Basilea successfully placed 1 million new registered shares, raising gross proceeds of CHF 45.75 million

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Basel, Switzerland, February 24, 2021

Basilea Pharmaceutica Ltd. ("Basilea" or the “Company") announced today that it has successfully placed 1 million new shares in a private placement to institutional shareholders by way of an accelerated bookbuilding. The net proceeds will be used for i) the clinical development of Basilea’s clinical oncology drug candidates derazantinib and lisavanbulin, ii) pre-clinical research and development activities, and iii) working capital and other general corporate purposes, including investments in or in-licensing of complementary businesses, products or assets.

David Veitch, Chief Executive Officer of Basilea, said: “Through this transaction we have successfully expanded our institutional shareholder base, including leading healthcare funds, and increased our financial flexibility in order to create value through the progression and expansion of our R&D portfolio in our strategic focus areas. In particular, we have gained further flexibility for our most advanced clinical oncology assets, derazantinib and lisavanbulin, following the upcoming key data readouts.”

Basilea placed 1 million new registered shares of CHF 1.00 par value each at CHF 45.75 per new share. The new shares, corresponding to 8.4% of Basilea’s currently issued share capital, will be issued from Basilea’s authorized share capital, excluding subscription rights of existing shareholders. The new shares are expected to be listed and admitted to trading on SIX Swiss Exchange on February 26, 2021. Payment and settlement are expected to take place on or around February 26, 2021. The new shares will rank pari passu with the existing shares.

In connection with the offering, Basilea has agreed to a 150-day lock-up period following the settlement, subject to customary exceptions. Members of the Board of Directors and Management of Basilea have agreed to a 150-day lock-up period following the settlement, subject to customary exceptions.

As a result of the transaction, Basilea updates its financial guidance for 2021. It maintains its revenue and operating loss guidances and increases its guidance relating to cash and investments to approximately CHF 155 - 160 million at year-end 2021.

Cantor Fitzgerald, Credit Suisse and Bryan Garnier acted as Joint Bookrunners in connection with the offering.

About Basilea

Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the medical needs of patients with cancer and infectious diseases. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of severe bacterial infections. We are conducting clinical studies with two targeted drug candidates for the treatment of a range of cancers and have a number of preclinical assets in both cancer and infectious diseases in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.