Spexis sells antibiotics programme to Basilea

Spexis AG (Alschwil) has entered into an asset purchase agreement with Basilea Pharmaceutica Ltd. Under the agreement Basilea will acquire a preclinical macrocyclic antibiotics programme that has been demonstrated preclinial efficacy against multidrug-resistant Gram-negative bacterial pathogens.

The assets sold to Basilea targets the LptA protein that bridges togehter with other proteins the outer with the inner membrane of Gram-negative bacteria selectively disrupting the lipopolysaccharide transport bridge (LPTB). This results in a loss of the integrity of the outer cell membrane, intracellular accumulation of lipopolysaccharides and elimination of the bacteria. The antibacterial protein named Thanatin and it inhibits the LptA-LptA and LptC-LptA protein-protein interactions and disassembles the Lpt periplasmic protein bridge. 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. The programme was funded in part by CARB-X.

Jeff Wager, MD, Chairman & CEO of Spexis, said: “The assets sold to Basilea are a novel class of antibiotics discovered and optimised using Spexis’ macrocycle platforms and methodologies.  In this case, the compounds derivatised target the lipopolysaccharide transport in Gram-negative bacteria which have been highlighted by the World Health Organization as priority pathogens against which new antibiotics are urgently needed. ”

Basilea is acquiring all programme compounds, including intellectual property, and is paying Spexis up to a total of CHF 2mn, which consists of an upfront payment, a payment related to the near-term transfer of the assets to Basilea, 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 is assuming the rights and obligations of Spexis related to the programme, including potential low single-digit percentage royalties on sales, under licensing agreements. The transaction is subject to the approval by the Western District Court of the Canton Basel-Landschaft.

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