Basilea's Board proposes Martin Nicklasson to succeed Chairman Werner Henrich and recommends to shareholders that they do not support the request for a capital distribution at this time

Basilea Pharmaceutica AG / Basilea's Board proposes Martin Nicklasson to succeed Chairman Werner Henrich and recommends to shareholders that they do not support the request for a capital distribution at this time . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

Basel, Switzerland, March 7, 2013 - Basilea Pharmaceutica Ltd. (SIX: BSLN) released today the agenda for its April 9, 2013 Annual General Meeting (AGM).

The Basilea Board of Directors proposes Dr. Martin Nicklasson as designated non-executive Chairman of the Board of Directors to succeed Werner Henrich whose term will end at the upcoming AGM. Mr. Henrich will not stand for re-election as he will reach the statutory age limit for board members in 2013.

Dr. Martin Nicklasson proposed for election to the Basilea Board of Directors

Dr. Nicklasson is a high-profile pharmaceutical business professional with longstanding operational and board experience. He was born in 1955, is a Swedish citizen and holds a PhD in pharmaceutical technology from the University of Uppsala, Sweden. He is Associate Professor at the Department of Pharmaceutics, University of Uppsala. Dr. Nicklasson has held numerous leadership and executive positions in commercial operations and drug development at AstraZeneca Plc., including as a member of its Executive Committee. He was the President and CEO of Biovitrum AB and Swedish Orphan Biovitrum AB, one of Europe's largest specialty pharma companies focusing on rare diseases. Dr. Nicklasson serves as a member on the boards of a number of biotech companies in Europe and the USA.

Immediate capital distribution considered not to be prudent

HBM Healthcare Investments (Cayman) Ltd. has requested that Basilea include a proposal on the upcoming AGM agenda to distribute to its shareholders CHF 5.00 per share for a total of approximately CHF 48 million from capital contribution reserves. Basilea's Board of Directors recommends that shareholders do not support the proposal at this time.

The Board supports a capital distribution to shareholders in principal but considers the proposed timing not to be prudent given the significant milestones ahead for the Company this year and the need for financial flexibility to allow the Board and Management to optimize the value of the Company for all shareholders:

• First phase 3 results of isavuconazole for the treatment of life-threatening fungal infections in transplant and cancer patients are expected in the second half of 2013. If Basilea reaches its isavuconazole development and regulatory milestones it is eligible for milestone payments, however, the vast majority of the milestones are not anticipated in the short term.