(RTTNews) – Basilea Pharmaceutica Ltd, (BSLN) has received an additional $30 million from the U.S Biomedical Advanced Research and Development Authority (BARDA) 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, which remain difficult to treat and carry high unmet medical need.
The new tranche builds on $93 million already committed since 2024, with BARDA covering about 60% of total project costs. If all contract options are exercised, Basilea could receive up to $268 million in non-dilutive funding over 12 years.
Fosmanogepix, a first-in-class broad-spectrum antifungal, has shown activity against drug-resistant Candida strains, including Candida auris, and rare molds such as Fusarium and Scedosporium. Both intravenous and oral formulations are under evaluation in Phase 3 trials: the 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.
CEO David Veitch said BARDA’s continued support underscores Fosmanogepix’s potential to expand treatment options for patients with severe fungal infections.
This milestone positions Basilea to advance its antifungal pipeline with significant U.S. government backing, reinforcing investor confidence in its late-stage development.
BSLN has traded between CHF 44.70 and CHF 59.70 over the past year. The stock is currently trading at CHF 53.00, up 2.32%.
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