The offer size amounts to CHF 206 million in gross proceeds, excluding an over-allotment option.  The offering included a public offering in Switzerland as well as a private placement to institutional investors in certain other jurisdictions.

 

Basilea is floating to provide a public market for its registered shares and to raise proceeds primarily to support ongoing and new clinical development and research programs as well as for general corporate purposes.

 

 

Basilea offered 2.1 million newly issued registered shares with a nominal value of CHF 1 each.

The book of demand was more than 9.5 times covered at the offer price.

Trading is expected to commence on the SWX Swiss Exchange at 9 am on 25 March 2004 under the symbol BSLN. 

Closing is expected to occur on 30 March 2004.

 

Credit Suisse First Boston and Morgan Stanley have been appointed joint global coordinators and joint book-runners for the offering, with swissfirst appointed as co-lead manager.

 

"The listing of our shares on the SWX Swiss Exchange today represents a key milestone for Basilea as it supports our long-term business objectives, and helps us to realise our potential for both patients, physicians and investors alike.  This is an extremely exciting phase in Basilea's growth with three lead compounds poised to enter phase II-III," said Anthony Man MD, CEO of Basilea.

 

 

BAL5788 is the first of a new class of broad-spectrum cephalosporin antibiotics also active against multi-resistant Gram-positive pathogens such as methicillin-resistant Staphylococcus aureus.  In March 2003 the FDA granted BAL5788 Fast Track designation for the treatment of skin and skin structure infections. BAL5788 has completed phase II clinical development. 

 

The growing incidence of serious infections caused by antibiotic-resistant bacteria is a matter of increasing global medical concern.

 

BAL4079 is an oral retinoid for the treatment of chronic hand dermatitis that has completed phase II clinical development. 

 

BAL4079 has the potential to become an oral treatment for patients with chronic hand dermatitis who are refractory to treatment with topical therapy.

 

BAL8557 is a novel water-soluble broad-spectrum azole suitable for both oral and intravenous administration for mucocutaneous and invasive fungal infections.  BAL8557 has completed phase I clinical development. 

 

Currently available systemic treatments for fungal infections have limitations either in terms of antifungal spectrum or safety profile.  BAL8557 may offer benefits over available antifungal therapies based on its broad antifungal spectrum, potential safety benefits and convenience of once daily intravenous and oral dosing.

 

 

Basilea Pharmaceutica AG is an independent biopharmaceutical company headquartered in Basel, Switzerland that is actively engaged in the discovery and development of innovative medicines for the treatment of unmet medical needs. 

 

The company's fully integrated research and development operations are currently focused on new anti-bacterial and anti-fungal agents to overcome the problem of drug-resistance in bacterial infections and fungal infections, as well as skin diseases all of which are associated with high unmet medical needs and growth potential.  Basilea was founded in October 2000 with significant resources to discover, develop and bring innovative medicines to market.

 

 

This communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica AG and its business.  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 AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica AG 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.  For further information, please contact the following: