Basilea Entered into an Asset Purchase and Sub-License Agreement with SillaJen for BAL0891

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Basilea will receive upfront and near-term milestones of $14M & is also eligible to receive ~$320M upon achievement of predefined development, regulatory, and sales milestones along with royalties on net sales. In 2018, Basilea acquired a license for BAL0891 from Dutch precision medicine firm NTRC
Under the asset purchase agreement, SillaJen receives IP rights & sub-licensing rights from Basilea upon the license and collaboration agreement with NTRC
The agreement will advance the BAL0891 for patients suffering from advanced solid tumors. BAL0891 targets both TTK and PLK1 kinases & is designed for the development of multiple cancers

Ref: Globenewswire | Image: Basilea