Basilea Pharmaceutica AG (0QNA.L) Tuesday said it has received $39 million funding from the Biomedical Advanced Research and Development Authority (BARDA), a part of the U.S. Department of Health and Human Services, to advance development of its antifungals fosmanogepix and BAL2062.
This follows the successful completion of a milestone within the Other Transaction Agreement (OTA) which allows for funding of up to $268 million, awarded in September last year. The company had earlier received $29 million under this agreement.
"This second tranche of funding within the BARDA OTA will support the ongoing phase 3 study with fosmanogepix in yeast infections and the second phase 3 study, in mold infections, which is expected to start soon. It also provides funding for the preparation for the start of the phase 2 study for our antifungal BAL2062," said David Veitch, Chief Executive Officer of Basilea.
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