Basilea's 'Cresemba' launched by partner in Canada

Basilea Pharmaceutica announced on Thursday that its partner Avir Pharma has launched the antifungal product ‘Cresemba’ (isavuconazole) in Canada.

The Swiss pharmaceuticals firm had entered into a distribution and license agreement with Avir Pharma in June 2017, for both Cresemba and the hospital antibiotic ‘Zevtera’ (ceftobiprole).

Under the agreement, Basilea supplies Avir Pharma with products at a transfer price.

The granting of the regulatory approval for Cresemba in Canada triggered an undisclosed regulatory milestone payment to Basilea, with the company now eligible to receive further sales milestone payments.

“We are very pleased with the launch of Cresemba in Canada,” said chief executive officer David Veitch.

“We look forward to Avir Pharma making Cresemba available to patients in Canada as an important new treatment option for potentially life-threatening invasive mold infections.

“Through our global partnerships Cresemba is already available in more than 25 countries worldwide.”