Basilea Pharmaceutica Ltd (0QNA.L) Tuesday said that the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) under the U.S. Department of Health and Human Services, has committed an additional $25 million to support the continued development of the company's antifungal candidates, fosmanogepix and BAL2062.
The additional funding was triggered by reaching a predefined enrollment milestone in the phase 3 fosmanogepix study for candidemia and invasive candidiasis, under the Other Transaction Agreement (OTA). This agreement provides for potential total funding of up to approximately $268 million to advance antifungal and antibacterial programs.
"This third tranche of funding within the BARDA OTA will support our two ongoing phase 3 studies with fosmanogepix in yeast infections and in mold infections. It also provides further funding for the phase 2 development of BAL2062 in mold infections," said David Veitch, Chief Executive Officer of Basilea.
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