SOURCE: Basilea Pharmaceutica AG

March 30, 2010 12:20 ET

Annual General Meeting of Shareholders of Basilea Pharmaceutica Ltd.

BASEL, SWITZERLAND--(Marketwire - March 30, 2010) - Basilea Pharmaceutica Ltd. (SIX: BSLN) shareholders approve all Board of Directors' proposals at the Annual General Meeting.

Today, the shareholders of Basilea approved the annual report, the financial statements and consolidated financial statements for the business year 2009, as well as discharge of the members of the Board of Directors and of Management. Shareholders also approved to carry forward retained earnings for Basilea Pharmaceutica Ltd.

Mr. Werner Henrich and Mr. Claude Schreiner were both re-elected as members of the Board of Directors for a term of three years.

Shareholders re-elected PricewaterhouseCoopers AG, Basel, as Statutory Auditors for the stand-alone and consolidated financial statements for the business year 2010.

Shareholders approved an amendment of Article 3a paragraph 1 of the Articles of Incorporation related to the increase of conditional share capital. Further, a change of Article 4 of the Articles of Incorporation, reflecting the new federal law on intermediated securities, was approved by shareholders.

The Board of Directors confirmed Mr. Werner Henrich as Chairman of the Board of Directors and Mr. Steven D. Skolsky as Vice-Chairman.

The Annual General Meeting for the financial year 2009 was attended by shareholders representing 39.4% of the total share capital of the company.

In his presentation to shareholders, Dr. Anthony Man, CEO Basilea Pharmaceutica Ltd., commented: "Basilea experienced successes as well as challenges in 2009. We are very proud of the successful commercialization of Toctino in first key markets reflecting the innovation and pharmacoeconomic value of Toctino. However, the delays following the review of the market applications for ceftobiprole were setbacks." Dr. Anthony Man added: "In 2010, we aim to create shareholder value by further expanding patient access to Toctino and bringing forward isavuconazole with Astellas to achieve its full potential as a novel therapeutic option for life-threatening fungal infections. We also focus on an efficient transfer of ceftobiprole back to Basilea and we anticipate moving two promising compounds from our research pipeline into clinical development."

About Basilea

Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland, and listed on the SIX Swiss Exchange (SIX: BSLN). Basilea's integrated research and development operations are currently focused on new antibacterial, antifungal and oncology agents to fight drug resistance and on the development of dermatology drugs. Basilea's products are targeted to satisfy high medical and patient needs in the hospital and specialty care setting.

The company owns a diversified portfolio including two commercialized drugs (Toctino®, ZEFTERA™/ Zevtera™) and one investigational drug (isavuconazole) in phase III clinical development. Basilea has entered into a license, co-development and co-promotion agreement with Astellas Pharma Inc. for isavuconazole for the treatment of life-threatening invasive fungal infections on a worldwide basis, including an option for Japan. Toctino® (alitretinoin) is marketed in Denmark, France, Germany, Switzerland and the United Kingdom. It is approved in eight additional European countries as well as in Canada and has been recommended for approval in 14 European countries. Furthermore, a phase III clinical trial on alitretinoin for the treatment of severe chronic hand eczema is ongoing in the U.S.

Ceftobiprole is marketed in Canada under the brand name ZEFTERA™ and in Switzerland under Zevtera™. Basilea has set up commercial organizations in Canada, France, Germany, the Nordics, Switzerland and the United Kingdom, while it is building sales and marketing organizations in other countries to commercialize alitretinoin.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica Ltd. 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 Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. 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:

Media Relations                              Investor Relations
Adesh Kaul                                   Barbara Zink, Ph.D., MBA
Head Public Relations &                      Head Corporate Development
Corporate Communications                     +41 61 606 1233
+41 61 606 1460
media_relations@basilea.com                  investor_relations@basilea.com

This press release can be downloaded from www.basilea.com

[HUG#1399401]

Press release (PDF): http://hugin.info/134390/R/1399401/354912.pdf

Basilea Pharmaceutica AG
Grenzacherstrasse 487
P.O Box Basel Switzerland

WKN: A0B9GA;ISIN: CH0011432447

Contact Information

  • For further information, please contact:

    Media Relations
    Adesh Kaul
    Head Public Relations &
    Corporate Communications
    +41 61 606 1460
    Email Contact

    Investor Relations
    Barbara Zink, Ph.D., MBA
    Head Corporate Development
    +41 61 606 1233

    Email Contact