Basilea Pharmaceutica AG

Basilea Pharmaceutica has received an additional $30 million from the U.S. Biomedical Advanced Research and Development Authority after meeting a key enrollment milestone in its Phase 3 program for the novel antifungal Fosmanogepix. The funding, awarded under an existing Other Transaction Agreement, will help advance late-stage studies targeting invasive fungal infections such as aspergillosis and candidiasis. This new tranche builds on $93 million already committed since 2024, with BARDA covering about 60% of total project costs, and if all contract options are exercised, Basilea could receive up to $268 million in non-dilutive funding over 12 years. Fosmanogepix is a first-in-class broad-spectrum antifungal that has shown activity against drug-resistant Candida strains, including Candida auris, and rare molds such as Fusarium and Scedosporium, with both intravenous and oral formulations under evaluation in the Phase 3 FAST study in candidemia and invasive candidiasis and the FORWARD study in invasive mold infections. The drug has received Fast Track and Orphan Drug designations as well as Qualified Infectious Disease Product status from the FDA.