Spexis AG, a clinical-stage biopharmaceutical company focused on macrocycle therapeutics for rare diseases and oncology, has entered into an asset purchase agreement with Basilea Pharmaceutica Ltd.
Basilea will acquire from Spexis a preclinical programme of antibiotics from a novel class targeting Gram-negative bacteria, including multidrug-resistant strains.
The assets sold to Basilea are macrocyclic antibiotics developed within Spexis’ Outer Membrane Protein Targeting Antibiotics (OMPTA) programme, 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 programme was funded in part by CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator), 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: “This transaction with Basilea 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."
"Furthermore, from a corporate strategy perspective, this transaction represents a continuation of our focus to partner or divest programs and assets not central to our rare disease and oncology focus as we pursue an exit from our moratorium status."
Basilea is acquiring all program compounds, including intellectual property, and is paying Spexis up to a total of CHF2m, 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 programme.
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.
