Spexis announces extension of moratorium, receipt of an additional payment related to the sale of a preclinical antibiotics program and reversion of the lonodelestat license from Santhera

Spexis AG / Key word(s): Miscellaneous Spexis announces extension of moratorium, receipt of an additional payment related to the sale of a preclinical antibiotics program and reversion of the lonodelestat license from Santhera 17-Apr-2024 / 07:15 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR

Allschwil, Switzerland, April 17, 2024

Spexis announces extension of moratorium, receipt of an additional payment related to the sale of a preclinical antibiotics program and reversion of the lonodelestat license from Santhera

• The Western District Court of the Canton Basel-Landschaft has granted Spexis’ request to extend its provisional moratorium by an additional 4 months.
• Spexis received the second of three potential payments as part of an asset purchase agreement announced on Jan 15, 2024 totaling CHF 2 million.
• Santhera Pharmaceuticals Holding AG (Pratteln, Switzerland) has terminated the license agreement relating to lonodelestat, Spexis’ inhaled neutrophil elastase inhibitor, as part of its portfolio review and announced focus on its lead asset vamorolone.
   

Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on macrocycle therapeutics for rare diseases and oncology, today announced that its request to extend its provisional moratorium has been granted for an additional four months by the Western District Court of the Canton Basel-Landschaft.  This request was made as part of Spexis’ efforts to partner or divest non-core programs and assets and raise additional capital in order to eventually emerge from moratorium.

In addition, Spexis sold all rights to a preclinical program of macrocycle antibiotics developed by Spexis from a novel class (outer membrane protein targeting antibiotics, or “OMPTAs”) targeting Gram-negative bacteria, including multidrug-resistant strains, under an asset purchase agreement to Basilea Pharmaceutica International Ltd, Allschwil. The transaction was first reported on 15 January 2024 and further reported on 8 February 2024 upon closing.  In the meantime, Basilea has made the second of three total potential payments to Spexis.  This payment related to the completion of transfer of the asset to Basilea.