Basilea Pharmaceutica AG

October 03, 2011 01:24 ET

Basilea announces change in its management structure

BASEL, SWITZERLAND--(Marketwire - Oct 3, 2011) -

Basilea Pharmaceutica AG / Basilea announces change in its management structure . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

Basilea Pharmaceutica Ltd. (SWISS: BSLN) announced today that Ronald Scott has been appointed Chief Operating Officer (COO) of Basilea Pharmaceutica International Ltd.

Ronald Scott was appointed Chief Financial Officer at the company's inception. In addition to finance, business development, investor relations and public relations, he now assumes responsibility for commercial activities, manufacturing and corporate services with the respective departments retaining their heads. He will continue as ad interim Chief Financial Officer. In line with Basilea's strategic focus to bring innovative new drugs to the market, research and development, including Basilea's operations in China, will continue to report directly to Chief Executive Officer, Dr. Anthony Man.

Anthony Man commented: "Ron has demonstrated his management skills in finance and business development as attested by Basilea's significant transactions achieved under his leadership. We are committed to bring innovative new medicines to patients addressing resistance and non-response to current treatment options in the hospital and specialty care setting. This change allows me to focus on our highest business priorities associated with Toctino, ceftobiprole, isavuconazole together with our exciting new Gram-negative antibiotic and anti-cancer drug development as well as on our mid-to-long term strategy to build value through R&D innovation."

The company is committed to principles of good corporate governance. Considering these evolving principles, Dr. Anthony Man and Ronald Scott, as executive board members, have decided to step down from the Board of Directors of Basilea Pharmaceutica Ltd. with immediate effect. The Basilea Board of Directors is thus fully composed of non-executive board members.

About Basilea

Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland, and listed on the SIX Swiss Exchange (SWISS: BSLN). Basilea Pharmaceutica International Ltd.'s fully integrated research and development operations are focused on antibiotics, antifungals and oncology drugs, as well as on the development of dermatology drugs, targeting the medical challenge of resistance and non-response to current treatment options in the hospital and specialty care setting.

Basilea is currently marketing Toctino® (alitretinoin), the only approved treatment for adults with severe chronic hand eczema unresponsive to potent topical corticosteroids, in Denmark, Finland, France, Germany, Norway, Switzerland and the United Kingdom and has appointed distributors for Toctino® in other selected European markets, Canada, Israel, Mexico and the Republic of Korea. A phase III clinical program on alitretinoin for the treatment of severe chronic hand eczema is ongoing in the U.S.

For its phase III compound isavuconazole, a potential best-in-class azole antifungal for the treatment of life-threatening invasive fungal infections, the company has entered into a license, co-development and co-promotion agreement with Astellas Pharma Inc.

In addition, Basilea is developing ceftobiprole, a late-stage novel anti- MRSA (methicillin-resistant Staphylococcus aureus) broad-spectrum cephalosporin antibiotic, for the first-line treatment of potentially life-threatening resistant bacterial infections. Ceftobiprole has a broad coverage of both Gram- positive bacteria, including MRSA, and many clinically important Gram- negative bacteria such as Pseudomonas spp.

Basilea's BAL30072, a novel antibiotic for the treatment of resistant Gram- negative infections, and the oncology drug BAL101553 for the treatment of drug- resistant cancers are in phase I clinical testing.


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.

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Source: Basilea Pharmaceutica AG via Thomson Reuters ONE


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